How is Home Loan EMI Calculator Beneficial?

1. How is Home Loan EMI Calculator Beneficial? All of us want to have this pressing urge to buy a home when we are in our 30s. At the end of the day, everyone wants a peaceful retirement life. Purchasing a home is one of the costliest purchase decisions that a person makes in his lifetime. It makes sense that home loan amount which an individual borrows from lending companies is hefty. This implies the EMI payments will also take away a major dig on your monthly income. Thus,​​repaying a home loan can be tricky. If proper planning is not undertaken, it can jeopardize your financial stability. As home loans include hefty amounts, it can get tough to pay it sometimes, while juggling with other monthly expenses. The home loan EMI calculator helps you from not getting into a situation of financial crisis. The role of the calculator is to determine your monthly EMI, well-in-advance, so that you have the clarity of how you’ve to live your life after the loan. What is the Purpose of the home loan EMI Calculator? The purpose of the ​home loan EMI calculator​ is to help you determine the EMI (Equated Monthly Installment) that you’ll be paying every month to clear off the loan. This knowledge will give you clarity in your head and help you manage your month by taking some informed decisions. The EMI is calculated based on entering three factors - Loan Amount, Rate of Interest and Tenure of the loan. These factors are inter-linked, so, any changes in any of these factors will result in the decrease and increase in your EMI. How Can Bandhan Bank Home Loan EMI Calculator Help You? There are many ways in which the home loan EMI Calculator can be of benefit to you. Below mentioned are some ways: No Complex Calculations: ​The last thing you want to do while applying for a loan is to do Maths. And calculating the interest and EMI is not as easy as it looks. It involves compounding and various other formulas to get the final result. But the ​Bandhan Bank home loan EMI calculator​ does it all by itself without stressing you out. All you have to do is enter some details and boom, the results will be on your screen within milliseconds. Clarity: ​To service home loans, it requires a lot of planning and management. When you know in advance what your monthly EMI is going to be, you’ll know how to manage your month, what to spend on and what not to. The concept of opportunity cost plays a

2. big role here. Your monthly expenses should be on those goods only that brings maximum value to you and not on luxury. This is because EMI payment takes away a huge chunk of your regular income. Knowing it in advance helps you make informed decisions for the month. Instant Results: ​It’s not that you have to wait for results to be emailed to you or an executive has to call you to determine your EMI. The moment you hit ‘enter’, within milliseconds the results will be on your computer or mobile screen. How to use Bandhan Bank Home Loan EMI Calculator? Bandhan Bank ​home loan​ EMI Calculator probably is the most simplest form of technology you’ll ever use. It was designed keeping in mind the user’s convenience. All you have to do is enter three details as per your needs. Enter the home loan amount that you desire. Then, rotate the tenure slider to choose the tenure period of your loan. Lastly, choose the desired rate of interest that you want. And boom, you have the EMI on your screen in a matter of few milliseconds.