The online tool will compute the EMI amount instantly. The EMI calculator uses the formula EMI = / to compute the EMI amount.Įnter the principal loan amount you need, a reasonable interest rate, and the loan's tenure. But before you use it, you should have a rough estimation of the principal loan amount you need and the EMI you can pay, based on your monthly income and expenses. Using a Home Loan EMI calculator is incredibly easy and enables you to calculate the EMI amount within a second. Typically, the EMI amount is lower if you opt for a longer tenure loan, and higher if you opt for a short tenure loan. The monthly EMI payable against the loan depends on the amount loaned, the interest rate levied, and the borrower's repayment tenure. The EMI comprises a portion of the principal amount loaned to purchase the property and a portion of the interest component payable against the loaned amount. You can also use our EMI calculator for Home Loan to compute the EMI payable against your loan.Īn Equated Monthly Instalment or EMI is the fixed sum of money you pay each month whilst repaying your Home Loan. Now you can apply for Bank of Baroda Home Loans online and get pre-approved. You also get tax benefits on the principal component and the interest repayment portion. When you buy a property like a house or a plot of land, you invest in an asset whose value will appreciate. With Bank of Baroda, you can buy your dream house at one of the lowest interest rates, starting at 6.85%* p.a. It enables you to own a property by paying Equated Monthly Instalments (EMIs), adjusted to fit your budget and affordability. Taking on a Bank of Baroda Home Loan comes with its advantages. But with the ever-escalating property rates, it is almost impossible to buy a home without opting for a Home Loan. While it fills you with a sense of accomplishment, it also secures your financial future.
Know your potential Home Loan EMI to plan your monthly budget Introductionīuying a home is a life goal.