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Topic: Home Loan (Read 496 times)

hero member
Activity: 770
Merit: 500
January 07, 2019, 02:36:10 AM
#6
What is Home Loan EMI and How it is calculated?

Home loan is nothing but borrowing money from bank or other financial institutions for constructing a house. Each bank has different interest rates for loans. so its better to go and ask the bank directly about the EMI details. They will explain to you everything in detail. I think OP posted this message just to try out this forum.
brand new
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Merit: 0
January 07, 2019, 01:41:54 AM
#5
Home loan is the amount of money anyone borrows to an institution like a bank or NBFC to buy a home. EMI is the home loan amount to be repaid to the lending institution with interest. One can easily calculate the home loan with the Home Loan EMI Calculator. It is an online tool in which the person input personal details in the calculator and easily get the equated monthly installment.
full member
Activity: 336
Merit: 101
November 07, 2017, 04:57:27 AM
#4
What is Home Loan EMI and How it is calculated?

Home loan EMI : home loan is a  legal agreement in which a person borrows money to buy property (such as a house) and pays back the money over a period of years.

EMI calculation : The EMI could be calculated using the flat rate method or the reducing balance method. The EMI flat rate formula is calculated by summing the principal loan amount and the interest on the principal. The sum is divided by the number of periods in months.

full member
Activity: 336
Merit: 101
November 07, 2017, 04:51:18 AM
#3
 home loan is a  legal agreement in which a person borrows money to buy property (such as a house) and pays back the money over a period of years.
sr. member
Activity: 420
Merit: 250
September 22, 2017, 12:30:04 AM
#2
What is Home Loan EMI and How it is calculated?
EMI stands for Equated Monthly Installment which is an important part of your home loan. It includes repayment of the principal amount and payment of the interest on the outstanding amount of your home loan.

Complete onformation here : https://www.hdfc.com/home-loan-emi-calculator
newbie
Activity: 2
Merit: 0
September 21, 2017, 11:13:47 PM
#1
What is Home Loan EMI and How it is calculated?
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