Home Loan Emi Calculator, Calculate Your Home Loan
In this article we are talk about the home loan emi calculator with easy steps and also we are know that how to use home loan emi calculator with easy steps.

  1. What Is Emi
  2. What is home loan
  3. Home to calculate loan with easy steps
  4. Intrest of banks for home loan
  5. Advantage and disadvantage of home loan
  6. How you can apply for home loan
  7. Formula of emi


1Q. What Is Emi?
Ans:- An EMI (Equated Monthly Installment) is a fixed monthly amount.
A taker is paid by a lender over a specific loan term. EMI covers the payment of both principal and interest. This ensures that the loan amount is fully repaid.

► EMI-Eqated Monthly Installment

A fixed amount paid every month to clear home loan

► EMI Amount Principal Amount + Interest

Amount



E is EMI

P is Principal Loan Amount

r is rate of interest calculated on monthly basis. (i.e., r = Rate of Annual interest/12/100. If rate of interest is 10.5% per annum, then r = 10.5/12/100=0.00875)

n is loan term / tenure / duration in number of months.
HME LOAN EMI


                                    How to use emi calculator?

FOLLOWS THSES STEPS TO USE EMI CALCULATOR-
  1. TYPE YOUR LOAN AMMOUNT (for example- 200000 ruppes for home loan)
  2. WRITE YOUR BANK INTREST RATE (for example- you take a loan from HDFC bank and the intrest is 7.35%. 
  3. WRITE YOUR LOAN TENNURE, THIS IS THAT WHAT TIME YOU TAKE TO PAY THE LOAN OF A BANK (for example- i take a loan tennure for 2 years/ 24 month)
  4. CLICK NOW ON CALCULATE BUTTON, THIS TOOL IS SHOW THE LOAN EMI, INTREST PAYBLE AND MORE WITH GRAPH.


Home Loan Interest Rates

10 Lowest Home Loan Interest Rate


                                                              
                   BANK  HOME LOAN INTREST RATE                 FEES
 SBI 6.95% 0.20% 
 HDFC 7.35% 0.50%
 ICIC                                                                                                    8.10%              1.00%                         
  1. SBI Bank home loan intrest rate is 6.95% and they take fees charge 0.20%. sbi minimum ruppes in 4000 and there maximum rs is 17400.
  2. HDFC Bank home loan intrest rate is 7.35% and there fees is 0.50%. they minimum charge is 3000 ruppes and maximum is 10000.
  3. ICIC Bank loan intrest rate is 8.10% with 1.00% fees rate. 
  4. LOAN


Bank of Baroda

7.25%

Min Rs. 10,030

Citibank

7.50%

NIL

ICICI Bank

8.10%

1.00%

Axis Bank

7.70%

0.20% , Min Rs. 5,000, Max Rs. 25,000

PNB Housing Finance

8.60%

0.50%, Min Rs. 10,000

LIC Housing Finance

7.50%

0.25%

Indiabulls

9.25%

Min Rs. 7,500, Max Rs. 10,000

DBS Bank

7.70%

Max Rs. 10,000


    

Which bank is offering the lowest interest rate on home loans? As per the current rates, SBI offers the lowest home loan interest rate of 6.95%. Home loan rates have been reduced to an all-time low due to a series of repo rate cuts by the RBI. If you are a salaried person, then you are eligible to get a loan at the cheapest rates and buying a house with a property value of less than Rs 30 lakh. Rates are even better for women borrowers as banks run special concessional schemes on the property with the primary applicant or co-applicant as the woman..









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