Monthly EMI | ₹ |
Principal amount | ₹ |
Total interest | ₹ |
Total amount | ₹ |
DCB Bank offers its customers home loans up to the number of Rs. 5 crores and for tenures that range up to a period of 20 years. These home loans are offered to salaried and employed individuals. These home loans are made easily repayable through an EMI, which means an equated monthly installment.
You can also estimate your DCB Bank home loan EMI before you can opt for the loan itself. In order to make that estimation, you can use the DCB Bank Home Loan Calculator.
This DCB Bank home loan calculator is an automated tool with a formula box that can help you identify the EMI amount and the interest amount instantly. You would not have to do any manual calculations, and you can incur human errors.
The calculator will always give you instant solutions to estimate these amounts over your housing loan from the DCB Bank.
The DCB Home Loan Calculator uses a formula box, as already mentioned, and it is explained below.
The formula that is used:
[P x R x (1+R)^N]/[(1+R)^N-1]
The letters in this formula mean:
P = Principal Amount for the Home Loan from DCB Bank
R = The interest Rate that the Bank offers you.
N = The period you want to borrow for.
This formula can better be explained with an example:
Miss. Sowmya wants to take a home loan of Rs. 32.5 lakhs for a period of 10 years at the rate of 8.55%. She will borrow the loan in the month of July 2022. Her EMI amount and interest amount can be known in the following manner.
P = Rs. 32.5 lakhs
R = 8.55%
N = 10 Years
Therefore the;
EMI = Rs. 40,382
Using this calculator is simple, and all that you would have to do is follow the steps that have been mentioned below:
Step 1
You will have to enter the principal amount that you want for a housing loan from DCB Bank.
Step 2
You will then have to provide the tenure that you want to take in order to repay the loan.
Step 3
You would then have to provide the rate of interest that the Bank is offering to you have the specific home loan.
After all this data has been updated on the calculator, the calculator will automatically show you the EMI amount that you have to pay each month, along with the total interest rate that the Bank is charging on your home loan.
Based on the home loan example that is mentioned above, we can derive an amortization table from showing the break-up values:
Year |
Interest |
Principal |
Total Payment |
Outstanding Loan |
2022 |
1,37,079 |
1,05,215 |
2,42,294 |
31,44,785 |
2023 |
2,60,223 |
2,24,367 |
4,84,590 |
29,20,419 |
2024 |
2,40,270 |
2,44,319 |
4,84,589 |
26,76,101 |
2025 |
2,18,541 |
2,66,046 |
4,84,587 |
24,10,054 |
2026 |
1,94,882 |
2,89,705 |
4,84,587 |
21,20,348 |
2027 |
1,69,116 |
3,15,472 |
4,84,588 |
18,04,877 |
2028 |
1,41,062 |
3,43,526 |
4,84,588 |
14,61,352 |
2029 |
1,10,514 |
3,74,076 |
4,84,590 |
10,87,276 |
2030 |
77,246 |
4,07,343 |
4,84,589 |
6,79,933 |
2031 |
41,020 |
4,43,569 |
4,84,589 |
2,36,365 |
2032 |
5,929 |
2,36,365 |
2,42,294 |
0 |
The DCB Bank home loan calculator has various benefits and features that it offers to the users, and some of the major ones are:
The DCB Home loan interest rate will vary each financial year. Moreover, the Bank has several types of interest rates that it offers to its customers. The salaried and self-employed customers will therefore have different rates of interest.
The DCB Bank home loan calculator will ask you to provide the interest rate that the Bank offers, the principal amount, and the tenure of the loan.
Yes. You can use the calculator even before you apply for the home loan from DCB Bank to estimate if it is a suitable and affordable decision.
Yes, self-employed individuals who are eligible under the criteria set up by the DCB Bank can also get a home loan from the Bank easily.
The DCB Bank home loan calculator can be used as many times as you want and repetitively. There are no particular restrictions on the number of times that this calculator can be used. You can also use the calculator to combine and compare various tenures and amounts.