Know How to Calculate Home Loan Interest rate in simple steps
                     Know How to Calculate 
 Home Loan Interest 
Rate  in Simple Steps
STUDIO 
SHODWE
In simple terms, interest or interest rate refers to the amount 
that  has to be paid by a borrower in exchange for using assets 
 provided for a fixed duration by the lender. In the case of  
institutional loans, the asset is usually cash. The interest is  
charged as compensation for the time when the lender is 
unable  to use the money. Interest is thus also called the cost 
of  borrowing.
Therefore, when applying for a loan, you have to pay 
the  additional interest along with the loan amount at 
a  predetermined home loan interest rate.
YOU CAN
EMI IN THR H ONL
Online ca lcula tor m ethod:
You can calculate the monthly inte ount you
online home loan EMI calculator by following the d 
sStteep 1: Visit an online home loan interest calculator. be
Step 2: Enter the total loan amount, annual interest rate, and total 
loan  tenor.
Step 3: Get the monthly home loan EMI payable directly from 
the  calculator.
Apart from the interest payable, most calculators also display other 
 additional information. These may include total interest payable, 
home  loan processing fee, final payable amount, etc.
Factors affecting home loan interest 
raCtreedi:t score: Your credit score or CIBIL score is perhaps the greatest 
factor  affecting interest rates.
Financial stability:Well-paying and stable professions like those in the  
government sector are considered low-risk. Self-employed professionals 
like  doctors and accountants are also included in this group.
Nature of property:The property you intend to purchase can also impact
interest rates on a home loan.
Policy rate: Interest rates on loans are fixed by financial institutions 
based on  the RBI issued repo rate.
Loan tenor: The total duration of a  loan affects the interest rates. Loans 
with a
longer tenor will have lower EMIs, but at higher interest rates.
Inflation: Global inflation has a significant impact on interest rates. 
This  happens since inflation reduces the purchasing power of 
money.
Thank 
You