If you are thinking of buying or upgrading your home, the Navi Home Loan is a lucrative option as it offers a high housing loan amount for a long repayment tenure at a low-interest rate. In case you have any questions regarding your loan repayment schedule, you can use the Navi loan EMI calculator.

This tool helps you calculate your monthly equated monthly instalments (EMIs) accurately and instantly without any complex manual formulas or calculations.

All you need to do is enter the loan amount, tenure of the loan, and the applicable rate of interest. As soon as you enter these detail,s the calculator will instantly display a snapshot of your monthly as well as yearly payment instalments on the screen.

Online calculators, including the Navi Home loan interest rate calculator, use the following formula to determine the home loan EMI amount:

E = [P x R x (1+R) ^N] / [(1+R) ^N-1]

Where:

• E = EMI amount
• P = Principal loan amount
• R = Rate of interest (monthly)
• N = Period or tenure of the loan

You can also use the following formula in Excel: PMT(rate, tenure in months, principal amount, 0)

• It calculates your monthly EMI in easy steps.
• It provides an instant snapshot of your monthly as well as yearly payment instalments.
• It helps you calculate your EMIs accurately without any manual complex formulas or calculations.
• The Navi EMI calculator helps determine EMI with minimum inputs and gives the potential borrower a breakdown of their interest payment due on their home loan, along with the monthly repayment obligations.
• Doing complex financial calculations instantly helps you save time and the hassle of complex mathematics several times over.
• It eliminates the chances of human errors.
• It helps you make an informed financial decision.

Home loan EMI is based on three important factors, i.e. the interest rate charged by the lender, the loan amount you require and the tenure of repayment. Changes to any of these parameters or even specific policies of the loan provider can have an impact on your Home Loan repayment instalments. Using the Navi home loan EMI calculator can help you determine the right EMI that fits your budget. You can adjust the inputs (loan amount, interest rate, tenure) in the calculator till you reach the accurate EMI that suits your budget.

Any online home loan calculator uses the formula mentioned below 

E = [P x R x (1+R) ^N] / [(1+R) ^N-1]

Where E is EMI amount, P is principal amount, R is rate of interest (monthly), and N is period of time or tenure of the loan.

A Home Loan Calculator makes these complex financial calculations, helping you save time. It gives you a snapshot of your monthly repayment obligations over the next couple of decades, helping you make an informed financial decision.

The EMI Calculator gives you the two relevant outputs, i.e. the repayment amount due each month and the total amount you will have to repay (including principal and interest) before your loan can be considered fully paid and the house is entirely in your possession.