How to Use the Home Loan Calculator

The Home Loan Calculator is a simple tool designed to help you calculate your monthly EMI (Equated Monthly Installment) for a home loan. Follow the steps below to use it:

Step 1: Enter Loan Amount

• In the input field labeled "Loan Amount (₹)", enter the total loan amount you wish to borrow.
• For example, if you are taking a loan of ₹50,00,000, enter 5000000.

Step 2: Enter Annual Interest Rate

• In the input field labeled "Annual Interest Rate (%)", enter the annual interest rate offered by your bank or lender.
• For example, if the interest rate is 8.5%, enter 8.5.

Step 3: Enter Loan Tenure

• In the input field labeled "Loan Tenure (Years)", enter the loan tenure in years.
• For example, if the loan tenure is 20 years, enter 20.

Step 4: Calculate EMI

• Click the "Calculate EMI" button to compute your monthly EMI.
• The result will be displayed in the result box, showing the following details:
  • Monthly EMI: The amount you need to pay every month.
  • Total Interest Payable: The total interest you will pay over the loan tenure.
  • Total Payment (Principal + Interest): The total amount you will repay, including both the principal and interest.

Example

• Loan Amount: ₹50,00,000
• Annual Interest Rate: 8.5%
• Loan Tenure: 20 years
• Result:
  • Monthly EMI: ₹43,391.67
  • Total Interest Payable: ₹54,14,000.80
  • Total Payment (Principal + Interest): ₹1,04,14,000.80

Key Features

• Simple and User-Friendly: The interface is easy to use and works seamlessly on both desktop and mobile devices.
• Accurate Calculations: Provides precise EMI calculations based on the loan details.
• Instant Results: Displays the results immediately after clicking the "Calculate EMI" button.
• Mobile-Friendly Design: The calculator is responsive and works well on all devices.
• Detailed Breakdown: Shows a detailed breakdown of the monthly EMI, total interest payable, and total payment.

This tool is perfect for anyone planning to take a home loan and wants to calculate their EMI in advance. Use it to plan your finances effectively!