What is Emirates NBD Home Loan Calculator?
When you have finally decided to own a home of your own, you may be looking for a home loan. With a plethora of choices from different lenders, one of the most important things to consider is the EMI (equated monthly installments) on the loan. Your EMIs are a fixed amount, which includes the principle and interest which you will pay on a monthly basis, until your loan is fully paid back.
An EMI calculator is often used by the lenders to give you an idea of your loan timeline and the EMIs to be paid monthly.
There are 3 main factors that influence an EMI:
1. Loan amount: Principal amount borrowed from your lender.
2. Interest rate: The rate at which your lender has agreed to grant you the loan.
3. Tenure: Duration for which you have taken the loan.
Based on the above factors, an EMI calculator computes the interest to be paid monthly. Calculate your monthly EMIs using Emirates NBD’s loan calculator
The calculator also helps you to ascertain affordability and can show you how to enhance your repayments for early debt retirements.
Let’s have a look at some of the benefits of using a home loan calculator:
1. No need for personal details: When you use an EMI calculator, there’s no requirement to reveal your personal identity, making it safe to toggle and calculate your loan repayment.
2. Future planning: The EMI loan calculator enables you to plan, as you can expect to set aside a monthly amount to be paid. This way your budgets are more efficiently managed, and you can work your way towards owning your dream home.
3. Comparison of other loans: Use the calculator to easily compare loans from other banks.
Borrowing a home loan is a big responsibility, but using an EMI calculator and planning ahead enables you to plan your finances better. Learn to manage your debts better here