Home Loan in Pune

You can easily get a home loan through the Navi app. But planning your home loan EMIs can help repayments easier. Calculating the home loan EMI can help you plan your finances better. You can use the Navi Home Loan EMI Calculator to get an estimate of your monthly EMI obligations. Just insert the requisite amounts in the corresponding spaces to receive accurate results instantly. All you need to do is enter the loan amount, loan tenure and rate of interest. The online EMI calculator will display the results in seconds.

The formula to calculate home loan EMI is:

EMI = {P x R x (1+R) ^ N} / {(1 + R) ^ N – 1}

Here, P stands for the principal loan amount. R is the rate of monthly interest divided by 100. Finally, N stands for the number of EMIs you need to pay. For example, if the loan tenure is 10 years, then N will be 120.

Where, P = Principal loan amount, N = Loan tenure in months, R = Monthly interest rate

The rate of interest on your home loan is calculated monthly.

For example, if you have taken a home loan of ₹85 lakh at an interest rate of 7.39% and a loan tenure of 10 years, your monthly EMI would be:
EMI = ₹{85,00,000 x 0.00615 x (1 + 0.00615)^120} / {(1 + 0.00615)^120-1} = ₹1,00,409