What is a Home Loan EMI Calculator and How to Use it?
                     What is a Home Loan 
EMI Calculator and 
How to Use it?
About Home Loan EMI Calculator
A house EMI calculator is an easy-to-use tool that 
allows a potential borrower to calculate home loan 
EMIs easily in an instant. This, in turn, helps the 
borrower to make an informed decision regarding 
the home loan amount to be availed.
2
Home Loan EMI Calculator 
Formula:
EMI= [P x R x (1+R) ^N]/ [(1+R) ^N-1]
Here, P is the principal amount, or the loan amount borrowed,
R denotes the home loan interest rate applicable on a monthly basis,
N represents the number of monthly instalments.
Calculating EMIs using this formula, however, 
might prove to be a tedious task. This is exactly 
where a home loan EMI calculator comes in 
handy, as it processes the entire calculation in a 
few simple steps. 3
How to check EMIs Using a Home Loan Calculator?
The steps to use a house loan 
calculator in India are as follows -
● Step 1: Enter the home loan 
amount to be borrowed.
● Step 2: Fill in the rate of interest 
applicable.
● Step 3: Provide the loan tenor over 
which the loan would be repaid.
4
Benefits of Using a Home Loan EMI Calculator
The several benefits of using a housing loan 
EMI calculator are as follows -
● Accurately and instantly displays the 
payable EMIs.
● It is an online tool that can be accessed 
from anywhere.
● Allows a borrower to select the ideal 
loan tenor.
● Helps a borrower to make an informed 
decision on the loan amount.
● Offers assistance regarding repayment 
planning. 5
● Loan comparing becomes easier.
Any Question?
You can visit Bajaj Finserv official 
website
Website:- https://www.bajajfinserv.in/home-loan-emi-calculator 6