When it comes to availing a home loan, it would not be wrong to say that it is a tedious task. Yes, it requires a lot of research to find the best lender, offering you the lucrative deal. And, in order to keep you away from the hassle of finding and searching the best lender, we are here to help. That’s Right! Today, in this article, we will not only let you know about the best lender but will also talk about other crucial aspects that will make your home loan journey memorable.
So, without wasting any time further, let’s just come to the point straight. Axis Bank, being a renowned name in the banking arena, worldwide known for offering you the best of deals for HL so that you can easily get closer to your dream home wish. The moment we talk about HL, the first thing that grabs the attention of many is the interest rate. Though, it is an important factor, but have you ever wonder about Axis Bank Home Loan EMI Calculator.
Yes, you read that right! Many people pay attention to the home loan interest rates at the time of availing of a loan and why not, after all, an interest rate is a crucial factor that can either make or break the situation for you. And, once you know the lowest home loan interest rates, what do you think tops second on the list? Well, it’s none other than the Equated Monthly Installments, commonly known as EMIs of your loan.
One should not only consider the interest rate at the time of availing a loan but keeping an eye on EMIs is also important. Yes, focus on keeping your monthly installments affordable so that it will reduce your overall loan burden. Now you must be wondering how EMIs are co-related with your overall loan outgo and Interest portion?
But before coming on the same, it is important that we should talk about a home loan EMI calculator. Yes, one-of-its-kind, magical device that allows you to calculate your monthly installments in a hassle-free manner. This smart tool is 24×7 available online to you and gives you the accurate and exact calculations in the least time frame, maybe in just a few seconds. Yes, it is that quick! You simply need to enter:
- Loan Amount
- Interest Rate
Yes, after feeding these three variables in the device, it fetches the values for you, allowing you to know the precise and exact EMI, Interest Outgo and Total Amount Payable towards your loan. Let’s just understand the proper functioning of this unique device with the help of an example below.
Suppose, Rakhi Verma, a 35-year-old, Interior Designer by profession wants to own a beautiful home in Gurgaon city. Thus, to fulfill her dream, he has applied for a home loan of ₹50 Lakh in few banks. After checking her home loan eligibility, Axis Bank has decided to lend her the loan at an interest rate of 8.40% per annum for a tenure of 30 years.
But before saying yes to the lender for availing an Axis Bank home loan, Rakhi wants to be fully sure about her monthly installments, hence she has decided to use an Axis Bank home loan EMI calculator online in order to know whether her monthly installments are going to be pocket-friendly or not.
The moment she feeds the values into the calculator, the device fetches the accurate results in just a few seconds so that there won’t be any delay in taking a calculative decision. So, in Rakhi’s, the EMIs and Interest Outgo comes out to be: ₹38,092 and 87,13,078 respectively.
Let’s just take a look at the features and benefits of a home loan EMI calculator online:
- Accurate and Exact Results
- Easy to Use
- 24×7 Available
- Helps in Taking Smart & Calculative Decision
However, now that you know the insights of Axis Bank home loan EMI calculator, hope you will have a memorable and a hassle-free loan journey in the future!