PNB provides its existing and the potential home loan customers with an online EMI calculator that guides the home loan seekers about the amount of monthly installment they will have to shell out if they single out a particular home loan scheme. The Punjab National Bank home loan EMI calculator provided on the bank's website guides the loan applicant helping him get the amount of installments he will have to pay over a period of time in order to avail the desired home loan scheme and if it suits his requirements and capacity to avail and repay the loan thereafter he can surely apply consequently.
One has to pay the EMI month after month for a particular period of time for the settlement of the mortgage. The EMI is basically determined on the basis of three things the amount of loan acquired, the tenure for which the loan has been acquired and the rate of interest availed to procure the home loan. An EMI calculator is very advantageous for any person willing to apply for a home loan as the Equated Monthly Installment or the EMI is the principal mode of repayment of the home loan acquired. The EMI amount includes both the principal amount and the amount of the interest to be paid on a particular amount of home loan acquired.
The EMI calculator is simple and easy to understand and use. Given below are the steps to use the EMI calculator.
Using the PNB Home Loan Eligibility Calculator
- Enter the suitable housing loan amount.
- Enter the period for which one wants to avail the loan in terms of years.
- Add the interest rate one opts for.
After all these mandatory details are entered in the blanks all one has to do is press the 'Calculate' button and the amount of the EMI appears. In case the applicant is not satisfied with the outcome he can check and enter different different loan tenure and interest rate schemes and can keep doing this until he get the desired result.
In order to use the PNB HOME LOAN EMI CALCULATOR you can log on to the PNB Websitelog on: www.pnbindia.com