Marked 4 years 3 days ago onto Components of Home Loan EMI Calculator
Source: https://housing.com/in/home-loans/emi-calculator
So, let's dive deep into the different components involved in the Home Loan EMI calculator:
The amount of loan
If you are thinking about getting a home loan, the first thing that you need to choose is the loan amount. After the amount of loan is decided and the calculation of down payment is the next step. Once this is also done, you can get a better idea of the monthly installments.
Tenure of Home Loan
The next step after deciding the loaning amount is to decide the time period which starts from 6 months to 30 years. The longer the loaning period the higher the repaying amount due to the added interest.
Interest Rate and Processing Fee
Once all these things are decided the next thing to do is to enter the interest rate offered by your preferred bank. You can easily check the various home loan EMI calculator rates which are offered by different banks online and enter it in the calculation.
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