Hello,

Guest!

Calculate Bandhan Bank Home Loan EMI

50000020000000
120
130
Total Payments-

₹5,000,000

Total Interest-
₹0
Principal Amount-
₹5,000,000
Total EMI

₹0

View Details
  • Loan Amount
  • Interest Rate
  • Your EMI
  • Tenure
  • ₹5,000,000
  • 6.4%
  • ₹0
  • 30
Updated:

Bandhan Bank Home Loan EMI Calculator Details

Taking a home loan is a huge responsibility, and it comes with a lot of pressure at times. However, if you use an Online EMI Calculator to calculate your EMI beforehand, it can save you a lot of time during your tenure. It will make you prepared for the procedure and help you make informed decisions in the future. The process can be intimidating for some people at times. It is always a good idea to plan your monthly expenses and your EMI before you apply for a home loan. If you are planning to take a home loan at the Bandhan bank, use the Bandhan bank home loan EMI calculator to calculate how much you will have to spend on a monthly basis before you take a home loan.

Want to calculate your monthly instalments but don't know how? We have got you covered. Here is what you must know regarding why and how you need to use the online calculator to figure out your EMI before applying for a home loan.

Additional Info: Also check Rs. 1 Crore Home Loan EMI

How to use Bandhan Bank Home Loan EMI Calculator?

Using the online EMI calculator is one of the fastest and the most feasible tools that you can use to calculate your EMI beforehand.

The only things that you will need are the loan amount, the tenure, and the interest rate offered by the bank.

  • The first and foremost step is to put the loan amount that is required. It can be anything between 15,00,00 to 5000,00.
  • After selecting your loan amount, you will be asked to select a tenure next. It can be anything between three years to 30 years. Your tenure will directly affect your EMI that you will need to pay on a monthly basis after you Take a Home Loan.
  • After you select these two things, you will be asked to put the interest rate. Currently, Bandhan Bank offers an interest rate of 6.40% for home loans.

After selecting these three things successfully, the accurate result will come up on your screen in a few seconds. If you are not satisfied with the result, you can try applying different combinations until you get a perfect plan that suits your budget.

Additional Info: Also check 75 Lakh Home Loan EMI

Bandhan Bank Home Loan Interest Calculator Formula

The formula that the home loan EMI calculator Bandhan bank follows is PxRx(1+R)^N/([1+R)^N]-1).

R here stands for the monthly interest rate that is offered by the bank. P here stands for the entire loan amount that you want to take from the bank. The N stands for the number of instalments.

It is a formula that is followed by most of the leading banks in India to give a 100% accurate result to the customers beforehand.

You can alter the numbers to check if you are selecting an appropriate loan plan that will fit your budget.

Know in detail: Simple Interest Formula Calculation.

Benefits of Bandhan Bank Home Loan EMI Calculator

If you want to Apply for a Home Loan at the Bandhan Bank soon, it is ideal to use the online EMI calculator to figure out your EMI that you will have to pay in instalments after you take the loan from the bank.

It will save you a lot of time in the future as well. Here are some benefits of using the Bandhan bank home loan EMI calculator:

  • It is a completely online tool that you can use from the comfort of your home from your smartphone or your laptop. It will give you an accurate result in a few seconds. She will not be required to visit the bank to calculate your monthly instalments before taking a home loan. Therefore, it saves significant time and makes your journey hassle-free.
  • With the help of the formula, it gives you an accurate result that you can completely rely on before taking a loan.
  • You have the opportunity to try different combinations on the calculator before selecting one plan. Try putting different loan amounts, tenures, and interest rates to understand if you are selecting the right plan that suits your budget.
  • After you get a loan, you can still use the online EMI calculator to check your current balance and calculate the rest instalments that you need to pay by the end of your tenure.

Additional Info: You can also Check AnyRoR Gujarat Land Record

Why should you use Bandhan Bank Home Loan EMI Calculator?

It is a smart idea to use the Online Home Loan EMI Calculator before you take a home loan from any bank. Here are the main reasons why you should consider using the Bandhan Bank Home Loan EMI Calculator before applying for a home loan:

  • You have the freedom to choose different loan amounts, interest rates, as well as different tenures. This feature helps you understand which plan is the most suitable for you out of them all. 
  • You can also compare your EMI rates with other interest rates offered by other leading banks in India to figure out if you are going for the best plan that fits your affordability.
  • Calculating your monthly investments can save you from a lot of financial troubles in the future. You can plan your future investments based on your monthly amount.
  • Before you take the loan, you can calculate your monthly EMIs. And during the tenure, you can count your remaining loan tenure with the help of the calculator, which makes the entire repayment procedure even easier for you.
  • It gives you an accurate result that you can completely rely on.

Additional Info: Also check Pan Number for Banks

Comparison of Bandhan Bank Home Loan EMI with other Popular Banks

Before you apply for a loan, go through the interest rates of other banks as well to get an idea of the overall EMI picture of India. Make sure you choose the right plan and apply for it. 

Take a look at the charts to understand if you are choosing the perfect plan for you.

Bank NameLoan amount of 50 LakhLoan Amount of 30 LakhInterest Rate
Bandhan49,500/-29,552/-8.75%
SBI 32,098/-19,259/-6.65%
HDFC32,264/-19,358/-6.70%
ICICI32,264/-19,358/-6.70%
AXIS32,098/-19,259/-6.65%

Different banks offer different Home Loan Interest Rates based on which the monthly EMI rates are calculated. The HDFC Bank and the ICICI Bank offer an interest of 6.70%. The Axis bank offers an interest of 6.65%. Bandhan bank currently offers an interest rate of 6.40%, which is similar to most of these popular banks. Based on your budget and future affordability, choose the home-loan plan that suits you.

Bandhan Bank Home Loan EMI Calculator to Estimate the EMI That Fits Your Budget

The home loan EMI calculator Bandhan bank allows you to try different tenures, loan amounts, and interest rates before you apply for a home loan at the bank. Make sure you try different combinations to see if you are going for the right plan that suits your budget.

Take a look at the chart to see the difference between different EMI amounts based on different tenures.

Loan amount30 years20 years15 years
1 cr76,891/-86,782/-98,474/-
75 lakh57,669/-65,087/-73,855/-
50 lakh38,446/-43,391/-49,237/-
25 lakh19,223/-21,696/-24,618/-

When you choose a short tenure, the monthly payable EMI remains on the higher side and vice versa. The entire payable amount increases when you select a short tenure in comparison to longer tenures.

Additional Info: You can also avail Navi Home Loan

Factors Affecting Bandhan Bank Home Loan EMI

There are several factors that directly affect your EMI. you should try and alternate these amounts to figure out which plan suits you the most.

  • The tenure period that you select before taking a home loan plays a major role in deciding the amount you will have to pay by the end of the plan. The shorter the tenure is, the more you have to pay on a monthly basis. The longer the tenure is, the lesser monthly amounts you will have to pay. However, when you select a longer tenure of 20-30 years, the entire payable amount also increases along with it.
  • The entire loan amount also has a huge role to play in calculating your EMI amount before you take a loan. Your monthly payable EMI amount automatically increases when the loan amount is larger, and the tenure is short. Interest rates also increase when the loan amount is on the bigger side.
  • Interest rate is one of the major determining factors of EMI rates. When the interest rates remain on the higher side, the EMI automatically increases by the end of the tenure. Bandhan Bank keeps its interest rate at 6.40% for all its customers. Before taking a home loan, go through all their plans to determine which plan is the ideal one for you.

Additional Info: SBI Home Loan Customer Care Number

What the Home Loan EMI calculator cannot Tell You?

The home loan EMI Calculator is a good tool to calculate your EMI before applying for a home loan. However, there are certain factors that cannot be pre-determined by the tool.

  • If you have the entire amount to repay the rest of your loan amount in the middle of your tenure, you will be charged around 2%-3% penalty charges for making prepayments during your tenure. The online calculator cannot determine whether or not this will happen during your tenure.
  • The calculator also fails to determine whether or not the interest rate will increase or decrease during the tenure during the process. Most popular banks like the UCO Bank, the SBI, along with other reputed banks, only offer floating rate home loans which means the interest rate may go up during your selected tenure after taking the loan. However, it may create an inconvenience for some people since the calculator cannot determine the increased interest amount beforehand.
  • Some banks allow their customers to change their interest rates in the middle of a tenure. On the other hand, some banks do not allow that. Whether you can make bigger payments as monthly instalments cannot be determined by an EMI calculator either.

Additional Info: You can also avail Canfin Home Loan

Amortization Table

YearOpening BalanceAmount paid by customer (EMI*12)Interest paid during the yearPrincipal paid during the yearClosing Balance

FAQs

✅ Can I make sure the interest rate will remain the same during the entire period of repayment?

image

If you take fixed-rate loans, the interest rate will remain the same during your tenure. However, in the case of floating rate loans, the rate may go up during the tenure. All the customers have to pay their monthly instalments accordingly.

✅ What is the current interest rate offered by the Bandhan Bank for home loans?

image

The interest rate for home loans offered by Bandhan Bank varies from 6.40% to 12%.

✅ What is the EMI for 50 lakh at Bandhan Bank?

image

Your monthly EMI depends on the tenure you select while applying for the loan. For a loan of 50 lakh, you have to pay around Rs. 36,985/- for a tenure of 20 years. For a 15 year-tenure, you will have to pay Rs. 43,281.

✅ How does Bandhan Bank Home Loan EMI Calculator calculate EMI?

image

They follow the [P x R x (1+R)^N]/[(1+R)^N-1] formula to calculate the EMI, which gives a 100% accurate result. 

✅ Can I make prepayment without any penalty charges?

image

At times, banks charge penalties of around 2%-3% for prepayments in the middle of a tenure. It cannot be pre-determined.

✅ What happens if I stop paying EMI during the tenure?

image

If you stop paying EMI, you will be charged with late fees and penalties by the bank. The penalty generally remains to be around 3%. It will keep adding up to the number of months you delay making payments.