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How to use the Home Loan EMI Calculator?
1. Input your total **Loan Amount**.
2. Enter the **Interest Rate** offered by the bank.
3. Select the **Loan Tenure** (in years or months).
4. View your monthly **EMI amount** and total interest payable.
About Home Loan EMI Calculator
Our Home Loan EMI Calculator helps you visualize your monthly EMIs and total interest payable.
Adjust the loan amount, interest rate, and tenure to find a repayment plan that suits your budget.
Understanding your EMI breakdown is crucial for financial planning before taking a large loan.
Frequently Asked Questions
How is EMI calculated?
EMI is calculated using the formula: P * r * (1 + r)^n / ((1 + r)^n - 1), where P is Principal, r is monthly interest rate, and n is months.
Does tenure affect my EMI?
Yes, longer tenure reduces your monthly EMI but increases the total interest you pay over the life of the loan.