Punjab & Sind Bank Home Loan EMI Calculator

Punjab and Sind Bank Home Loan Calculator – Key Features

The ability of the Punjab and Sind Bank Home Loan Calculator to provide customers with an accurate estimate of their monthly EMI payments and overall loan costs is a key feature. This online tool considers various factors, including loan amount, interest rate, loan tenure, and processing fees, to give customers a clear picture of the total amount they will have to repay over the loan term. Another essential feature of this calculator is its accessibility and ease of use, as customers can use it from anywhere and at any time to calculate their EMI and make informed decisions about their financing options. The Punjab and Sind Bank Home Loan Calculator is an excellent resource for customers looking to buy a home.

Why Should You Use Punjab and Sind Bank Home Loan EMI Calculator?

Anyone looking to take out a home loan should use the Punjab and Sind Bank Home Loan EMI Calculator. Customers can use this online tool to calculate their monthly EMI payments and the overall cost of their loan, allowing them to plan their finances better and make informed decisions about their financing options. This calculator shows customers their loan affordability and assists them in avoiding overborrowing. Furthermore, customers can use this tool from anywhere and anytime, making it quick and convenient. Overall, using the Punjab and Sind Bank Home Loan EMI Calculator is necessary to make an informed decision about your home loan.

Punjab and Sind Bank Home Loan EMI Calculator Formula & Example

The following parameters are used in the Punjab and Sind Bank Home Loan EMI Calculator formula:

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

Where,

• EMI stands for Equated Monthly Installment.
• P denotes the principal amount (loan amount).
• R = Monthly interest rate
• N = Loan duration in months.

Assume you obtain a home loan from Punjab and Sind Bank with a principal amount of INR 30 lakhs and an annual interest rate of 7.5% for a loan term of 20 years (240 months). Using the formula, the EMI will be calculated as follows:

EMI = [3000000 x 0.00625 x (1+0.00625)^240]/[(1+0.00625)^240-1]

= INR 24,748; as a result, your monthly EMI payment for the home loan will be INR 24,748 for the entire 20-year loan term. Using the Punjab and Sind Bank Home Loan EMI Calculator, you can quickly and easily calculate your EMI payments and plan your finances.

Benefits of Using Punjab and Sind Bank Home Loan EMI Calculator

The following are the advantages of using the Punjab and Sind Bank Home Loan EMI Calculator:

• Calculations are accurate and reliable: The EMI calculator calculates your monthly EMI payments and overall loan costs.
• Saving time: Using the online tool saves time that would otherwise be spent on manual calculations.
• Simple to use: The calculator is simple to use, with an easy-to-understand interface that requires little input.
• Use the calculator to plan your finances and make informed decisions about your loan tenure, principal amount, and interest rate.
• Overborrowing is avoided: The calculator assists you in avoiding overborrowing and incurring debt that may be difficult to repay.
• Available around the clock: The calculator is available 24 hours a day, seven days a week, allowing you to calculate your EMI whenever possible.
• Prepayments: Loan principal prepayments can reduce the outstanding loan amount, resulting in a lower EMI.

Factors Affecting Punjab and Sind Bank Home Loan EMI

Several factors influence the EMI of a Punjab and Sind Bank home loan. The most critical factors are:

• Loan amount: The interest rate is proportional to the loan amount. A more significant loan amount results in a higher EMI.
• The interest rate has a direct proportional relationship to the EMI. Higher interest rates result in higher EMIs, while lower interest rates result in lower EMIs.
• Loan tenure: The EMI varies inversely with loan tenure. A longer loan term results in a lower EMI, whereas a shorter loan term results in a higher EMI.
• Processing fees: The bank’s processing fees can also impact the EMI. Higher processing fees raise the overall loan cost, resulting in higher EMI. 
• Prepayments: Loan principal prepayments can reduce the outstanding loan amount, resulting in a lower EMI.

Punjab and Sind Bank Home Loan Amortisation Calculator

Punjab and Sind Bank Home Loan Amortization Calculator is a tool that assists customers in understanding their home loan repayment schedule. It computes the amortisation schedule, which breaks down each EMI payment into its principal and interest components over the loan term. The amortisation schedule shows the exact amount of principal and interest that will be paid off with each EMI payment, giving customers a detailed overview of their repayment schedule. It also displays the outstanding loan balance following each payment and the total interest paid over the loan term.

Amortisation Schedule for a Home Loan of ₹ 35 Lakh Over 15 Years

Assuming a 7.5% annual interest rate, the amortisation schedule for a 35 lakh home loan from Punjab and Sind Bank over 15 years would be as follows:

Year	Opening Balance	EMI	Interest	Principal	Closing Balance
1	3,500,000	33,955	262,500	71,038	3,428,962
2	3,428,962	33,955	256,717	76,820	3,352,142
3	3,352,142	33,955	250,579	82,959	3,269,183
4	3,269,183	33,955	243,987	89,550	3,179,633
5	3,179,633	33,955	236,934	96,603	3,083,031
6	3,083,031	33,955	229,412	104,125	2,978,906
7	2,978,906	33,955	221,413	112,124	2,866,782
8	2,866,782	33,955	212,928	120,609	2,746,173
9	2,746,173	33,955	203,949	129,588	2,616,585
10	2,616,585	33,955	194,468	139,069	2,477,516
11	2,477,516	33,955	184,474	149,064	2,328,452
12	2,328,452	33,955	173,959	159,579	2,168,873
13	2,168,873	33,955	162,914	170,624	1,998,249
14	1,998,249	33,955	151,329	182,209	1,816,040
15	1,816,040	33,955	139,197	194,341	1,621,699

Punjab and Sind Bank Home Loan EMI for ₹ 10 Lakhs

The EMI for a Punjab and Sind Bank Home Loan of 10 lakhs over 10 years at 7.5% per annum is as follows:

Payment Month	Opening Balance	EMI	Interest Component	Principal Component	Closing Balance
1	₹10,00,000	₹12,362	₹6,875	₹5,487	₹9,94,513
2	₹9,94,513	₹12,362	₹6,818	₹5,544	₹9,88,969
3	₹9,88,969	₹12,362	₹6,760	₹5,603	₹9,83,365
4	₹9,83,365	₹12,362	₹6,702	₹5,661	₹9,77,704
5	₹9,77,704	₹12,362	₹6,643	₹5,720	₹9,72,984
6	₹9,72,984	₹12,362	₹6,584	₹5,779	₹9,68,205
7	₹9,68,205	₹12,362	₹6,524	₹5,839	₹9,63,366
8	₹9,63,366	₹12,362	₹6,464	₹5,898	₹9,58,468
9	₹9,58,468	₹12,362	₹6,403	₹5,959	₹9,53,509
10	₹9,53,509	₹12,362	₹6,341	₹6,020	₹9,48,489

Punjab and Sind Bank Home Loan EMI for ₹ 20 Lakhs

The EMI for a Punjab and Sind Bank Home Loan of 20 lakhs over 10 years at 7.5% per annum is as follows:

Payment Month	Opening Balance	EMI	Interest Component	Principal Component	Closing Balance
1	₹20,00,000	₹24,723	₹10,417	₹14,306	₹19,85,694
2	₹19,85,694	₹24,723	₹10,354	₹14,369	₹19,71,325
3	₹19,71,325	₹24,723	₹10,290	₹14,433	₹19,56,893
4	₹19,56,893	₹24,723	₹10,225	₹14,498	₹19,42,396
5	₹19,42,396	₹24,723	₹10,160	₹14,563	₹19,27,833
6	₹19,27,833	₹24,723	₹10,095	₹14,628	₹19,13,204
7	₹19,13,204	₹24,723	₹10,029	₹14,694	₹18,98,510
8	₹18,98,510	₹24,723	₹9,963	₹14,760	₹18,83,750
9	₹18,83,750	₹24,723	₹9,896	₹14,827	₹18,68,923
10	₹18,68,923	₹24,723	₹9,829	₹14,894	₹18,53,029

Punjab and Sind Bank Home Loan EMI for ₹ 25 Lakhs

The EMI for a Punjab and Sind Bank Home Loan of 25 lakh over 10 years at 7.5% per annum is as follows:

Payment Month	Opening Balance	EMI	Interest Component	Principal Component	Closing Balance
1	₹25,00,000	₹30,904	₹12,938	₹17,966	₹24,82,034
2	₹24,82,034	₹30,904	₹12,852	₹18,052	₹24,64,982
3	₹24,64,982	₹30,904	₹12,765	₹18,139	₹24,47,843
4	₹24,47,843	₹30,904	₹12,678	₹18,226	₹24,30,617
5	₹24,30,617	₹30,904	₹12,590	₹18,314	₹24,13,303
6	₹24,13,303	₹30,904	₹12,502	₹18,402	₹23,95,901
7	₹23,95,901	₹30,904	₹12,413	₹18,491	₹23,78,410
8	₹23,78,410	₹30,904	₹12,324	₹18,580	₹23,60,830
9	₹23,60,830	₹30,904	₹12,234	₹18,670	₹23,43,160
10	₹23,43,160	₹30,904	₹12,144	₹18,760	₹23,25,400

Punjab and Sind Bank Home Loan EMI for ₹ 30 Lakh

The EMI for a Punjab and Sind Bank Home Loan of 30 lakhs over 10 years at 7.5% per annum is as follows:

Payment Month	Opening Balance	EMI	Interest Component	Principal Component	Closing Balance
1	₹30,00,000	₹37,085	₹15,626	₹21,459	₹29,78,541
2	₹29,78,541	₹37,085	₹15,532	₹21,553	₹29,57,988
3	₹29,57,988	₹37,085	₹15,437	₹21,648	₹29,37,340
4	₹29,37,340	₹37,085	₹15,342	₹21,743	₹29,16,597
5	₹29,16,597	₹37,085	₹15,246	₹21,839	₹28,95,758
6	₹28,95,758	₹37,085	₹15,150	₹21,935	₹28,74,823
7	₹28,74,823	₹37,085	₹15,053	₹22,032	₹28,53,791
8	₹28,53,791	₹37,085	₹14,956	₹22,129	₹28,32,662
9	₹28,32,662	₹37,085	₹14,858	₹22,228	₹28,11,434
10	₹28,11,434	₹37,085	₹14,760	₹22,325	₹27,90,109

Punjab and Sind Bank Home Loan EMI for ₹ 50 Lakh

The EMI for a Punjab and Sind Bank Home Loan of 50 lakhs over 10 years at 7.5% per annum is as follows:

Year	Principal Amount	Interest Amount	Total Amount	Balance
1	174,303	333,364	507,667	46,82,697
2	190,778	316,889	507,667	44,91,919
3	208,101	299,566	507,667	42,83,818
4	226,327	281,340	507,667	40,57,491
5	245,512	262,155	507,667	38,12,979
6	265,719	241,947	507,667	35,47,261
7	286,996	220,670	507,667	32,60,265
8	309,402	198,264	507,667	29,50,862
9	333,000	174,666	507,667	26,17,862
10	357,854	149,812	507,667	22,60,008
11	384,026	123,640	507,667	18,76,982
12	411,582	96,084	507,667	14,65,400
13	440,593	67,073	507,667	10,24,807
14	471,132	36,534	507,667	5,53,675
15	503,275	4,391	507,667	0