Easy Ways To Calculate Your Housing Loan EMIs through EMI Calculator

Despite having home loan eligibility, many people do not apply for housing finance. It is because they are unaware of an exact home loan EMI payable over a tenor. But it is possible to calculate home loan EMIs in advance. 

All that you have to do is – use the housing loan EMI calculator. Let’s know how to use the home loan calculator for EMI in this short post!

What is a housing loan EMI calculator?

A home loan EMI calculator is an online tool that you use free of cost on a lender’s website. It is accessible 24x7. The home loan EMI calculator helps you choose the right loan amount, tenor, and rate of interest as per your income. In short, it makes home loan planning simpler and faster. 

How do you use the housing loan EMI calculator?

1. You should land on the website of the lender that you want to apply for the home loan with. Open the home loan EMI calculator from the calculator's section. 

2. On the home loan EMI calculator, you need to select your desirable housing loan amount, the repayment tenor and an applicable interest rate. 

3. Once done, the online tool will showcase an exact home loan EMI amount you have to pay over a tenor. 

4. Along with the precise housing loan EMI amount, it will also showcase an exact payable interest amount and the entire loan cost (principle + interest). 

5. The results showcased by the home loan EMI calculator is accurate and without any errors. 

6. You also don’t have to wait for an indefinite time to know about your home loan EMI. 

7. Once you have an idea about the actual EMI figure, you can indulge in error-free financial planning. 

If you are ready, you can access the housing loan EMI calculator on your lender’s platform and plan your home loan quickly.