thorough planning is necessary before applying for a home loan proper research and planning enable candidates to compare lending institutions and settle on the most flexible credit facility in this regard monthly instalments or emis are one of the most significant factors to keep in mind while applying for a home loan a home loan emi calculator lets applicants determine their monthly instalments before using this line of credit features and benefits of a home loan emi calculator congratulationsyou have successfully cast your votelogin to view resulta home loan emi calculator is an online customised tool offered by several lending institutions that allow users to know the monthly instalments they are liable to pay one can use this free tool as often as they want and adjust the variables until they get their desired results some of the beneficial aspects of this online tool are as follows accurate emi calculations one of the reasons that make emi calculators popular is that it offers errorfree and precise results manual calculations are prone to errors an emi calculator cuts down the odds of incorrect results and provides a detailed emi breakdown within seconds the tool works on the following inputs desired principal amount for the home loan preferred repayment tenure current home loan interest charged by the financial institutionbased on the abovementioned variables the tools calculate the emi correctly and promptly userfriendly tool a home loan emi calculator is a simple tool and any user can use it without hassle one can follow these simple steps to use a home loan emi calculator step 1 choose the home loan emi calculator option from the official website of your desired lending partnerstep 2 fill in the home loan amount you want to borrow and the preferred repayment tenure step 3 choose the current home loan interest rate as charged by the lending institutioncosteffective analysis the home loan emi calculators prompt and accurate computation allow applicants to compare different lending partners and choose the best fit per their requirements in addition candidates can make unlimited variable adjustments enabling them to know different emi scenarios this financial tool works on the following mathematical formula emi p x r x 1r n 1r n1here p denotes the total loan amount r is the rate of interest as charged by the lending partner and n is total repayment tenure in months when you opt for a home loan to fund the expenses related to your property make sure to repay the monthly instalments responsibly willing borrowers can use the online home loan emi calculator to determine their monthly instalments knowing the emis before applying for a credit facility helps manage the finances without facing any hassle how to opt for a home loan in india willing borrowers can apply for a home loan by following these simple steps step 1 visit the official website of your preferred lending institution and locate the home loan application form step 2 fill up all the details in