š PNB Home Loan EMI Calculator
š Results
| š Monthly EMI | ā¹0.00 |
|---|---|
| šø Total Interest Payable | ā¹0.00 |
| š·ļø Total GST Payable | ā¹0.00 |
| š° Total Amount Payable | ā¹0.00 |
Frequently Asked Questions
What is PNB Home Loan EMI Calculator?
The PNB home loan EMI calculator is an easy-to-use financial tool to estimate the EMIs for home loans. It takes into account some key factors, such as the home loan amount, interest rate, and tenure, to calculate the monthly repayment schedule.
The PNB home loan EMI calculator has a user-friendly interface that helps you calculate the estimated EMI and understand the repayment schedule. You can use the calculator to assess various loan scenarios, evaluate your loan affordability, and determine the suitable repayment tenure depending on your budget and financial conditions.
How to Calculate PNB Home Loan EMI?
TheĀ PNB Bank Home Loan EMI Calculator can provide the estimated value of EMI throughĀ few simple steps.Ā
You need to enter a few key details such as the loan amount, he interest rate and the loan tenure, and the calculator will display the estimated EMI amount that a borrower will be required to pay over the loan tenure.
A user can use it several times to arrive at a suitable EMI amount as per an individual’s budgetary needs and financial condition.Ā
Letās have a look at the different EMI values a borrower will have to pay for a specific example. Letās assume that an individual is looking for a home loan from PNB Bank. The interest rate offered is 8.5%. Hereās a look at how the EMIs will change for a borrower depending on the chosen loan amount and the tenure.
Loan Amount (Rs) | 10 years (Rs) | 20 years (Rs) | 30 years (Rs) |
25,00,000 | 30,996 | 21,696 | 19,223 |
50,00,000 | 61,993 | 43,391 | 38,448 |
75,00,000 | 92,989 | 65,087 | 57,869 |
1,00,00,000 | 1,23,986 | 86,782 | 76,891 |
PNB Home Loan EMI Calculation Formula
The following formula is used by theĀ PNB Bank EMI Calculator Home Loan:
EMI = [P x r x (1+r)^n]/[(1+r)^n-1]
In which,
P = loan amount
r = monthly interest rate
n = loan duration in months
Example for PNB Home Loan EMI Calculator
Letās assume that an individual borrows home loan of Rs 50 lakh for a duration of 20 years or 240 months at an interest rate of 8.5% per annum.Ā
Using the formula for EMI calculation:
EMI = [P x r x (1+r)^n]/[(1+r)^n-1]
EMI = [ 50,00,000Ā xĀ 0.085/12 x (1+ 0.085/12)^240]/[(1+0.085/12)^240-1]
EMI = [ 50,00,000 x 0.00708 x (5.441242)]/ [4.441242]
EMI =Ā 43,391 (approximately)
Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā
How can PNB Home EMI Calculator help you?
The PNB Bank Home Loan Calculator can help you in the following ways:
Calculate estimated EMIs:Ā It displays accurate EMI amounts that you will be required to pay over the home loan tenure. The online tool offers better convenience as against manual calculation, which can be a time-consuming activity.Ā Ā
User-friendly interface:Ā Any potential borrower can use it in an easily. It is possible to computeĀ the EMI amount by entering key inputsĀ such as loan amount, loan tenure, and rate of interest.
Draw a comparisonI:Ā You can perform various permutations and combinations of loan amount and repayment tenure using the PNBHome Loan Calculator to determine which of them offers the most convenient EMI. You can meticulously assess your liabilitiesĀ and affordability before actually opting for a home loan.Ā