Is There Any Benefit of Using Axis Bank Home Loan Calculator?

You can buy your own house with Axis Bank Home Loans it can provide you the best home loan schemes at affordable rate of interest. And, to make your loan process easy the bank provides a home loan calculator using which you can know your loan EMIs. Axis Bank home loan calculator is an online tool that calculates your monthly loan installments. Read the given article to know about the loan calculator benefits and Axis Bank home loan.

Instantly calculate your EMIs with Axis Bank home loan calculator

You can use the calculator easily by mentioning your home loan details like the borrowed loan amount (P), loan repayment tenure (N) and interest rate (R). Because the Axis Bank home loan calculator determines your EMI using the formula [P x R x (1+R)^N]/[(1+R)^N-1]. It calculates your loan EMI instantly in milliseconds and makes it easier for you to plan the loan payment.  You can repay your borrowed loan amount in 30 years using auto-debit, PDCs, ECS payment methods.

For instance, if you have taken a home loan of INR 10 lakh from Axis Bank at a fixed rate of interest 9.89% on a 30 years loan tenure. Then your calculated EMI would be INR 8,695 according to axis bank home loan calculator.

Enjoy the benefit of easy EMI payments with Axis bank home loan calculator

When you use the EMI calculator then you have an idea of your home loan EMI and choose a suitable tenure for its payment. You can also prepay the loan amount to reduce your EMIs or tenure of your Axis Bank home loan. Because, Axis Bank doesn’t charge any Prepayment charges from you if you have a flexible interest rate on your loan amount. But customers with a fixed rate of interest have to pay a 2% pre-payment charges on loan prepayment or foreclosure. You can also contact your relationship manager for additional benefits on your home loans.

Is Axis Bank provides you a suitable home loan?

Axis bank has a wide range of home loan schemes for the customer at a competitive rate of interest for house purchase, house construction, home renovation, and loan Top-ups. You will also get a benefit of 12 months free EMI on your home loan if you complete 15 years EMI without any delay or default. The Axis bank home loan interest rate ranges from 8.85% to 11%, you can select your desired type of interest rate whether floating or fixed according to your payment compatibility.

The bank also provides the facility of loan transfer using which you can transfer your existing home loan to axis bank. And, to know the interest rate benefit you can use the axis bank home loan calculator. So, apply for a home loan by submitting the loan application with the required documents and processing fee. After that, you will be notified if your home loan is approved and the amount will be disbursed to your account. Now, home finance becomes easier for the customer with the help of Axis Bank home loan calculator.