EMI Calculator

Home Loan EMI Calculator

An online home loan EMI calculator is a tool that is used to calculate the monthly EMI with just one click. The easy-to-handle tool can be used by any individual who wishes to know their home loan EMIs in advance. Clicbrics' home loan EMI calculator online tool will help you plan your home loan with care.

Benefits of Using a Home Loan EMI Calculator

By knowing the EMIs in advance, with the help of Clicbrics' home loan EMI calculator, you will benefit in the following ways:

• A simple and accurate tool

  There can be no shortcuts involved when it comes to the home-buying process. This means you can't go wrong with numbers. Although you can calculate it yourself, one thing is well known, i.e., manual calculations are more prone to errors. But when you use a home loan EMI calculator, it will solve this problem and provide you with the right results.

• Quick calculations

  The days of using pen and paper for calculations are long gone. It usually takes a house to calculate home loans. Nevertheless, with the help of an online home loan EMI calculator, you can do calculations with a single click. And the best part is that you don't have to waste your time double-checking; it is entirely reliable.

• No personal details are required.

  Once you use the free online home loan EMI calculator, you don't have to worry about the misuse of data because you don't have to reveal your identity.

Apart from the examples mentioned above, the home loan EMI calculator will also inform you about 3 more unique points that will help you understand your EMIs in a better manner.

• How much of the loan amount should you borrow?

  The home loan EMI calculator will help you decide the home loan amount based on how much EMI you can afford to pay with your stable income. So, in this form, you will be able to plan your budget more realistically.

• Should the tenure period matter?

  Once you use a home loan EMI calculator, it will help you know the EMI that you can afford to pay every month. In this form, you will also discover the suitable tenure for your loan.

• How much of a downpayment should you prepare?

  The online tool will help you figure out the amount you should pay as a down payment to save as much as possible on your interest while having minimum EMIs.

What are the factors that affect home loan EMI?

Below are some of the critical factors that affect your home loan EMI.

1. The loan amount

   The amount of loan you wish to borrow affects your EMI. In layman's terms, the higher the amount you borrow, the higher your EMI.

2. Your loan tenure

   Your installments for which you wish to take a loan also affect your installments. Your EMI will be longer if the tenure is longer. If you choose a longer

3. Interest rate

   Your interest rate will fluctuate in the case of floating interest rate loans, which means if the rate goes up, so will your EMI.

Steps to using a home loan EMI calculator

Any individual looking for a home loan can easily access a home loan EMI calculator. In order to know how? Check the below-mentioned steps.

STEP 1

Enter the amount you wish to borrow.

STEP 2

Enter the expected years for which you wish to borrow

STEP 3

Enter the rate of interest and click "Calculate your EMI".

With just these 3 simple steps, you will be able to check your monthly installment on your home loan.