A home loan can fulfill the different needs of individuals. With a home loan, individuals can not only buy a home for themselves as a future investment but also can upgrade or repair their homes. Among several options at their disposal, Tata Capital Home Loan is one of the popular options among customers for a few crucial reasons. These reasons are affordable interest rates, quick loan amount disbursal, flexible repayment methods, highest home loan eligibility, etc. But one of the best things about this home loan facility from Tata Capital is multiple application methods through which you can get this home loan. With multiple application methods, Tata Capital Home Loan provides convenience to customers, so they can choose any of the methods according to their needs. There are 4 methods - Online, Phone, Virtual Assistant and Branch. In this article, we will be discussing these application methods along with the steps in the application process so that you can understand them better.
Having a home loan must be stressful for you but if you have a tool by which you can plan your repayments, it will be helpful for you. In this article, you will learn how to use an Axis Bank Home Loan EMI Calculator. Read to know more about it!
Where to Find the Axis Bank Home Loan EMI Calculator?
You can use this calculator on Axis Bank official website. Just follow the instructions below for it -
Visit Axis Bank official website
Go to its home loan
Click Axis Bank Home Loan EMI Calculator
You will be redirected to a new page
On the page you will see three rows with named loan amount, tenure and interest rate
Enter your Axis Bank home loan details
Look at the Amortization Schedule!
When you use the Axis Bank Home Loan EMI Calculator, and if you think that the EMIs remain uniform throughout the tenure, you should check the amortization schedule. There you will see the amounts which are to be repaid towards the borrowed principal and applied Axis Bank home loan interest rates.
If you see the table, you will notice the initial monthly installments contribute more towards the interest whereas in the later it goes towards the principal. The amortization schedule provides you the respective balances through every year of the loan repayment. So put an amortization schedule in your road map of repayment.
UseAxis Bank Home Loan EMI Calculator For Home Loan Balance Transfer
If you get a lower interest rate on Axis Bank compared to your existing home loan lender, you can transfer your loan. And in this also, Axis Bank Home Loan EMI Calculator will help you guide. You can use the tool and find the amount you will save from this transfer -
For example - Rahul has a home loan of INR 40 lakh at an interest rate of 8.50% per annum. He already paid EMIs for the last 2 years and there are 18 years of tenure left now. Rahul is currently paying an EMI of INR 34,713 and has to pay a total interior of INR 43,31,103. But luckily Rahul got the home loan balance transfer offer at 7.85% from Axis Bank. Now, let’s check out the table below and see how it will impact his savings -
So now you know how to use the Axis Bank Home Loan EMI Calculator in your favor, apply for an Axis Bank home loan.
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