IDFC FIRST Bank Home Loan EMI Calculator

IDFC First Bank offers its customers home and housing loans with a wide selection of properties for their different customers. They can also apply for the loans online and figure out if they are eligible. The IDFC First Bank also provides its customers with a low EMI option if they want.

If you want to choose the IDFC First Bank for your home loan options, you can estimate what the EMI on the home loan would be through an IDFC Bank Home Loan Calculator. 

What is the Meaning of the IDFC Bank Home Loan EMI Calculator?

The IDFC Home Loan EMI Calculator is an online tool that will allow you to check what your IDFC First Bank home loan EMI will be before you can take out the EMI at all. You would have to provide a few basic details, and the IDFC Home Loan Calculator will show you the below-mentioned information:

1. a) The fixed amount of EMI that you will be paying each month towards your home loan from IDFC First Bank's home loan.
2. b) The total amount of interest that you will be paying over the entire amount of principal amount that was given to you.

The IDFC Home Loan Interest Rate Calculator can also be used without any technical expertise in using online tools since it is a user-friendly tool and will not require a separate set of skills in order to be operated. 

How is the IDFC First Bank Home Loan Calculator Beneficial to You?

The IDFC First Bank home loan calculator can be used as many times as wanted. Moreover, knowing your EMI amount beforehand can assist you with planning a monthly budget. You will not have to seek any third party or bank assistance in order to know your EMI amount or the interest amount before the loan gets in your hand.

You can also make wiser decisions in the selection of the loan or the bank and know if IDFC First Bank is the best choice for your home loan. There are some significant benefits that the IDFC First Bank home loan calculator carried along, and they are:

• You will not be asked to sign in or login in order to use this calculator from Groww's website.
• You can also make comparisons; since there are no limitations to the number of times that you can use the IDFC First Bank home loan calculator, you can provide the different principal amounts and different tenures in order to know what are the interest amounts and EMI of each month that would be the most suitable to you.
• This calculator from Groww can be used free of cost, and you will not be charged in any way.

How to Use the IDFC First Bank Home Loan Calculator?

As mentioned, this is a user-friendly tool, and you would not have to go through the tedious task to know the solution. All you would have to do is follow the steps that are mentioned below:

Step 1

You can provide the amount you want as a home loan.

Step 2

You will now be asked to give in your most suitable tenure for repayment.

Step 3

You can choose the rate of interest rate that IDFC First Bank is giving its customers over a home loan on the calculator.

Step 4

You can now see the display of the IDFC First Bank home loan EMI and the interest amount.

How Does Groww's IDFC First Bank Home Loan Calculator Provide Instant Solutions to Users?

The users can get instant answers with a formula box that the calculator works on, and it has been explained below.

The formula that is used:

P - Principal Required

R - Rate of Interest of the Bank on Home loans

N - The tenure of repayment of the loan

An example to show how this would work:

Suppose you want to take a home loan from IDFC First Bank; the details of that home loan are mentioned to you below.

Principal = Rs. 61.7 lakhs

Tenure = 13 Years

Rate of Interest = 7.2%.

Therefore, the EMI = Rs. 61,018.

The Amortization Table

Based on the example that has been mentioned above, we can derive the breakup values or amounts of the home loan from IDFC First Bank. This table depicts them for the entire tenure: