What is Emirates NBD Home Loan Calculator?
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.
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