When you are considering taking out a home loan, it is important to understand all of the potential costs involved. One way to get a better idea of what your payments might be is to use a home loan calculator. This tool can help you estimate how much your monthly payment will be, based on the size and terms of the loan. By using a calculator, you can get a realistic idea of what you can afford and prepare yourself for the financial commitment of owning a home.

A home loan calculator is an essential tool for estimating your monthly payments. You may not realize it, but having a precise estimate of the cost of your new house will assist you in planning ahead and ensuring that you can pay for what you’re purchasing. This article discusses how to use a home loan calculator for your needs, including what it is and how it works.

Factors that help to calculate the Home Loan

An EMI is made of three components – interest, principal amount, and tenure. Based on a few details about the home loan, the calculator gives an estimated amount of the EMI that needs to be paid.


The interest is the rate of interest that will be charged on the home loan. This rate may vary from bank to bank and it also depends on the tenure of the loan. The rate of interest that you are offered on your home loan is a big factor when considering how much you can afford to borrow.

Principal Amount

The principal amount is the amount that you borrow from the bank/HFC. This is also known as the loan amount or the principal. It affects your monthly EMIs significantly. The lower this value, the lesser will be your installments. The loan sum is in lakhs.


The length of time you will be repaying your loan is known as the term, which represents how long you will be paying back your loan. You can also refer to it as the stretch of your loan. This is generally recorded in months (or years).

On the link below, view it for yourself.

Shubham EMI Calculator

Benefits of Using the Home Loan EMI Calculator

There are many advantages of using the EMI calculation tool provided by Shubham Housing Development Finance, and it majorly includes the following benefits:

Easy processing:

You must fill in the amount of money, interest rate, and length of time for which you want to borrow. No complicated calculations or difficult mathematics is involved. The calculator will do the actual calculation.

Get the breakup of the finance charges: 

The EMI cost calculator is a handy financial tool for people who want to know how much it will cost them to borrow money over the term of their loan. Knowing the true value of your loan may help you estimate the actual cost of a loan. Banks and financial companies frequently publish them as a proportion of the loan amount, but knowing the genuine worth might assist you to comprehend the real cost of your loan.

Comparing loan offers: 

You may use the loan calculator to see which banks loan is best for you. The results will show you how much you’ll need to pay as well as the EMIs for each financial institution. It will help you choose the best alternative.

Choosing the right tenure: 

It’s also critical to understand your EMI since it affects the length of your loan. If you have the means to pay a higher EMI, you may borrow for a shorter period of time and pay off your loan as quickly as possible. You may also opt for a lower interest rate and extend your loan duration if you pay more on time.

Helps in authenticating information: 

The first stage in lowering your home loan EMI is to pick a lender that offers you a lower interest rate on a home loan. This is because lenders may include other costs in the EMI calculation, which you will have to pay.

Helps with loan management: 

Occasionally, while paying your EMIs, you may have a little extra money in your account to make payments. If you want to go over the financials and see how advances might help you pay off the loan before it expires.

How does the Shubham EMI calculator help?

Shubham Housing Development Finance’s Home Loan EMI calculator gives you a clear understanding of the estimated amount that you will have to pay towards your Home Loan EMI. It helps you to make an informed decision about the outflow towards the housing loan every month in assessing the own contribution requirements and cost of the property. Knowing the EMI is critical, and calculating the EMI assists you in planning your monthly budget.