What is a Housing Loan EMI Calculator?
A Housing Loan EMI Calculator or a Home Loan Emi Calculator helps you calculate your monthly instalments for repayment of your loan.
What is an EMI for Home Loan?
EMI stands for Equated Monthly Instalment. It is the total amount payable every month until the loan has been fully repaid. Home Loan EMI consists of a principal amount as well as the interest due on the home loan.
How does an EMI Calculator work?
The Housing Loan EMI Calculator works on three main criteria – The loan amount availed, tenure of the loan and the rate of interest being charged by the lender.