To encourage buying a house, the central government and lending institutions have introduced several benefits on home loans. Be it the Credit-Linked Subsidy Scheme (CLSS) or the slashed housing loan interest rate – these measures have motivated several fence-sitters to take the plunge in the Indian housing market.
In today’s scenario, getting home loans have become easier. There are few important questions that should not be overlooked. After all, taking a home loan is one of the biggest financial commitments that one can make. Managing the equated monthly installments (EMIs) requires effective planning and management of the available funds.
If you are looking to take the home loan route for buying your home, then you are absolutely at the right place. Standing true to our promise of being your home buying assistant, we have introduced a new service of EMI Calculator on our user-friendly portal.
So, what does it do? Well, the RoofandFloor EMI calculator is a simple tool that helps you understand the home loan you can sustain efficiently with your current income.
Why do you need it? Knowledge of the amount that you will need to pay towards EMIs is very important to make an informed decision about buying your new home.
Using this tool, you can get to know about your EMI payments, interest rate and cash down payments for any project of your interest.
How does it work?
RoofandFloor’s exclusive EMI calculator works on three parameters. These include interest rates, down payment, and loan tenure.
Since every bank works on a different interest rate, the calculator gives you the flexibility to select the interest rate in the range of 8.5-11%. The second parameter, i.e. the down payment, is in the brackets of 15-80%.
Loan tenure gives you the option to select the loan period from 5-30 years. The combination of these three will help you arrive at an amount that will be paid by you as EMI.
Where can I find this feature?
EMI calculator is available for all the projects listed on RoofandFloor. You can find it on the tab that has details about BHK configurations and the price.
So, what are you waiting for? Estimate your EMIs in just three simple steps by using our feature-rich home loan EMI calculator now!