IIFL Home Loan EMI Calculator: Calculate EMI & Interest Online

Key takeaways: 

• The IIFL Home Loan EMI calculator helps you to estimate your monthly EMI before applying for a loan. 
• You can use this easy tool by providing a few basic details of your loan like the principal amount, tenure and interest rate. 
• You can also check if you can afford the home loan by using the IIFL Home Loan EMI Calculator based on salary. 

Bonus tip: 

Do you know? At IIFL Bank, you can get your home loan disbursement in the shortest period of 30 minutes. You are not required to wait for days to get your home loan amount and build your dream home. 

 The IIFL Home Loan EMI calculator is an online and user-friendly tool that helps you estimate the monthly loan repayment based on loan amount, interest rate, and tenure. You can also check your eligibility easily before applying for the IIFL home loan. 

The calculator requires a few basic details about the loan like the principal amount, rate of interest and the repayment tenure. The IIFL Home Loan EMI calculator based on salary helps you plan your monthly budget confidently before applying for a home loan. 

If you enter a loan amount of ₹50,00,000, repayment tenure of 26 years, and interest rate of 9%. The calculator will instantly show your EMI, total interest payable, and overall repayment amount without any manual calculation and in just a few seconds.

How to use IIFL Home Loan EMI Calculator

Below is the step by step process of using IIFL Home Loan EMI Calculator https://www.iiflhomeloans.com/home-loan-emi-calculator.

STEP 1- Enter the desired loan amount or adjust the slider accordingly. 

STEP 2- Then enter the repayment tenure by choosing monthly or yearly. 

STEP 3- enter the interest rate or adjust the slider.

STEP 4- Enter “Apply Now” to get instant results and check your IIFL Home Loan eligibility. 

By following the above mentioned steps you can easily use the IIFL Home Loan EMI calculator to know your monthly EMIs. 

Examples: 

Few examples to understand the calculator more easily are : 

Example 1: I am Rohit and I am planning to buy a 2BHK flat. I applied for a home loan from IIFL of ₹40,00,000 at an interest rate of 8.75% per annum for 20 years. I used the IIFL home loan EMI calculator based on salary to estimate my monthly EMI.
 

I made sure that my EMI will fit within my monthly income without affecting my savings. 

Example 2: Neha is a self employed woman who wants to buy her own house. She applied for a home loan from IIFL of ₹30,00,000 at an interest rate of 9% per annum for 15 years. 

Neha used the IIFL Home Loan EMI Calculator to plan her expenses and her loan repayment. 

What is the eligibility to apply for IIFL Home loan

Anyone can apply for a home if they meet the below eligibility criteria: 

• You should be an Indian citizen
• Your age should be between 18-75 years
• You should be either salaried employee or self employed to apply for the IIFL Home loan. 

Usually, to apply for a home loan, your income and repayment capacity is considered. However, the above factors also play a key role. 

What are the charges for IIFL home loans

Below table shows the list of fees and charges applicable to IIFL home loans: 

IIFL ensures transparency when it comes to the home loan fees and charges.

Conclusion: 

IIFL Home Loan EMI Calculator is an online tool that helps you to plan your monthly budget by managing the home loan repayments with clarity. It helps you to choose the right loan amount and repayment tenure by providing the EMI estimates. The calculator not only helps you with your future planning but also helps to manage your credit score in a better way. This reduces the future issues of repaying the loan in the longer run. 

FAQs

How do you calculate principal and interest amount in monthly EMIs?

You can use the EMI calculator by entering the loan amount , tenure and interest rate. You will get your total amount payable and total interest to be paid. 

How to use the EMI calculator?

You have to enter the principal amount, interest rate (annual), and tenure in months/years to use the EMI calculator for accurate results. 

What are the benefits of a loan EMI calculator?

A loan EMI calculator helps you to reduce your repayment tenure by providing EMI estimates and also helps you maintain a good credit score. 

Is going for a ₹25,00,000 home loan with ₹50,000 salary per month a good idea?

You can use the IIFL Home Loan EMI calculator to know if the loan is affordable or not. 

Is a home loan EMI calculator accurate? 

A home loan calculator is highly accurate as there is no chance of human error. The entire calculation is automated.