Home Loan EMI Calculator3521 views
Are you in a search of a smart and time-saving tool that calculates your EMIs? If yes, all you need to know about Bank of Baroda Home Loan EMI Calculator. Yes, this magical and effective online device with its fastest algorithms allows you to know the exact calculations of your EMI, Interest Outgo and Total Amount Payable. A user needs to feed:
Loan Amount Interest Rate Tenure(Months) Monthly Instalment (EMI) Total Interest Amount Total Amount (Principal + Interest) Year Principal Interest Balance Amount
- Interest Rate
- Tenure
- Loan Amount
Soon after feeding these values, the calculator fetches the values for you in just a few seconds. The device functions so seamless and quick that you don’t need to bother at all. This amazing tool due to its 24×7 online availability is always there to make your home loan journey a hassle-free experience.
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Bank of Baroda Home Loan EMI Calculator
In order to have more clarity on the same, let’s just take a look at the example below.
Suppose, Ruchi Verma, a 30-year-old, Senior Content Writer in a Company is looking for a home loan of ₹30 Lakh to buy a home in New Delhi. She has applied for the same and BOB has agreed to offer the home loan at an interest rate of 8.30% per annum for a tenure of 30 years. But before saying yes to the lender, Ruchi wants to know the exact calculations of her EMIs. She wants to know whether her monthly installments are going to be pocket-friendly or not? Thus, she used a home loan EMI Calculator for the same. So, let’s see the results in the table below.
Table Showing EMI, Interest Outgo, and Total Repayment Amount EMI, Total Interest Outgo, Total Repayment (Interest + Principal)Loan Amount Interest Rate Tenure Monthly Instalment Total Interest Amount Total Amount ₹ 30,00,000 8.30% 1 ₹ 2,61,382 ₹ 1,36,579 ₹ 31,36,579 ₹ 30,00,000 8.30% 2 ₹ 1,36,093 ₹ 2,66,225 ₹ 32,66,225 ₹ 30,00,000 8.30% 3 ₹ 94,425 ₹ 3,99,294 ₹ 33,99,294 ₹ 30,00,000 8.30% 4 ₹ 73,662 ₹ 5,35,774 ₹ 35,35,774 ₹ 30,00,000 8.30% 5 ₹ 61,261 ₹ 6,75,649 ₹ 36,75,649 ₹ 30,00,000 8.30% 6 ₹ 53,040 ₹ 8,18,898 ₹ 38,18,898 ₹ 30,00,000 8.30% 7 ₹ 47,208 ₹ 9,65,497 ₹ 39,65,497 ₹ 30,00,000 8.30% 8 ₹ 42,869 ₹ 11,15,414 ₹ 41,15,414 ₹ 30,00,000 8.30% 9 ₹ 39,524 ₹ 12,68,618 ₹ 42,68,618 ₹ 30,00,000 8.30% 10 ₹ 36,876 ₹ 14,25,069 ₹ 44,25,069 ₹ 30,00,000 8.30% 11 ₹ 34,733 ₹ 15,84,728 ₹ 45,84,728 ₹ 30,00,000 8.30% 12 ₹ 32,969 ₹ 17,47,548 ₹ 47,47,548 ₹ 30,00,000 8.30% 13 ₹ 31,497 ₹ 19,13,481 ₹ 49,13,481 ₹ 30,00,000 8.30% 14 ₹ 30,253 ₹ 20,82,476 ₹ 50,82,476 ₹ 30,00,000 8.30% 15 ₹ 29,192 ₹ 22,54,477 ₹ 52,54,477 ₹ 30,00,000 8.30% 16 ₹ 28,278 ₹ 24,29,428 ₹ 54,29,428 ₹ 30,00,000 8.30% 17 ₹ 27,487 ₹ 26,07,267 ₹ 56,07,267 ₹ 30,00,000 8.30% 18 ₹ 26,796 ₹ 27,87,934 ₹ 57,87,934 ₹ 30,00,000 8.30% 19 ₹ 26,190 ₹ 29,71,363 ₹ 59,71,363 ₹ 30,00,000 8.30% 20 ₹ 25,656 ₹ 31,57,488 ₹ 61,57,488 ₹ 30,00,000 8.30% 21 ₹ 25,183 ₹ 33,46,242 ₹ 63,46,242 ₹ 30,00,000 8.30% 22 ₹ 24,763 ₹ 35,37,555 ₹ 65,37,555 ₹ 30,00,000 8.30% 23 ₹ 24,389 ₹ 37,31,358 ₹ 67,31,358 ₹ 30,00,000 8.30% 24 ₹ 24,054 ₹ 39,27,579 ₹ 69,27,579 ₹ 30,00,000 8.30% 25 ₹ 23,754 ₹ 41,26,148 ₹ 71,26,148 ₹ 30,00,000 8.30% 26 ₹ 23,484 ₹ 43,26,991 ₹ 73,26,991 ₹ 30,00,000 8.30% 27 ₹ 23,241 ₹ 45,30,037 ₹ 75,30,037 ₹ 30,00,000 8.30% 28 ₹ 23,021 ₹ 47,35,214 ₹ 77,35,214 ₹ 30,00,000 8.30% 29 ₹ 22,823 ₹ 49,42,450 ₹ 79,42,450 ₹ 30,00,000 8.30% 30 ₹ 22,644 ₹ 51,51,673 ₹ 81,51,673 Year Principal Interest Balance Amount 1 ₹ 23,607 ₹ 2,48,115 ₹ 29,76,392 2 ₹ 25,642 ₹ 2,46,080 ₹ 29,50,750 3 ₹ 27,853 ₹ 2,43,868 ₹ 29,22,896 4 ₹ 30,255 ₹ 2,41,467 ₹ 28,92,640 5 ₹ 32,864 ₹ 2,38,858 ₹ 28,59,775 6 ₹ 35,698 ₹ 2,36,024 ₹ 28,24,076 7 ₹ 38,777 ₹ 2,32,945 ₹ 27,85,299 8 ₹ 42,121 ₹ 2,29,601 ₹ 27,43,178 9 ₹ 45,753 ₹ 2,25,969 ₹ 26,97,425 10 ₹ 49,698 ₹ 2,22,024 ₹ 26,47,726 11 ₹ 53,984 ₹ 2,17,738 ₹ 25,93,742 12 ₹ 58,639 ₹ 2,13,083 ₹ 25,35,103 13 ₹ 63,695 ₹ 2,08,027 ₹ 24,71,407 14 ₹ 69,188 ₹ 2,02,534 ₹ 24,02,219 15 ₹ 75,154 ₹ 1,96,568 ₹ 23,27,064 16 ₹ 81,635 ₹ 1,90,087 ₹ 22,45,429 17 ₹ 88,674 ₹ 1,83,048 ₹ 21,56,755 18 ₹ 96,321 ₹ 1,75,401 ₹ 20,60,433 19 ₹ 1,04,627 ₹ 1,67,095 ₹ 19,55,806 20 ₹ 1,13,649 ₹ 1,58,073 ₹ 18,42,157 21 ₹ 1,23,449 ₹ 1,48,273 ₹ 17,18,707 22 ₹ 1,34,094 ₹ 1,37,628 ₹ 15,84,613 23 ₹ 1,45,657 ₹ 1,26,065 ₹ 14,38,955 24 ₹ 1,58,218 ₹ 1,13,504 ₹ 12,80,736 25 ₹ 1,71,861 ₹ 99,861 ₹ 11,08,875 26 ₹ 1,86,681 ₹ 85,041 ₹ 9,22,194 27 ₹ 2,02,779 ₹ 68,943 ₹ 7,19,414 28 ₹ 2,20,265 ₹ 51,457 ₹ 4,99,149 29 ₹ 2,39,258 ₹ 32,464 ₹ 2,59,890 30 ₹ 2,60,046 ₹ 11,832 ₹ 0
Bank of Baroda 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
