(Principal + Interest)
Aavas home loan EMI calculator will tell you the exact amount of monthly EMI in less than 2 seconds based on your salary or business income. Just enter the required housing loan amount, the number of years you need the loan for and rate of interest and you are done. This online home loan calculator is so simple that anyone can use it. You can even know EMIs for different years and different rate of interest as per your requirement.
A home loan calculator helps you to know the exact amount to your home loan EMIs that you have to pay to your home loan. Using a home loan calculator is really simple. In just 3 simple steps you can know the exact EMI amount.
Step 1) Enter the loan amount you need like 5 lacs, 10 lacs, or whatever loan amount you want to take from the bank.
Step 2) Select the Rate of Interest.
Step 3) Enter Loan Tenure like how many years you want to take the loan for. You may enter the duration in months as well.
Once you enter all the above information EMI calculator will evaluate your monthly EMI, total Interest payable, and total payment which will include principal as well as interest.
Once you are satisfied with loan EMI, you can directly apply for home loan by clicking Apply Now.
The formula is simple to calculate EMIs. It is = [P x R x (1+R) ^N]/ [(1+R) ^N-1] where: