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Commonwealth Bank Home Loan Calculator
|Commonwealth bank fufills the financial needs of an individual by giving out home loans at an affordable rate. At times a person might not be sure of the exact amount of money he/she will be able to repay after acquiring the loan. In order to solve this particular problem faced by the borrower, Commonwealth bank home loan department comes out with a very important and useful tool called the Commonwealth bank home loan calculator.
The calculator gives you a number of options which are as follows:
- Repayment frequency (in months)
- Loan amount
- Loan term (in years and months)
- Type of the loan
- Select the type of loan applied for
- Interest rate (starting at a minimum of 5.74 annum)
- Interest period (in years)
- Monthly fee charged by the bank
- Lump sum repayment option (Yes or No)
After giving out all the above information you need to click on the calculate button. The EMI charges on mortgage will then flash on the screen. The calculators given by the bank are generic in nature and it will only act as a guide in giving you an idea of the EMI charged on the housing loan applied. The amount that flashes on the screen might not be the final amount but will definitly be a round figure you would have to pay if you apply for a home finance. This tool comes very handy in deciding whether to go ahead in acquring the loan or wait and mentor the present financial conditions.
Types of Mortgage Calculators
After using the home loan calculator, you can also call up the bank and confirm the rate of EMI that would be charged. This is because, home loan rate of interest and the EMI keep fluctuating.
- Mortgage Calculators
- Lump sum payment calculator
- Mortgage repayment calculator
- Stamp duty mortgage calculator
- Savings calculator
- Variable and Fixed rate mortgage calculator
To calculate the home loan EMI, interest rates and tenure of the loan
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