What is Home Loan EMI?
EMI stands for Equated Monthly Installment. It includes repayment of the principal amount and payment of the interest on the outstanding amount of your home loan. A longer loan tenure helps in reducing the EMI.
Home loan EMI calculator gives you an approximate figure for the total monthly installment payments.
Home Loan EMI calculators give a fair understanding about the ratio of the principal amount to the interest due, based on the effect of the tenure and interest rates.