Want to calculate your monthly installments but don’t know how? Well, all you need to know about Bandhan Bank Home Loan EMI Calculator. Yes, this smart and effective tool allows you to know the exact values of your monthly installments, interest outgo and total amount payable in a hassle-free manner. You simply need to feed:
- Tenure
- Interest Rate
- Loan Amount
After feeding these values, the device fetches the value for you in just a few seconds. The tool functions very quickly and gives the accurate results, hence is preferred by many loan seekers.
Bandhan Bank Home Loan EMI Calculator
Let’s just know more about the same with the help of an example below.
Suppose, a 32-year-old, Ankita Sharma, Senior Manager by profession is looking for a home loan of INR 15 Lakh in Mumbai. She has applied for the same loan amount and Bandhan Bank has approved the same at an interest rate of 10.30% per annum for a tenure of 15 years. Before saying yes to the lender, she wants to know the exact calculations of his monthly installments. Thus, she used the home loan EMI Calculator for the same. So, let’s know the EMI, Interest and Total Amount Payable in Ankita’s case.
Table Showing EMI, Interest Outgo, and Total Repayment Amount
| Loan Amount | Interest Rate | Tenure | Monthly Instalment | Total Interest Amount | Total Amount |
|---|---|---|---|---|---|
| ₹ 15,00,000 | 10.30% | 1 | ₹ 1,32,083 | ₹ 84,999 | ₹ 15,84,999 |
| ₹ 15,00,000 | 10.30% | 2 | ₹ 69,425 | ₹ 1,66,206 | ₹ 16,66,206 |
| ₹ 15,00,000 | 10.30% | 3 | ₹ 48,612 | ₹ 2,50,044 | ₹ 17,50,044 |
| ₹ 15,00,000 | 10.30% | 4 | ₹ 38,260 | ₹ 3,36,497 | ₹ 18,36,497 |
| ₹ 15,00,000 | 10.30% | 5 | ₹ 32,092 | ₹ 4,25,546 | ₹ 19,25,546 |
| ₹ 15,00,000 | 10.30% | 6 | ₹ 28,016 | ₹ 5,17,168 | ₹ 20,17,168 |
| ₹ 15,00,000 | 10.30% | 7 | ₹ 25,135 | ₹ 6,11,332 | ₹ 21,11,332 |
| ₹ 15,00,000 | 10.30% | 8 | ₹ 23,000 | ₹ 7,08,005 | ₹ 22,08,005 |
| ₹ 15,00,000 | 10.30% | 9 | ₹ 21,362 | ₹ 8,07,147 | ₹ 23,07,147 |
| ₹ 15,00,000 | 10.30% | 10 | ₹ 20,073 | ₹ 9,08,717 | ₹ 24,08,717 |
| ₹ 15,00,000 | 10.30% | 11 | ₹ 19,035 | ₹ 10,12,665 | ₹ 25,12,665 |
| ₹ 15,00,000 | 10.30% | 12 | ₹ 18,187 | ₹ 11,18,942 | ₹ 26,18,942 |
| ₹ 15,00,000 | 10.30% | 13 | ₹ 17,484 | ₹ 12,27,493 | ₹ 27,27,493 |
| ₹ 15,00,000 | 10.30% | 14 | ₹ 16,894 | ₹ 13,38,262 | ₹ 28,38,262 |
| ₹ 15,00,000 | 10.30% | 15 | ₹ 16,395 | ₹ 14,51,187 | ₹ 29,51,187 |
EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
| Year | Principal | Interest | Balance Amount |
|---|---|---|---|
| 1 | ₹ 44,298 | ₹ 1,52,447 | ₹ 14,55,701 |
| 2 | ₹ 49,082 | ₹ 1,47,663 | ₹ 14,06,618 |
| 3 | ₹ 54,383 | ₹ 1,42,362 | ₹ 13,52,234 |
| 4 | ₹ 60,257 | ₹ 1,36,488 | ₹ 12,91,977 |
| 5 | ₹ 66,765 | ₹ 1,29,980 | ₹ 12,25,211 |
| 6 | ₹ 73,976 | ₹ 1,22,769 | ₹ 11,51,234 |
| 7 | ₹ 81,966 | ₹ 1,14,779 | ₹ 10,69,268 |
| 8 | ₹ 90,819 | ₹ 1,05,927 | ₹ 9,78,449 |
| 9 | ₹ 1,00,628 | ₹ 96,118 | ₹ 8,77,821 |
| 10 | ₹ 1,11,496 | ₹ 85,249 | ₹ 7,66,324 |
| 11 | ₹ 1,23,538 | ₹ 73,207 | ₹ 6,42,786 |
| 12 | ₹ 1,36,881 | ₹ 59,865 | ₹ 5,05,905 |
| 13 | ₹ 1,51,664 | ₹ 45,081 | ₹ 3,54,240 |
| 14 | ₹ 1,68,045 | ₹ 28,700 | ₹ 1,86,194 |
| 15 | ₹ 1,86,334 | ₹ 10,551 | ₹ 0 |
Bandhan Bank Home Loan Interest Rates {%MONTH%} 2024
When choosing a suitable home loan option for you, the interest rate is the most important thing that an individual needs to keep an eye on. Bandhan Bank Home Loan interest rate is one of the best in the market because of which so many people opt for it. Ranging from 8.65% - 13.00% per annum, you would be paying lower monthly installments while repaying the home loan.
We are providing some of the important details related to the Bandhan Bank Home Loan Interest rates in the table below. Check them out!
| Particulars | Details |
|---|---|
| Interest Rates | 8.65% - 13.00% |
| Loan Amount | Based on your income and repayment capacity |
| Tenure | Upto 15 Years |
| Processing Fee | 1% of the Loan Amount+GST |
| Part Payment Charges | Nil |
| Foreclosure Charges | Nil for Floating Loan Rate 2% to 4% of the Outstanding Principal Amount for Fixed Rate |
Bandhan Bank Home Loan EMI Calculation Formula
The calculator uses the below formula to calculate an EMI.
EMI = [P x R x (1+R)^N]/[(1+R)^N-1]
where,
EMI = Equated Monthly Installment
P = Principal Loan Amount
R = Monthly Interest Rate
N = Number of Monthly Installments
How to use the Bandhan Bank Home Loan EMI Calculator?
It is quite important to know the process by which the Bandhan Bank Home Loan EMI Calculator functions. You will only need a few details to feed into this tool. These details are the required loan amount, rate of interest, and the number of years that you will require to repay the loan.
After feeding these details into the tool, you will get the EMI amount instantly without any fail. Other than this, you will also get interest outgo and total payable amount over your loan tenure. You can also check the amortization table that can give you an estimate about your interest amount and outstanding balance at different points in your loan tenure. This will help you manage your finances efficiently.