Home Loan EMI calculator- How to Reduce the EMI

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Do you want to apply for a home loan? Concerned about the EMI on a home loan? People want to live in the home of their dreams, for which they consider taking home loans. 

The borrowers can easily take-home loans from banks or financial institutions. They must repay the home loan amount to banks with the EMI. How much is EMI applicable on a home loan?

The amount of EMI depends upon the loan amount. Here the role of the home loan EMI calculator comes in. Read the article to get complete information on the home loan EMI calculator, including how to reduce EMI on your home loan. 

What is a home loan EMI calculator? 

The home loan EMI calculator is an online tool used to calculate the EMI immediately based on your home loan amount, loan tenure and interest rate applicable to it. This online tool also calculates the total principal payable, total interest payable and amortization schedule. 

In this way, the EMI calculator gives you a complete understanding and helps you plan your home loan repayment terms better. 

How the Home loan EMI calculator benefits you 

You can instantly calculate the EMI by using the home loan EMI calculator. Here are the various benefits of using the home loan EMI calculator: 

  • This EMI calculator helps you decide how much money you can borrow on a home loan.
  • The home loan EMI calculator helps you to decide whether you should go with a short-term or long-term home loan.
  • This tells also calculates your contribution towards the home down payment
  • The best thing is that the home loan EMI calculator helps you plan your finances better and repay the loan on time. 

A way to reduce the EMI on your home loan

To reduce the home loan EMI, you should consider the practices below. 

Make part prepayments when possible. 

While making part prepayments, you must pay the outstanding principal portion early, allowing you to reduce the loan EMI or tenure. It is only suggested to choose a lower EMI when you can make the full loan payments. 

Usually, the lock-in period of a home loan is about one year, after which you must fully or partially prepay the loan amount. 

Go for a home loan balance transfer.

You should transfer the outstanding amount of your home loan to the lender who provides the lower interest rate and a long tenure on your home loan. Before opting for the home loan balance transfer, you must do the cost benefits analysis to ensure that the savings on interest outweigh the transfer costs. 

Also, using the home loan EMI calculator is suggested to get an exact idea of how much EMI is reduced on a low-interest rate of a home loan. 


A home loan EMI calculator is a beneficial tool that helps reduce your loan’s EMI and informs you about timely repayments. 

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