Bandhan Bank Home Loan EMI Calculator

The Bandhan Bank Home Loan offers all its eligible customers a home loan for up to 90% of the funding. Bandhan Bank customers can also alter the home loans to micro-banking borrowers for their construction of pakka and semi-pakka houses.

However, all the schemes of the home loan will be repaid to the Bandhan Bank through an equated monthly installment or an EMI.

Your EMI to the Bandhan Bank for a home loan will always consist of the interest amount and the principal amount repaid each month in a combination. You can look at an amortization that is explained below. 

How Does the Bandhan Bank Home Loan Calculator Work?

The Bandhan Bank Home Loan EMI Calculator works with a preprogrammed formula that will automatically and instantly show you the EMI amount that you will have to pay on your home loan from Bandhan Bank.

In order to use the Home Loan Calculator Bandhan Bank from Groww, you will have to follow the steps that have been mentioned below.

Steps to Use the Bandhan Bank Home Loan Interest Rate Calculator From Groww

Here is a detailed way how you can use the calculator easily:

Step 1

You will have to give in the principal amount that you require for the home loan from the bank.

Step 2

You will then have to provide your most suitable home loan tenure, and it can be up to the tenure of 30 years.

Step 3

You will then have to enter the interest rate that the bank is offering you for the scheme of the home loan that you choose.

Step 4

You will automatically be displayed with the EMI amount to be paid over the loan and the entire amount of the interest that will be charged.

How Can the Bandhan Bank Home Loan Calculator be an Assistance to You?

There are various ways in which the Bandhan Bank home loan calculator can help you, and some of them are:

• You will get to use this calculator to know the EMI amount and interest amount from the Bandhan Bank home loan instantaneously.
• The tool could also be used in the form of a comparison tool to compare different types of amounts and terms to choose the right one.
• You can also access the calculator without any third-party assistance, from anywhere and at any given time, as long as you have an internet connection.
• You could also estimate the amount of EMI you will be paying and plan the monthly budget around it.

How Does the Bandhan Bank Home Loan Calculator Provide Instant Solutions?

The Bandhan Bank home loan calculator uses a formula box to establish instant calculations, which are explained below.

The Formula Used:

[P x R x (1+R)^N]/[(1+R)^N-1]

The Formula explains -

P = Principal Amount

R = Rate of Interest

N = Tenure

Here is an example to portray how the Formula will work:

If you want to take a home loan of Rs. 62 lakhs, at the rate of 8% for a period of 20 years in July 2022. 

P = Rs. 62 lakhs

R = 8%

N = 20 years

Therefore

EMI = Rs. 51,859

Amortization Table of the Bandhan Bank Home Loan

Here is a table that can show you the break up of the principal and interest over the 20 periods of time: