Check Your EMI with the Best Home Loan Calculator

A home loan calculator is an essential tool to estimate the EMI considering the monthly interest rate, principal amount, and loan tenure. The EMI calculator helps you to make informed decisions on home purchases by assessing the expected spending in the coming months. Moreover, it gives you a clear picture of how much is adjusted against the principal amount and the interest amount. You can also come to know the expected outstanding home loan balance at the end of the month for the period as specified by you.

What is a home loan calculator?

The home loan calculator is an online tool for estimating the EMI (equated monthly installment) based on the inputs provided by you, such as the loan amount you want to borrow, the tenure of loan repayment, and the interest rate applicable to your home loan. It is a very simple and quick estimation process. You do not need to understand the complex calculation for predicting EMI amount. Only by entering the inputs that you are known can you estimate the EMI.

Concept of EMI

EMI is the monthly payable amount against your borrowed home loan. The EMI amount is comprised of two major components, such as the principal amount and the interest amount. At the initial stage, the interest amount figure used to be more compared to the principal amount because only a small percentage of the loan amount is repaid by you till then, but after half of the period, the principal amount becomes much higher than the interest component.

What are the benefits of a home loan calculator?

The home calculator is an important tool that helps borrowers in various ways. Here is a list of benefits you can get by estimating EMI using a home loan calculator.

• The home loan calculator is a very easy-to-use tool, and it calculates by simply taking inputs such as loan amount, tenure, and interest rate.
• It predicts the EMI most accurately and helps the borrower in key decision-making.
• You can update your input to estimate EMI on different criteria.
• It helps you to do your household budget estimation in advance.
• It saves your time by simply taking the input and displaying results within a second. Otherwise, you may have to visit branches of the bank to know every detail.

Home loan calculator for amortization schedule

The home loan amortization schedule displays the complete breakdownof EMI adjustment against the principal. It gives the details of the payable EMI amount, EMI adjustment against principal and interest component, and the outstanding loan amount after EMI adjustment at the end of the month.

PNB Housing offers an easy home loan opportunity with a flexible repayment schedule. Calculate the estimated EMI and outstanding loan amount for a period of time with the PNB home loan calculatorand make your plans for purchasing your new home. Get the detailed estimation of EMI and avail the home loan at the lowest interest rate with quick disbursement of the home loan. Use the home loan calculator by changing different criteria on input and compare them to make effective decisions.