How can Axis Bank Home Loan EMI Calculator Help You?

1. How can Axis Bank Home Loan EMI Calculator Help You? Home Loans are tedious loans. To service Axis home loans, one needs to master the art of planning and management. When you’ve the burden of a home loan on your shoulder, you can’t afford to have a regular luxury life. The reason being, the Equated Monthly Installments (EMIs), compromises of a major chunk of your salary. You should know how important it is to strike a balance between savings and expenditure. You should get your priorities right and spend on those things only. Rest everything should be dedicated to pay your loan. The sooner you get rid of the burden, the better it is for you. Thus, you should know what you are getting into before hand itself. The ​Axis Bank Home Loan EMI calculator​ helps you do that. Let’s explore some of the benefits of the Axis home loan EMI calculator: 1. ​Helps you take Informed Decisions: ​The ​Axis bank home loan​ EMI calculator helps you get a vivid understanding about the home loan you are going to take. It tells you about how much outflow of cash will happen from your net monthly income so that you can manage your lifestyle accordingly. Generally, EMIs subsumes 40-50% of your monthly income and leaving you with only 50% to live your life. So, the ​home loan EMI calculator​ is good in terms of planning and management. 2. ​Transparency: ​The​​EMI calculator draws a clear bifurcation of interest rates, monthly installments, tenure and principal amount left to pay. You will know how much interest rate you’ll be paying exactly. This helps you gain transparency and clarity. 3. ​Very Easy to Handle:​ It doesn’t involve any rocket science. It is very simple to especially designed for the usage of common man. You just have to deal with a couple of variables and you’re all set. 4. ​Choice of Right Tenure: ​Home loans are generally deals in high amounts which is difficult to be paid during a short period of time. So, it is important to choose the right tenure which is not too soon also, not too long. If the loans are taken for a long tenure, then the interest you pay is humongous. With the help of Axis Bank ​home loan​ EMI calculator, you’ll know the right tenure to pick for repayment.

2. Is it Easy to use Axis Home Loan EMI Calculator? ● Use the slider to select the loan amount you want to build your house or buy a house. ● Then choose the loan repayment tenure as per your convenience. Evaluate your needs and your repayment ability and choose accordingly. ● Choose the interest rate that will suit you. ● Some banks give away their processing fee and prepayment charges. Add this. ● You’ll have the EMI you need to pay in front of your eyes in a matter of few seconds. Is Axis Bank Home Loan Interest Rate reasonable Enough? Axis Bank offers loans at varied interest rates according to the quantum of finance. Loan provided is benchmarked to repo rate. Current benchmark for Axis Bank home loan interest rate stands at 8.50%. Axis Bank makes a clear bifurcation in the rates provided to salaried employees and self employed individuals. Loans up to ​₹​30 lakh can be granted at Axis Bank home loan interest rate of 8.90% to salaried and 8.5% to self-employed individuals. As the loan amount goes past ​₹​30 lakh and remains within ₹​75 lakh, the rate of interest goes up to 9.05% and 9.10% per annum for salaried and self-employed individuals, respectively. Loan amount exceeding ​₹​75 lakh would come with an interest rate of 9.10% for salaried and 9.15% for self-employed.