Everything You Need To Know About Using A Home Loan Calculator Benefits

Getting a Home Loan to buy the house of your dreams is a milestone almost everyone dreams of crossing in life. But as exciting as it is, you need to plan things out beforehand and ensure you have all the numbers right.

You can do the same with the help of a Home Loan EMI Calculator before applying for the loan. Read on to learn more about this useful tool.

What is the Home Loan EMI Calculator?

The EMI Home Loan Calculator is an online tool to calculate EMI, payment schedule, and complete payment details.

EMI or equivalent monthly instalments refers to the amount you have to pay towards your Home Loan repayment every month, including the principal amount and the interest. A Home Loan EMI calculator gives you access to various permutations and combinations till you get your optimal EMI figure.

The Simple Formula Applied By House Loan EMI Calculators Is:

EMI = principal + interest payable on loan

The calculator gives you a breakdown of how much you need to pay towards interest and principal repayment after you enter these three main factors:

  • Loan Amount
  • Amount of interest
  • Duration of the loan

The Benefits of a Home Loan Calculator

A Home Loan EMI calculator helps you better plan your finances by providing an interactive platform to optimise your monthly payments. All you need to do is input the relevant information, and the calculator will give you an accurate and quick Home Loan EMI figure.

You also have the option of increasing or decreasing your tenure. This benefit can help you repay your instalment at a comfortable pace.

Here are the advantages of using a Home Loan calculator

Accurate Results

An online House Loan EMI calculator gives your 100% accuracy. The housing finance institutions can verify these results, and the accuracy helps you compare and decide the best offer that is made to you.

Quick Calculations

You spend hours calculating your loan manually. But, the EMI online calculator allows you to calculate a tentative EMI with just one mouse click, and you don’t have to check your calculations constantly.

Planning You Money

The EMI Loan Calculator helps you handle your funds, debts, and money for the future. Knowing your EMI Home Loan ahead of time will help you plan your future finances accordingly.

Helps Choose the Right Loan Term

After getting the exact EMI amount, you can choose the appropriate loan term. If you can’t afford to pay a high EMI, then choose a longer term to afford a comfortable EMI.

Loan Management Benefit

Customers can plan the down payment using the EMI calculator accordingly if they have extra cash to pay upfront. If you pour more of your savings into the down payment, the remaining loan amount diminishes, and so does the EMI.

Using the EMI Home Loan calculator and inputting the relevant details will help reduce the EMI. Go for a short tenure if the EMI is affordable, or choose a longer term, if you have other debts to cater to or if your income doesn’t allow a heavy EMI. 

Safe & Secure

You don’t have to divulge personal information or reveal your identity using a free online Home Loan EMI calculator, so it is safe.

Compare Loan Offers

You can compare various lending institutions’ offers, rates of interest and Home Loan tenure and settle for a loan that suits your specific details.


So, you see that it is not enough to meet the criteria to qualify for a Home Loan. Knowing your monthly EMI amount in advance is also essential for managing your finances to repay your Home Loan easily. 

PNB Home Loan EMI Calculator is a handy online tool where you can enter relevant details using cursors or manual entry; input details, and the calculator will allow you to determine your EMI amount in seconds!

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