# How PNB HFL Home Loan EMI Calculator Can Help You in EMI Estimation?

When it comes to the home loan facility, there are many people are in India that are unaware of the importance of EMI estimation before opting for the facility. This unawareness cost them in the time of repayment. As you know how there are so many individuals out there in our coutry who do not have their own homes because of the hefty prices of homes. To make them able to buy their own homes, there are several banks and housing finance companies provide the home loan facility to the customers. PNB Housing Finance Limited is also one of them that provide home loan to customers for various purposes such as home renovation, home extension, home purchase, and others.

But as we were talking about the EMI calculation part, you will be glad to know that this housing company also provides the PNB HFL home loan EMI calculator. With the help of this tool, you will be able to get an estimation of your monthly installments. In this article, we will be telling you how can you use this tool and what importance does PNB HFL home loan interest rate while the EMI calculation. SO, keep reading!

## What is the need to calculate the EMI amount?

Okay, this is a valid question to ask. I mean, yes, why do you even need to have an estimate about it when you can simply opt for a loan and pay it later via EMI. Let me give you an example then. Suppose that you take a large amount for your needs from your friend with the promise that you will pay it later through small amounts each month. And you took this amount without any estimation. When the time came for the repayment, you got to know that the monthly amount is so big that you are unable to pay every month because you can not afford it.

In a similar way, if you take a home loan amount without any estimation, it would be tough for you to pay the monthly installments. You must factor in the monthly income criteria because you will be paying from this only. That’s why it is important to have an estimation of the EMI amount beforehand. And the PNB HFL home loan EMI calculator perfectly does the job.

### What is the importance of Interest Rate in EMI Calculations?

When you are estimating the EMI amount, you need to understand that PNB HFL Home Loan Interest Rate has the most important part in it. Your EMI directly depends on the interest rate. A higher interest rate will fetch a higher monthly installment amount, and vice versa. That’s why it’s important to choose for a loan facility that can give you the loan facility at a lower rate of interest. Currently, PNB HFL is giving the housing loan at a rate of interest ranging from 9.25% to 11.50% per annum.

#### What are the details that you will need for EMI Calculation?

When you are calculating EMI with the help of the PNB HFL home loan EMI calcualtor, you will need a few basic details such as required loan amount, rate of interest, and required tenure. On feeding all these details into the calculator, you will get the EMI amount within a second. Apart from that, you will also get the interest outgo and the total payable amount.