The PNB home loan EMI calculator is a user-friendly financial tool to estimate the EMIs for home loans from the Punjab National Bank (PNB). It considers certain key factors, such as the home loan amount, applicable interest rate, and the loan's tenure, to calculate your monthly repayment schedule.
The PNB home loan EMI calculator is your digital companion that helps you calculate what it needs to unlock the doors of your dream home. You can use the calculator to assess different loan scenarios, evaluate your loan affordability, and determine the best repayment tenure based on your budget and financial capabilities.
The PNB home loan EMI calculator simplifies the estimation of the EMIs of your home loan with utmost precision. It requires three significant inputs- loan amount, tenure, and the applicable interest rate. Once entered, the tool applies a mathematical formula and computes the EMI, total payment, and payable interest.
The home loan EMI calculator formula is below:
EMI = [P x R x (1+R)^N]/[(1+R)^N-1]
P is the amount of money you borrow from the bank
R is the rate of interest per month charged by the bank
N is the tenure by which the loan has to be repaid (in months)
We can take an example to understand the formula better. Let's say you take a home loan from PNB Bank of Rs. 50,00,000 for a tenure of 10 years at an interest rate of 12%. Then your obligations would be as below:
EMI = Rs. 71,735
The total interest payable = Rs. 36,08,257
The total payment amount towards the loan = Rs. 86,08,257
The PNB home loan EMI calculator online is user-friendly and facilitates a seamless process with which you can estimate and plan your monthly loan repayments. Following the simple steps below, you can leverage the Angel One home loan EMI calculator online to plan your finances effectively and make informed decisions.
- Visit Angel One to access the calculator
- Enter the amount you wish to borrow
- Input the applicable interest rate per annum
- Enter the tenure of the loan within which you want to repay it
- The Angel One home loan EMI calculator instantly generates the results for you and shows you the estimated EMI of your home loan, the estimated interest and the total amount payable towards the loan.
PNB home loan EMI calculator that estimates EMI and offers a personalised home loan experience. Using the PNB home loan EMI calculator offers numerous benefits in informed decision-making. Here are some key advantages of a home loan EMI calculator:
- Financial planning: The PNB home loan EMI calculator gives you a clear estimation of the EMI, allowing you to plan your finances effectively and assess your repayment capacity to align it with their budgetary constraints.
- Transparency and accuracy: The PNB home loan EMI calculator provides accurate and instant calculations, eliminating the probability of manual errors. You can trust the results obtained from the calculator and be assured of getting a transparent view of your monthly repayment obligations.
- Time-saving and convenience: The PNB home loan EMI calculator simplifies and automates the process, saving both your time and effort and eliminating the chances of errors.
- Loan comparison: The PNB home loan EMI calculator allows you to compare different loan options by changing parameters such as amount, interest rate, and loan tenure. This facility helps to evaluate various scenarios and select the most suitable option.
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