Home Loan EMI Calculator
What is Home Loan EMI?
An equated monthly instalment (EMI) is the monthly payment provided by you to the lender against loan, every month. EMIs apply every month to both interest and principal to loan is paid off in full over some years. Home Loan EMI Calculator calculates the exact monthly EMI you have to pay for your Home Loan.
A Home Loan is the most important financial decision of your life. When you know that how much amount you are going to lend for home loan, the next step is to calculate the accurate EMI you are going to pay monthly. The biggest concern of Home Loan is the accuracy of monthly EMIs and Chandigarh Home Loan helps you to find the accurate EMI with the help of Home Loan EMI Calculator.
How to calculate Home Loan EMI?
Formula for Home Loan EMI Calculation is –
P x R x (1+R)^N / [(1+R)^N-1] where-
P = Principal loan amount
N = Loan tenure in months
R = Monthly interest rate
The rate of interest (R) on your loan is calculated per month.
R = Annual Rate of interest/12/100
Calculating EMI manually is troublesome. Chandigarh Home Loan providing you Home Loan EMI calculator for your convenience.
We standby your expectation in terms of any query and concerns raised to us. Your satisfaction is our priority.
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