Home Loan

[vanshikakumari]

What is Home Loan EMI and How it is calculated?

[Adykingcity]

What is Home Loan EMI and How it is calculated?

EMI stands for Equated Monthly Installment which is an important part of your home loan. It includes repayment of the principal amount and payment of the interest on the outstanding amount of your home loan.

Complete onformation here : https://www.hdfc.com/home-loan-emi-calculator

[tamradhwaj]

 home loan is a  legal agreement in which a person borrows money to buy property (such as a house) and pays back the money over a period of years.

[tamradhwaj]

What is Home Loan EMI and How it is calculated?

Home loan EMI : home loan is a  legal agreement in which a person borrows money to buy property (such as a house) and pays back the money over a period of years.

EMI calculation : The EMI could be calculated using the flat rate method or the reducing balance method. The EMI flat rate formula is calculated by summing the principal loan amount and the interest on the principal. The sum is divided by the number of periods in months.