Indusind Home Loan EMI Calculator

The IndusInd Bank home loan calculator is a self-help tool that enables the user to compute the value of the EMI amount against the home loan. The calculator enlightens the user on the total cost they will incur if they avail of the home loan beforehand. IndusInd has steadily become synonymous with new-age banking offering transactional facilities and electronic banking services to cater to technologically proficient consumers. The IndusInd Bank Home Loan EMI calculator is available online and features a straightforward interface for the user’s convenience.

Features and Benefits of IndusInd Bank Home Loan EMI Calculator

The IndusInd Bank Home Loan EMI Calculator is a self-help tool designed to provide users with information regarding EMI amounts. It entails the following features and benefits.

• The tools are available online, and the user can utilise this tool from the comfort of their home at their discretion. 
• The interface of the IndusInd Bank Home Loan calculator is straightforward. Even first-time users can conveniently operate it. 
• The calculator user can efficiently compute the EMI payments they must pay against the loan. The user can further utilise this information to plan the loan amount. 
• The IndusInd Bank Home Loan Calculator also enables the user to compare different loan amounts and interest rates to select the one which suits their budgetary goals. 

How does IndusInd Bank Home Loan Calculator Work?

The IndusInd Bank Home Loan Calculator is a self-help tool that lets the user compute the value of their EMIs. The calculator is easy to use as the user is just required to mention the following to compute the EMI amount on the home loan.

• Loan Amount: It refers to the amount of loan the borrower is willing to obtain from the bank to purchase a property.
• Rate of Interest: The Rate of Interest refers to the money the bank will charge from the borrower against the loan.
• Tenure: This is the period in which the borrower will repay the loan to the bank. After mentioning the values mentioned above. The IndusInd Bank Home Loan Calculator will provide the users with the following computed values:
• EMI Amount: The monthly instalments that the borrower has to bear to repay the home loan throughout the tenure.
• Amortisation Table: The user would also get an overview of the repayment plan through the Amortisation Table. The table would give the user a detailed synopsis of the repayment schedule. 

The IndusInd Bank Home Loan calculator employs the following formulae to compute the value of EMI against the provided values:

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

Where,

• P is the Principal Amount
• R is the Rate of Interest
• N is the tenure of the Home Loan

For a better understanding let’s take an example. Suppose you want to avail of a loan of Rs 50 Lakhs from the IndusInd Bank to purchase a property. The interest rate charged on a loan is 9% per annum. And the tenure of the investment is 20 years. So by applying the formulae mentioned above:

EMI Amount = 50,00,000*9*(1+9)^20/[{1+9)^20-1],

The EMI on the loan would be Rs 44,986. 

How does EMI Calculation Help in Planning the Home Purchase?

The user of the IndusInd Bank Home Loan EMI calculator can assist the user in deriving the EMI amount against their home loan. It also helps the user in the following ways:

• Detailed Breakdown of Repayment Process

The EMI calculator provides a detailed breakdown of the repayment of a loan which enlightens the user regarding EMIs payable and the interest and the principal charges at the different stages throughout the tenure.  

• Accuracy 

The amount derived from the IndusInd Bank Home Loan calculator is accurate as the calculations are done through a sophisticated system. It is a better alternative when compared to manual calculations, which can be time-consuming and prone to errors and inaccuracies.

• Planning 

As the user is enlightened with the EMI payments against the loan beforehand. It allows them to map out their budget meticulously so that they can prepared to ready themselves for the significant financial obligation. As they have a detailed knowledge of the repayment process, they can make adjustments to make the repayment of the loan hassle-free.

• Comparability 

Users can conveniently compare the EMI amount by entering different values on the fields featured in the IndusInd Bank Home Loan Calculator. The user can enter multiple values of the loan amount, interest rates, and tenures to compare and compute the most suitable which complements their budgetary needs.  

Factors Affecting IndusInd Bank Home Loan EMI 

The EMI amount derived on the IndusInd Bank Home loan calculator is prone to be impacted by the following factors:

• Loan Amount: It goes without saying, the loan amount availed for the home loan directly impacts the EMI against it. A substantial loan would ensure a high EMI amount the borrower would have to bear. The borrower can reduce their EMIs if borrowing from the bank is not considerable.
• Interest Rate: Another factor that impacts the EMI amount is the interest rate charged on loans. A higher interest rate would make the home loan costlier. The interest rates on home loans vary from one financial institution to another. It is advisable to meticulously research the rates offered in the market to obtain the best deal.
• Tenure: The tenure of the repayment also influence the EMI against the home loan. The lengthier tenure breaks down the loan amount into smaller parts and makes the EMI payments more manageable. A borrower can reduce the EMI amount by opting for a tenure that helps them to budget the loan better.

IndusInd Bank Home Loan Amortization Schedule?

The table below exhibits the amortisation schedule for a home loan of INR 10,00,000 to be repaid in ten years. The Interest charged on the loan amount is 9% per annum.

Indusind Home Loan EMI for ₹ 10 Lakh

The following table compares the EMI on the IndusInd Home loans at different tenures on the same loan amount of Rs.10,00,000. The interest rate determined is 7.6% per annum. The amount can also be compared and calculated with the help of the IndusInd Bank Home Loan EMI Calculator.

Loan Amount	Interest Rate	Tenure	EMI (Rs)
10,00,000	7.6%	5	20,086
10,00,000	7.6%	10	11,992
10,00,000	7.6%	15	9,327
10,00,000	7.6%	20	8,117
10,00,000	7.6%	25	7,455
10,00,000	7.6%	30	7,061

Indusind Home Loan EMI for ₹ 20 Lakh

The following table compares the EMI on the IndusInd Home loans at different tenures on the same loan amount of Rs. 20,00,000. The interest rate determined is 7.6% per annum. The amount can also be compared and calculated with the help of the IndusInd Home Loan EMI Calculator.

Loan Amount	Interest Rate	Tenure	EMI (Rs)
20,00,000	7.6%	5	40,171
20,00,000	7.6%	10	23,845
20,00,000	7.6%	15	18,654
20,00,000	7.6%	20	16,234
20,00,000	7.6%	25	14,910
20,00,000	7.6%	30	14,121

Indusind Home Loan EMI for ₹ 25 Lakh

The following table compares the EMI on the IndusInd Bank Home loans at different tenures on the same loan amount of INR 25,00,000. The interest rate determined is 7.6% per annum. The amount can also be compared and calculated with the help of the IndusInd Bank Home Loan EMI Calculator.

Loan Amount	Interest Rate	Tenure	EMI (Rs)
25,00,000	7.6%	5	50,214
25,00,000	7.6%	10	29,806
25,00,000	7.6%	15	23,318
25,00,000	7.6%	20	20,293
25,00,000	7.6%	25	18,638
25,00,000	7.6%	30	17,652

Indusind Home Loan EMI for ₹ 30 Lakh

The following table compares the EMI on the IndusInd Bank Home loans at different tenures on the same loan amount which is 25,00,000. The interest rate determined is 7.6% per annum. The amount can also be compared and calculated with the help of the IndusInd Bank Home Loan EMI Calculator.

Loan Amount	Interest Rate	Tenure	EMI (Rs)
30,00,000	7.6%	5	60,257
30,00,000	7.6%	10	35,767
30,00,000	7.6%	15	27,981
30,00,000	7.6%	20	24,352
30,00,000	7.6%	25	22,365
30,00,000	7.6%	30	21,182

Indusind Home Loan EMI for ₹ 50 Lakh

The following table compares the EMI on the IndusInd Bank Home loans at different tenures on the same loan amount of Rs. 50,00,000. The interest rate determined is 7.6% per annum. The amount can also be compared and calculated with the help of the IndusInd Bank Home Loan EMI Calculator.

Loan Amount	Interest Rate	Tenure	EMI (Rs)
50,00,000	7.6%	5	1,00,428
50,00,000	7.6%	10	59,612
50,00,000	7.6%	15	46,635
50,00,000	7.6%	20	40,586
50,00,000	7.6%	25	37,275
50,00,000	7.6%	30	35,304

Comparison of IndusInd Bank Home Loan EMI with other Banks

The following table compares the Interest rate on Home loans with the interest rates offered by other Banks.

Bank Name	Rate of Interest (Per Annum)	Processing Fee
IndusInd Bank	8.10%  Onwards	Up to 1.5% of Loan Amount
Axis Bank	7.60 Onwards	Rs 10,000
HDFC Home Loan	8.10% Onwards	Up to 0.3% of the loan amount
Indian Overseas Bank	7.05% Onwards	0.5% of the loan amount
IDFC First Bank	7.50% Onwards	Rs 5,000
Punjab National Bank	7.4% Onwards	0.35% of the loan amount
Central Bank of India	7.20% to 7.65% Onwards	Rs 20,000
State Bank of India	8.05% Onwards	0.35% onwards
Citibank	6.65% Onwards	Rs 10,000
Kotak Mahindra Bank	7.5% Onwards	0.50%