How to Use Home Loan EMI Calculator?
Our Home Loan EMI Calculator is simple to use, easy to comprehend, and quick to use, with colorful charts and rapid results. Using this calculator, you may calculate the EMI for a house loan, a vehicle loan, a personal loan, an education loan, or any other completely amortizing loan.
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Enter the following information in the EMI Calculator:
1. The principal loan amount you wish to avail (rupees)
2. Loan term (months or years)
3. Rate of interest (percentage)
EMI in arrears OR EMI in advance (for car loans only)
Use the slider to adjust the values in the EMI calculator form.
The EMI calculator automatically recalculate your monthly payment (EMI) amount as soon as you modify the parameters using the slider (or click the 'tab' key after entering the values directly in the input fields). A pie chart depicts the breakdown of total payment (i.e., total principle vs. total interest due).
It shows the ratio of total interest against principle in the sum of all payments made on the loan.
The payment schedule table is given, along with a chart displaying the interest and principal components paid each year for the whole loan length. The interest component of each payment is deducted, and the remainder is applied to the principle debt.
During the first year of the loan, a significant amount of each payment is allocated to interest. With the passage of time, increasing amounts of the principal are paid off.
The payment schedule also displays the intermediate outstanding sum for each year, which is carried over to the following year.
