Use A Home Loan Calculator To Plan Your Finance


Housing loans have made it easier for people to purchase their dream houses. With a housing loan, you can fund the purchase of a home and return the money to the lender over time. Those who have just begun working can also apply for housing loans. 

Before opting for a housing loan, however, it’s important to plan for the repayment. Without the right planning, you might find it difficult to pay the loan EMIs timely.

A home loan EMI calculator can ease the planning process for borrowers. Read on to understand how a home loan EMI calculator helps borrowers to plan their finances.

Breaking Down Home Loan EMI 

The total home loan cost includes the interest rate, processing fees, and other charges. The approved home loan amount is considered the principal amount.

The interest rate for house loans can be fixed or floating, depending on the lender and the borrower. The rate is applied to the available principal balance for each EMI. 

After each EMI, the borrower will repay a part of the principal amount to the lender. For the next EMI, the principal amount will be lesser, and so will the interest charge.

An EMI calculator for home loans can help you calculate the EMI amount for a housing loan.

EMI Calculator

An EMI calculator is a free online tool for borrowers to plan their finances for housing loans. It is available online on the websites of reputed lending institutions and housing finance companies.

For accurate results and faster processing, you can use the EMI calculator on the website of PNB Housing Finance. Enter the loan amount, repayment tenure, and ROI (Rate of Interest) on the EMI calculator. 

The EMI calculator will show the payable EMI amount based on the entered values. It will also notify the user about the total interest charge for a home loan. As the entry values change, the EMI amount will also change.

Users can plan their EMIs and apply for an affordable housing loan. 

The home loan calculator uses the following formula to generate accurate results:

  • EMI Amount = [P x R x (1+R)N ]/[(1+R)N-1]

In the above formula, P refers to the principal amount for the house loan. R is the monthly interest rate (percentage rate of interest divided by 12), and T is the tenure of the house loan. As you can see, the formula is complex, and it might take some time to know the EMI amount.

So, why depend on manual calculations when you have access to an EMI calculator for home loans?

Home Loan Planning with An EMI Calculator

With an EMI calculator, you can know the exact EMI amount payable throughout the loan tenure. The EMI amount will change according to the tenure and principal amount. By entering different values, you can check different loan plans. The right loan tenure can be decided based on your earnings.

The EMI calculator can help you decide the suitable tenure and loan amount before submitting the home loan application. When you have clarity, you will make a well-informed decision.


Anyone can compare house loans and decide on the best plan with a home loan calculator. This tool helps borrowers plan their finances to repay a home loan. They can know how much money they have to save every month/quarter to pay the home loan EMI.

Also, the EMI calculator is free to use tool available online. You can use the Home Loan EMI calculator on the PNB Housing Finance website before applying. 

So, check it out and plan your finances with this handy tool today!

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