Are you planning to finalize the home or property then take Indiabulls home loan. The housing finance company provides home loans to the customer at an attractive rate of interest. Using the loan amount you can manage your property cost without any hassle. And to compute equated monthly loan installment of the loan, you can use Indiabulls home loan EMI calculator. To know how this device works and what are its benefits read the given article.
How does the Indiabulls home loan EMI calculator function?
The calculator is an online tool and one can use it by visiting the Indiabulls official website. It calculates the EMI using a formula [P x R x (1+R)^N]/[(1+R)^N-1], where P is your loan amount, R is the rate of interest and N is repayment period. That means you can generate the loan EMI by entering your loan details.
For instance, if your loan amount is 65 lakh for 25 years then the EMI would be INR 67.979 for 11.90% Indiabulls home loan interest rate. So if you want to know your loan EMIs then simply use the Indiabulls home loan EMI calculator.
Merits of using Indiabulls home loan EMI calculator
When you use the EMI calculator you will get the benefit of the accurate EMI calculation. Using which you can set a suitable tenure for loan payment. You can pay the loan amount and the applied interest rate of the Indiabulls home loan up to 30 years. And the interest rate can be fixed or floating depending on the borrower’s choice.
The floating Indiabulls home loan interest rate depends on the housing finance prime lending rate and changes annually. Whereas the fixed interest rate remains the same during the repayment period. The home loan interest rate is starting from 8.99% per annum on Indiabulls home loans. And to reduce the burden of interest you can make prepayment without any charges.
So with the help of EMI calculator, you can compare the existing loan interest rate and transfer your home loan to Indiabulls. On home loan transfer they applied a lower interest rate on the outstanding balance amount that is 8.80% to 12.00%. So these are the benefits you will get using the Indiabulls home loan EMI calculator.
Get home loan from Indiabulls
You can apply for Indiabulls home loan by visiting the official website. Check the eligbile amount you can borrow from the housing finance using the eligibility calculator and apply for the loan. Fill up the online application form and upload a few documents such as Aadhar card, PAN card, salary slip and ITR report. After completing the process you are required to pay a processing fee for the loan. The processing fee is non-refundable and 2% of the principal amount plus applicable GST will be applied to it. So whenever you have a thought of financing your home or property then get home loan from Indiabulls. And take the help of the online calculators for the assistance during the loan process.