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The Advantages of Using a Housing Loan EMI Calculator

Aman Khanna
 


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The EMI that you have to pay for your Home Loan will determine how affordable it will be on the whole. And, by using a housing loan EMI calculator, a tool that you can access online, you can get the true value of what each EMI will be. Besides, this calculator is extremely simple to use. All you have to do is adjust the bars of the calculator that indicate tenor, principal and interest, and you will be able to view your loan’s EMI.

Take a look at the various benefits you can derive from using the Home Loan EMI calculator before applying for a loan.

Select the Right Loan:

A Home Loan EMI calculator shows you the value of each EMI and how this changes when the interest rate either increases or decreases. So, you can use this calculator to compare the EMI of one loan with that of loans provided by other lenders to choose the best Home Loan with the lowest Home Loan rates.

Ensure that you make your loan affordable by choosing a Home Loan from Bajaj Finserv. It offers you various benefits like online account management, flexible part prepayment, minimal documentation, online application, easy eligibility, nominal rate of interest, flexible tenor and even a top-up loan. Use the Home Loan EMI calculator to get a better idea.

Decide on a Budget for Home Purchase:

This EMI calculator allows you to adjust the value of the principal and tenor. So, you can view how the EMI changes by feeding in various principal amounts. Once you view these results you can accordingly decide on a principal that fits with your budget. This will not only help you borrow just as much as you need, but it will also help make repayment easy and hassle-free for you.

Review Multiple Combinations of Elements:

Home Loan EMI calculator has a simple interface and lets you set the tenor, principal and interest rates using sliding bars. So, by simply shifting the position of the bars, you can see how your loan is impacted. This allows you to understand how each of the loan’s elements impacts the others. By switching the principal, tenor and interest rate, you can see how best to customise you a loan to match your financial goals. For example, if your priority is to repay the Home Loan quickly, you can try various short tenors to see which one you can choose to repay the loan in the least amount of time possible, without exceeding your budget.

Enjoy Accurate Results, Quickly:

This calculator is computerised and is based on a mathematical formula. So, you get precise, error-free results every single time. However, the same can’t be said for when you calculate the EMI manually. Since you don’t have to double-check the results or take the time to calculate them yourself, you also end up saving time. Besides, once you feed in the values of the principal, the calculator gives you the EMI value in just a few seconds.

So, whether you’re planning for months to take a Home Loan or needed an instant Home Loan, don’t forget to make use of this handy tool. With a Home Loan EMI calculator, you can save time and prevent making mistakes that can cost you later on during the tenor.

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