Importance of Home Loan Calculator for Financial Planning
A home loan is often the most significant financial burden an individual takes up in his/her lifetime. Since the loan amount is substantial, it is imperative to plan the repayment to its last details to avoid instances resulting in default of EMIs.
Access to a home loan EMI calculator can be worthwhile in this planning process. Online tools like these allow prospective home buyers to calculate and plan their repayment as per their suitability.
Know how a home loan calculator can aid in financial planning
A precise and quick calculation
One of the biggest advantages of using an online calculator like this is its accuracy. One can calculate home loan EMIs manually by using the EMI = [P x R x (1+R)^N]/[(1+R)^N-1].
Here P is the principal, R is the rate...