Punjab & Sind Bank Home Loan EMI Calculator

Highlights

  • EMIs easing as home loan rates keep falling down
  • EMI Calculator - a must to know your repayment summary beforehand

About Punjab and Sind Bank Home Loan EMI Calculator

Made up your mind to avail a home loan from Punjab and Sind Bank (PSB)? Like the rates offered by the bank? Despite the attractive rates offered, it won’t be any harm to give one patient look at the EMI calculator that computes the future of your repayment days. This will only help plan your budget better.

EMI Calculator forHome Loan
Loan Amount (₹)
Interest Rate (%)
Tenure(year)
Results
Loan Amount
Interest Rate
Tenure(Months)
Monthly Instalment (EMI)
Total Interest Amount
Total Amount (Principal + Interest)
YearPrincipalInterestBalance Amount

What is EMI?

The EMI constitutes both principal and interest portions payable on a home loan. To calculate the EMI, you need three variables – loan amount, tenure and rate of interest. Just enter these values into the EMI calculator and see the results it draws on the screen. Keeping loan amount and tenure same, it’s the interest rate differential that will dictate the shape of repayment.

EMI Calculation Formula

The calculator computes the EMI based on a simple formula shown below.

E = P x R x (1+R)^N/((1+R)^N – 1),

E = EMI
P = Principal Loan Amount
R = Rate of Interest
N = Monthly Loan Tenure

Seeking an example to get a brief idea of the repayment? Your request is honoured below. Take a look.

Example – Sheetal Seth, a software designer, applies for a 35 lakh home loan at PSB, which offers the same at an interest rate of 8.40% per annum. The loan tenure chosen by her is 20 years. Let’s glance at the table below which gives a break-up of the repayment.

EMI Calculator forHome Loan
Loan Amount (₹)
Interest Rate (%)
Tenure(year)
Results
Loan Amount
Interest Rate
Tenure(Months)
Monthly Instalment (EMI)
Total Interest Amount
Total Amount (Principal + Interest)
YearPrincipalInterestBalance Amount

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