PNB HFL home loan is one of the most preferred financial products for the construction or purchase of real estate properties. With a competitive rate of interest and secured funding, the PNB HFL home loan has been helping thousands of salaried individuals, self-employed people, and businessmen.
Home loans come with long-term financial commitment and failing to plan it accurately can lead to penalties or repayment failure. PNB home loan EMI calculator provides a mathematical breakdown of the whole repayment scenario. You can use the tool multiple times before finalizing the home loan amount and tenure.
PNB Home loan calculator aims at enhancing your loan repayment abilities. Some of the main benefits are listed below –
Why take the risk of complicated calculations when you have a free financial tool to help you? Magicbricks Home Loan EMI calculator allows borrowers to compare various home loan options and find the one that fits their monthly budget.
The Magicbricks home loan calculator instantly shows your EMI and other associated finance charges when you fill in the details.
Usually, Home loan EMI is calculated with the help of the following formula –
E = P.r. (1+r)^n/[(1+r)^n-1]
where P = Principal/Loan Amount availed by the borrower
E= applicable amount of EMI
r = rate of interest per month (annual rate of interest divided by 12)
n = repayment tenure (in months)
For example, if any borrower avails a loan of 20 lakh for a tenure of 10 years at a 9.25% rate of interest, the applicable EMI will be –
E = 20,00,000 × .0077 × (1+.0077)^120/[(1+.0077)^120-1]
EMI = Rs. 25,607
Home loan amortization is the schedule denoting the periodic payments for a home loan. It offers a transparent picture of the actual amount the borrower needs to pay in each repayment cycle. Thus it helps the borrowers to organize the funds they have and pay-off the loan without defaulting.
If you have taken a home loan of Rs 25 lakh over a 10-year tenure at 9% annual interest from PNBHFL, your monthly EMI will equate to Rs. 31,669 and the total interest amount will be Rs. 38,00,274. Your amortization schedule will look like the following –
| Year | Beginning Loan Balance | EMI*12 | Interest Paid Yearly | Principal Paid Yearly | Outstanding Balance |
| 1 | 25,00,000 | 3,80,027 | 2,18,443 | 1,61,585 | 23,38,415 |
| 2 | 23,38,415 | 3,80,027 | 2,03,285 | 1,76,743 | 21,61,673 |
| 3 | 21,61,673 | 3,80,027 | 1,86,705 | 1,93,322 | 19,68,350 |
| 4 | 19,68,350 | 3,80,027 | 1,68,570 | 2,11,457 | 17,56,893 |
| 5 | 17,56,893 | 3,80,027 | 1,48,734 | 2,31,293 | 15,25,600 |
| 6 | 15,25,600 | 3,80,027 | 1,27,037 | 2,52,990 | 12,72,610 |
| 7 | 12,72,610 | 3,80,027 | 1,03,305 | 2,76,722 | 9,95,887 |
| 8 | 9,95,887 | 3,80,027 | 77,346 | 3,02,681 | 6,93,206 |
| 9 | 6,93,206 | 3,80,027 | 48,953 | 3,31,075 | 3,62,132 |
| 10 | 3,62,132 | 3,80,027 | 17,896 | 3,62,132 | 0 |
Disclaimer: The information available on this site has been gathered from publicly available sources and is accurate to the best of our knowledge. However, please be aware that the rates and other offers may vary based on your profile and may be subject to change without notice. Therefore, we advise you to verify the information before applying for any loan through this website. Magicbricks accepts no liability for any loss arising from the use of the information on this website. Refer T&C for the detail.
(T&C link: https://property.magicbricks.com/terms/terms.html)
**This service is available in select cities only.
*These calculators are only for illustrative purposes. These figures may or may not be applicable to your particular situation. Magicbricks will not be responsible for any loss or liability arising from the use of these calculators.
