EMI Calculator for Housing Loan: Features and How To Use It?

 

Are you looking to get a reasonable estimate of your monthly EMI on your Home Loan?

As while planning to buy a house, one of the most critical factors is to decide how much loan must be availed. Using an EMI calculator is the easiest way to determine your monthly payouts and balance your budget accordingly.

A home loan EMI is the repayment of the loan amount which you will need to pay with interest during the given tenure. It is a simple loan calculation tool that helps the user to calculate EMI and view the payment schedule quickly. 

Shubham Housing Finance Development Company has a unique EMI Calculator which allows you to calculate your loan tenure and monthly instalments to be paid towards the home loan repayment.

Why should you use an online EMI home loan calculator?

Borrowers who are not comfortable with complicated calculations, find it easier to estimate house loan EMI by using EMI calculators as it gives correct results and allows you to compare EMI on different home loan schemes instantly.

Here, let us take a look at some of the features of a home loan calculator:

1. Comparative analysis: 

You can compare the loan schemes provided by various banks and Housing Finance Companies. If you are looking for lower EMI and attractive interest rates, you can consider Shubham Housing Finance as it helps you to repay your loan comfortably.

If you have already taken a home loan from any other financial institution and are unhappy with the service or wish to reduce the burden, you can apply for Shubham Home Loan Balance Transfer.

2.Repayment scenarios: 

A home loan calculator may be used by a borrower to get the results by entering information such as monthly payments, interest rates, and loan tenure based on their repayment schedules.

3.Customized calculation: 

When you calculate the loan EMI, you know the particular amount, tenure, and interest rate, you have to pay when you borrow a loan. It helps you plan your finances before taking the loan so that your monthly budget does not take a hit. A borrower can also get customized results to reach the most suitable EMI according to their requirements.

4.Anytime Access: 

The EMI calculator is easy and convenient to use as it makes accurate calculations in less time. It can be accessed anytime and anywhere. You can use the calculator any number of times as per your convenience. You do not have to visit the branch or get involved with figuring out complex mathematical calculations; instead, you can access the Shubham online EMI calculator.

How to use a home loan calculator?

A home loan calculator helps you know the amount of EMIs that you will need to pay towards your Home Loan and helps make an informed decision. 

You can use the EMI calculator in three simple steps:

- You need to enter the loan amount you wish to take

- Then enter the loan tenure

- Enter the rate of interest

Using an EMI calculator, you have the flexibility to decide the amount that you are comfortable to pay off monthly and the duration for which you wish to make the payments depending upon your income and financial stability. With an affordable interest rate and flexible repayment tenure, Shubham Housing Finance ensures a comfortable home loan EMI for you. 

If you have any doubts related to your Home Loan EMI, you can reach out to us at customercare@shubham.co, or you can write your thoughts in the comment section below!