IndusInd Bank Home Loan EMI Calculator

The IndusInd Bank is known to be a new generation Indian Bank. Along with its commercial transactions facilities, electronic banking, and more, the bank also offers its customers home loans that they can easily apply for online or even offline. These home loans they later return through an EMI. The EMI amount is fixed each month and needs to be paid on a specific date.

Also, it's important to remember that the EMI amount consists of the principal amount and interest amount each month. If you want to know how much your EMI would be before you could possibly get the loan, you can simply use the IndusInd Bank Home Loan EMI Calculator. 

What is the IndusInd Bank Home Loan Calculator?

The IndusInd Bank Home Loan Interest Rate Calculator is an online calculator that you can use from anywhere and at any time. This Home Loan EMI Calculator IndusInd Bank has the following features:

1. It can be used only online.
2. It does not require registering or paying in order to be used.
3. Anyone who wants to know the EMI or interest amount beforehand can use the calculator.
4. In order to use the calculator, you will need to know the principal amount you require, the tenure for the loan, and the interest rate that the bank is charging you.
5. You will not be required to have any technical expertise in order to use this calculator.
6. You can also use this calculator repeatedly several times in a row.

What is the Benefit of Using the IndusInd Home Loan EMI Calculator?

The people who use the Home Loan Eligibility Calculator IndusInd Bank will have the benefit any knowing how much EMI they will need to pay each month even before they can apply for the loan. This will ensure that they are making the right choice and that they can afford to pay the EMI each month.

This will also make sure that you can plan around your monthly budget and let you know if this is the right moment to take out the house loan for yourself. 

Other than these factors, there are several other attributes that make using the IndusInd Bank Housing Loan Calculator merit, and they are:

• It is an online tool, which means you do not have to make any physical visits to enquire about these details if you are planning on taking up a home loan.
• You will not be asked for any personal details; the tool can be used without any disturbance on Groww's website.
• You will have an estimated amount, which gives you the foundation idea of how you can repay the home loan that you take from the bank.
• You can also compare different values, and if there is the possibility of increasing the downpayment and reducing the amount of EMI or increasing the number of years to reduce or increase the EMI, you can make it happen.

How Can One Use the IndusInd Bank Home Loan Calculator?

There are only three simple steps to use the IndusInd Bank Home Loan calculator, and they are:

Step 1

You will have to drag your cursor along the line of the principal amount to the amount that you want as a home loan from the bank.

Step 2

You will now choose the tenure for which you want to repay the loan.

Step 3

Finally, you can enter the rate of interest that IndusInd Bank is giving you for the specific home loan.

How Does this IndusInd Bank Home Loan Calculator Give Us Instant Solutions?

The calculator works on a preprogrammed formula that is designed to calculate the amount of EMI and interest instantly. The formula that is used is -

The formula expanded:

P = The Principal Amount

R = The Rate of Interest

N = The tenure of the loan

This formula can also be explained or elaborated through a detailed example.

Ms Ramya wants to take a home loan from the IndusInd Bank in July 2022. She wants a housing loan for reconstruction, and the amount is Rs. 35 lakhs. The bank is offering her an interest rate of 9%. She chooses to repay the loan amount at the tenure of 12 years. Therefore, the calculation of her loan is as follows:

Principal Amount = Rs. 35 lakhs

Tenure = 12 Years

Rate = 9%

EMI = Rs. 39,831

Amortization Table

Based on the example that has been mentioned above, here is a table that shows us the break-even of the home loan over a period of time.