Equated Monthly Installments (EMIs) in Home Loan refers to a preset amount to be paid by the borrower to the lender on a fixed calendar date of every month towards the repayment of the loan. The EMI depends upon your loan amount, interest rate and loan tenure. The advantage of an EMI for borrowers is that they know exactly how much money they will need to shell out every month and can plan the budget accordingly.
ICICI Bank a recognized Home Loan provider considers in providing all possible assistance to its customers. In order to give a convenient service to the potential ICICI Bank home loan customers the bank provides two very valuable tools that might prove to be useful. ICICI Bank Home Loan Calculators has made the task of eligibility computation and EMI calculation effortless for its customers. The borrower may use this online tool as a quick guide before availing Home Loan. This automated tool is very easy to use and provide the results immediately. You may know your possible loan amount with the help of ICICI Bank Home Loan Eligibility Calculator and your reasonable EMI with the help of ICICI Home Loan EMI Calculator. Gone are the days when borrower had to run from one lender to the other to compare the loan eligibility and others. It is very important for any housing loan borrower to have some idea about his eligibility and monthly EMI. These online tools proffer the advantage of planning your budget online from your home or office as per your convenience. ICICI Home Loan Calculator is a reliable tool. The system would ask for some very basic information to compute. It is very important for you to have some idea about the monthly EMI if you are looking to obtain a home loan. With the help of a home loan EMI calculator from ICICI Bank, you can make an estimate of the Monthly Equated Installment (EMI) that you will have to pay for a specific loan term. This calculator permits you to know whether you will be able to afford the EMI payments or not. To make calculation with loan EMI calculator, you are required to provide various details such as the total amount of loan, loan tenure in years, and interest rate of the loan.
Home Loan interest rate plays a vital role in evaluating a borrower’s eligibility. The eligibility of a borrower generally depends on the borrower’s repayment capacity. ICICI Home Loan Interest Rate has been planned in a way to cater a large segment. ICICI Bank home loan offers attractive rates and a number of benefits. The lender is one of the largest providers of home loans in India and has helped a large number of low and moderate income families to realize their dream homes.