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Frequently Asked Questions

Why should I use an EMI calculator?

Home Loan EMI calculators help you to calculate your EMI amount based on the inputs entered. A house loan calculator is an effective tool. 

What will be the impact of part payments on my EMI?

Part payments help you reduce the interest calculated at the end of each month. They also help you reduce the principal amount on which the EMI is calculated. The EMI amount is also reduced as a result of part payments. The home EMI calculator will help you make a better decision about your part payment amounts. 

  • Calling the Bank’s customer service
  • Visiting the nearby branch
  • Submitting an application to the branch manager

What exactly are Home Loan EMIs?

Home Loan EMIs are the monthly installment amounts you need to pay to your bank against a Housing Loan you take. A housing loan calculator is a fast and easy way to calculate your EMIs. 

Can I prepay my Home Loan?

Yes. You can always opt-in to prepay your home loan. Please refer to our General Schedule of Features and Charges to know more.

What are the elements that influence home loan installments?

Home Loan EMIs are influenced by the interest rate, loan amount, and tenure.

Do I need to insure my home?

It is not mandatory to purchase insurance coverage for your home. But, it helps keep you financially safe in case of an unfortunate event

What does an EMI Mean?

An EMI (equated monthly installment) is a monthly payment paid by the borrower to the creditor. It can be calculated using a housing loan EMI calculator. Inputting the required values will help you find out the accurate amount of EMI. It is recommended to calculate your EMI using a housing loan EMI calculator before you apply for a loan. 

When will my home loan EMI be due?

With the house loan calculator find out the EMI then decide the date on which you want to avail of the loan. For loans availed till 15th of a month, EMI is deducted on the 5th of the next month. For the loans taken from 16th to 31st, the EMI is deducted on the 5th of next to next month. 

What is the benefit of calculating EMIs?

The home loan repayment calculator not only helps you know the EMI amount but also has other benefits you can enjoy if you calculate your EMI beforehand:

  • Financial planning
  • Make an informed decision
  • Helps reduce interest payment

How can I change my Home Loan EMI Date?

Calculate your EMI, interest rate, and tenure using the home EMI calculator before you decide to apply for a loan. Once you avail of the loan, the date for your EMI deduction is fixed. However, you can change your home loan EMI date by:

  • Calling the Bank’s customer service
  • Visiting the nearby branch
  • Submitting an application to the branch manager

Disclaimer (Things you should know):

For loans: Credit at the sole discretion of the Bank and subject to guidelines issued by RBI from time to time. Bank may engage the services of marketing agents for the purpose of sourcing loan assets.