As a home loan is essentially to do with the purchase of a home, it’s normally quite big in amount compared to a personal loan. Even a minor difference in the offered rate and/or terms of a home loan can have a major impact on your financial burden, both in short and long term. Hence it becomes very important that you comprehensively compare and evaluate different home loan offers in India, on multiple criteria, before finally selecting one. Furthermore, as all the banking establishments and NBFCs engaged in home loans business offer different types of offers and discounts to attract more customers, comparison is the only way that you can find out the best one among them for your needs. You must compare home loan offers on various important parameters including:
You can use our home loan EMI and Repayment Calculator to easily calculate the EMI amount you’d be expected to pay each month for a home loan amount specified by you. You need to input the required home loan amount, the tenure of the loan and the applicable interest rate. These three inputs are available in the form of sliders that can be adjusted to figure out the monthly EMI, total interest (over the tenure), total repayable amount (over the tenure) and the interest component’s percentage, suitable to you.
Planning is very crucial for every endeavour of life. Whether you’re buying a property in India or are making some big financial investment, you cannot do a good job at it if you don’t plan well. Such decisions if taken in haste, without any contemplation, can often lead to both short-term and long-term financial problems.
Taking a home loan also requires plenty of planning as it normally involves a big amount that would need to be repaid over a period of time. It’s very important to assess your eligibility for the required home loan and to determine what its EMI and repayment figures will be like, before opting for it.
Our home loan eligibility calculator and home loan EMI and repayment calculator can be of great use in this regard and provide you with figures that can help you make well-informed decisions. You can use these housing loan calculators any number of times, free of cost, at any time of the day/night.