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Banknomics Launches Home Loan EMI Calculator
Banknomics is a popular online financial consultant in India. With the excellent customer facilities, we offer verities of financial products. To make customer service more friendly Banknomics launches Home Loan EMI calculator.
The calculation of Interest rates or EMIs are complicated and irritating for most of the people, therefore keeping this in mind, Banknomics launches Home loan EMI calculator to give better customer service. With the help of EMI calculator, you can find the exact EMI amount or Interest rate of your Home Loan. By filling your loan details in EMI calculator you can get your result easily.
How EMI Calculator Work
Amount of Home loan – First of all calculate your budget and find out the amount of your need from home loan. From 2010, RBI set a limit for the home loan; according to this, you can take 80% of loan amount against to the value of your property. The remaining 20% amount will be considered as the down payment or the margin of home Loan.
Interest rate – Fill the interest rate as applicable on your loan or offered by banks. By visiting our official website www.banknomics.com you can get aware with the updated interest rates and best offers for the home loan. Banknomics put 10.5% as the default value of interest rate which is very close to the interest rates offered by most of the Indian banks these days. If you have already got some quotes from somewhere, you can increase or decrease the interest rates and get the result accordingly.
Loan tenure – Loan tenure is the time in which you have to repay the loan. In this, enter the number of months or year in which you think to repay the loan amount. The default value for loan tenure in Banknomics Home loan calculator is 20 years. Think wisely and be smart with Banknomics; basically the home loan applicants go for the long term loan tenure but somehow it's not a great decision because it will get more time and money as well. For example, if you applied for a home loan of Rs. 50 Lacs then the interest of this will be 30 for 10 years, but if the loan tenure is 20 years then you will pay 66 lacs. The long term loan tenure seems easy but burns a large amount from your pocket.
After filling all these details you can get the details in graphical representation on that same page. You can also fill all the details manually as per your requirements. At the end, you will get a complete detail about your Loan EMI, Total payable interest rate and Total payment (Principal + interest).
Compare and calculate your EMI with us Home Loan EMI Calculator. Follow Banknomics where "U COME FIRST". Visit at http://www.banknomics.com/
For more detail visit us at http://www.banknomics.com/