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10 things you must know about home loan EMI calculator

Online Availability

There are many home loan EMI calculators available online. All you need to do is a quick online search, and you’ll find many options at your disposal.

Free to Use

You don’t need to worry about any charges to use this financial tool online. That is because home loan EMI calculators are available for use free of charge. All you need to do is enter the details needed, and you’re good to go.

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Easy Input Details

You don’t need to fill in any complex details either. To calculate your home loan EMI, an online home loan calculator only needs three details — the loan amount, the repayment tenure and the interest rate.

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EMI Formula

The home loan EMI calculator uses the following formula to compute the amount you have to repay each month

No Limits on Usage

There are no limits on the number of times you can use an online home loan calculator. You can use this financial tool multiple times, without any limits or charges. This helps you see how your home loan EMI varies as the input parameters change. You can use the tool several times to find the optimal loan amount and tenure for your needs.

1. Amortisation Schedule 2. Better Financial Planning 3. Loan Comparison 4. Beginner-Friendly Tool 5. Useful for Fixed Rate Home Loans