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Calculate Piramal Housing Finance 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
  • 10.5%
  • ₹0
  • 30
Updated:

About Piramal Capital & Housing Finance Home Loan

Piramal Capital & Housing Finance (PCHF) was found in 2010 as a Non-Banking Financial Company (NBFC), offering structured loans to the Indian real estate sector. The company is registered with the National Housing Bank (NHB) and offers flexible loan options to both wholesale and retail customers. Throughout its stint, the company has been acknowledged for its umpteen financial services and therefore been awarded with numerous awards and recognitions.

Offering structured debt to the real estate sector is the core business of Piramal Capital & Housing Finance. With a whopping figure of  47,000 Crores as total investments, loans, and assets under management, the company enjoys a Return on Equity of over 19%. Its strong in-houses processes and controls help the company brings down the Non-Performing Asset percentage to 0.3%. Piramal Capital & Housing Finance offers Home Loans under various schemes. The lowest rate of interest offered is 10.50% p.a.

Additional Info: Apply SBI MaxGain Home Loan @6.70%

Home Loan Schemes Available at Piramal Capital & Housing Finance

Piramal Capital & Housing Finance issues Home Loans under different schemes. Each scheme is floated to cater to distinct needs and is therefore marked with unique features. 

The prospective borrowers can assess individual schemes and apply for the most appropriate Home Loan scheme depending upon personal need and requirements:

Product NameInterest RateTenureApplicant ProfilePurpose
Home Loan - New Purchase10.50% onwardsUp to 30 yearsSalaried, self-employed professional, and self-employed non-professionalDirect purchase of property from developer or purchase of resale property
Super Loans10.50% onwardsUp to 30 yearsSalaried including NRI
  • For 20% higher eligibility
  • 15% reduced EMI
  • Home Loan top-up without additional EMI
Home Loan - Self Construction10.50% onwardsUp to 30 years (allowed construction period is 24 months)Salaried, self-employed professional, and self-employed non-professionalConstruction of independent house, bungalow or row house
Pradhan Mantri Awas Yojana10.50% onwardsUp to 20 yearsIndividuals of EWS, LIG, and MIGPurchase or self-construction
Bridge Loan10.50% onwardsUp to 5 yearsSalaried, self-employed professional, and self-employed non-professionalTo fund the shortfall between the sale price of existing property and cost of the new purchase

Additional Info: Also check Pradhan Mantri Awas Yojana

What is EMI?

EMI is an abbreviation for Equated Monthly Instalment. It is the monthly payout that is incurred by the borrower in order to repay a Home Loan. The EMI is paid every month on a pre-specified date for the entire term of the Home Loan. EMI is a combination of two components - principal portion and an interest portion. While the principal portion of the EMI is adjusted against the outstanding principal part, the interest part settles the interest portion.

Additional Info: Best Home Loan Interest Rates @6.70%

Piramal Capital & Housing Finance Home Loan EMI Table

The borrower is legally bound to pay back the availed amount of Home Loan along with the interest charges within the stipulated time period. The total amount is divided by the loan term to get the equal monthly amount called the Home Loan EMI. The EMI is calculated using three parameters - principal amount, loan tenure, and rate of interest. The EMI schedule, also known as the repayment schedule, shows the repayment installments of the availed Home Loan.

The below table depicts the EMI schedule of Piramal Housing Finance Home Loan. The table shows the respective EMI amounts against different Home Loan quantum for different loan tenures. The rate of interest used for the preparation of the EMI schedule is 10.50% p.a.

Loan AmountLoan Tenure
20 years25 years30 years
 25,00,000Rs. 24,959Rs. 23,605Rs. 22,868
 50,00,000Rs. 45,737Rs. 47,209Rs. 45,737
 1,00,00,000Rs. 99,838Rs. 94,418Rs. 91,474

As shown in the above table, the tenure is a very important factor for Home Loan EMIs. As the duration of the loan increases, the EMI drops significantly for the same principal amount.

However, opting for a Home Loan with the longest tenure can turn out to be really expensive. So, before going in for the lowest EMI or the maximum Home Loan term it is important to consider the EMI break-up schedule. The break-up of the EMI value shows the cost of the loan.

Below is the EMI break-up table of Piramal Capital & Housing Finance. The table shows EMI break-up for a Home Loan amount of 1 Lakh availed at the rate of interest of 10.50% p.a.

Tenure20 years25 years30 years
EMI per lakh998944915
Total amount repayable to bank (P+I)2,39,6112,83,2553,29,306
Total interest paid over the loan tenure1,39,6111,83,2552,29,306
Principal to Interest Break-Up46.3 : 53.739.7 : 60.334.5 : 65.5

The above table shows the break-up of Home Loan into principal and interest of 1 lakh Home Loan. While the increase in loan duration brings down the EMI, the interest portion on the principal amount increases manifold. This makes the Home Loan very expensive. But going in a shorter duration loan will lead to an increased EMI which may put a financial burden on the borrower. Thus, it is very important to balance between Home Loan term, and EMI amount.

For example, the EMI per lakh for a 20 year Home Loan is 900. The figure comes down to 805 when the term of the loan increases to 30 years. But a Home Loan availed at 9% p.a. the amount of interest paid over 20 years is 1,15,934 as against 1,89,664 for Home Loan with 30 year maturity. As the interest part is only an expense, the higher the interest component, more expensive will be the Home Loan.

Additional Info: Also check HDFC Home Loan EMI Calculator

What is EMI Calculator?

EMI Calculator helps the borrower ascertain the EMI amount payable for a stated principal amount, loan tenure, and rate of interest.

The mathematical formula used to calculate a Home Loan EMI is:

 [P x R x (1+R)^N] / [(1+R)^N-1]

Where;

P = Principal loan amount

R = Rate of interest

N = Loan tenure in months

For Piramal Capital & Housing Finance Home Loan the values for each are

P = 90% of the cost of property

R = starting from 9%

N = 30 years subject to age of retirement

Additional Info: Also Check LRD Loan

Benefits of Using MyMoneyMantra EMI Calculator

MyMoneyMantra is an online lending marketplace, which offers a wide array of financial products and services. One of the largest online financial portals, MyMoneyMantra, offers comprehensive information which allows its users to compare and pick the best deal in an easy and hassle-free manner. The Home Loan EMI Calculator available on MyMoneyMantra is a powerful financial tool that allows its users to get a clear picture of monthly outflow that will be incurred against the requested principal amount.

The many benefits that can be enjoyed by using the online PCHF Home Loan EMI Calculator on MyMoneyMantra are:

Anytime Access: As the EMI Calculator on MyMoneyMantra is available online, it can be used anytime from anywhere. One simply needs a Smartphone or a desktop with an internet connection.

Quick and Easy: The MyMoneyMantra website has a user-friendly interface. Thus the website is extremely easy and simple to navigate and operate. The EMI Calculator on MyMoneyMantra is also easy to use. The user is simply required to enter the basic parameters to generate the result.

Save Time: The anytime access feature, along with easy use, helps the user save time. There is no need to visit bank branches or schedule meetings with a sales representative to get information about various Home Loan schemes. The information is available online in an easy-to-use manner.

Dependable Results: The online EMI Calculator generates results through a mathematical formula. There is no need to enter into complex calculations. Therefore, the results are 100% accurate and reliable, with no incidence of human error.

Widespread Use: The Home Loan EMI Calculator can be used to generate the payable EMI amount for any kind of loan.

Financial Support: The online EMI Calculator acts as a financial assistant who provides crucial and meaningful information and inputs without any biased approach. It provides professional help to assess and evaluate financial standing and carefully plan inflows and outflows.

Additional Info: Also check ICICI Home Loan EMI Calculator

Factors Affecting Home Loan EMI

The Home Loan EMI is dependent on numerous factors. A change in any factor directly or indirectly influences three main parameters - principal amount, loan tenure, rate of interest that lead to a change in the EMI payout. These factors are:

Amount Borrowed: The amount of loan taken for the purchase or construction of the house will determine the EMI. There is a direct and positive correlation between the amount borrowed and the EMI amount.  As the Home Loan principal amount increases, the EMI value increases.

Rate of Interest: Interest levied on the principle Home Loan amount is a significant constituent of the EMI. Thus the EMI is linked to the rate of interest on Home Loan . Any increase in the rate of interest will lead to a higher EMI.

Duration of the Loan: The EMI will be high if the duration of the loan is small and vice-versa. If the borrower has a steady source of income, long duration and small EMI would be helpful.

Applicant's Profession: The rate of interest levied on the Home Loan principle, to a certain extent, depends on the occupation of the applicant. The EMI amount may thus be different for a government servant and a businessman.

Purpose of Home Loan: Home Loans are offered for varied purposes, including the purchase of new property, purchase of land and subsequent construction of a house or even renovation and repair of a house. The rate of interest, and in turn, the EMI depends on the purpose for which the borrower has availed the Home Loan.

Creditworthiness: Applicants with a good CIBIL rating or applicants having an existing association with the lender tend to enjoy a preferential rate of interest on Home Loans and thus pay relatively lower EMIs.

You can also Apply for 20 Lakh Home Loan

Tips to Decide the Right Amount of EMI

The EMI amount has to be paid throughout the tenure of the loan. It is the fixed outflow of funds paid towards loan repayment. An EMI which does not unduly strain the financial position of the borrower is ideal. An EMI that is easily paid month on month will undoubtedly increase the pleasure of owning the home. Here are a few tips to determine the ideal EMI.

Minimise Loan Amount: Interest is levied on the principal Home Loan amount. Larger the borrowings more will be the interest and the EMI. The borrower should, therefore, make as much down payment as possible so as to minimise the EMI payout.

Get the Math Right: The borrower should critically examine the household budget before availing the Home Loan. The Home Loan EMI payout is a long term financial obligation and should be set in a manner that it does not affect the smooth day to day functioning of the household.

Duration of the Loan: The Home Loan tenure is one of the key determinants of the EMI amount. Home Loans of longer duration entail a larger interest payout but help in keeping the EMI amount low. On the contrary, Home Loans with smaller tenure decrease interest payout but entail a bigger EMI.

Assess FOIR: The Fixed Obligations to Income Ratio (FOIR) is a good indicator of the EMI that the borrower will able to bear. The borrower should ensure that the EMI payout of all liabilities put together is half the income.

Additional Info: Also check SBI Home Loan EMI Calculator

Change in EMI with a Change in Interest Rate

The EMI on Home Loan ordinarily remains the same. The borrower may request for a change in EMI in case of an emergent situation. The lending institution will then adjust the EMI amount. It is pertinent to note that such requests entail levying of additional charges which have to be borne by the borrower.

The duration of Home Loan that has a floating rate of interest increases or decreases depending on interest rate fluctuations. The changes in the total Home Loan payout because of the change in the rate of interest are first adjusted against the change in loan tenure. In case an increase in loan tenure is not possible, the adjustment is made by increasing the EMI. In any case, the loan must be repaid before the borrower attains the maximum permissible age.

Additional Info: Also check Banglarbhumi West Bengal Land Record

Change in EMI on Prepayment

Most financial institutions allow prepayment of Home Loans. The feature is available on Home Loans with fixed interest rates as well as under floating interest rate scheme.

Any prepayment by the borrower is adjusted towards the outstanding principal. The reduction in principle outstanding necessitates either a reduction in the EMI payout or the duration of the loan.

Additional Info: Also check AnyRoR Gujarat Land Record

Amortization Table

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

Piramal Housing Finance EMI Calculator FAQs

✅ Is there any relaxation in the Home Loan repayment schedule?

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Many lenders offer a holiday period wherein the borrower is exempted from paying the EMI. This feature is part of the agreement between the financial institution and the borrower. This arrangement works best for under-construction properties and in cases where the possession of the property is stipulated for a later date.

✅ What is the maximum repayment period on Home Loans?

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PCHF offers tenures for as long as 30 years. It is in the best interest of the lender as well as the borrower that the repayment of the Home Loan should be done during the working years of the latter.

✅ How is the Home Loan interest rate ascertained?

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Borrowers can opt for a floating rate of interest or a fixed rate of interest. The base lending rate of Home Loans is linked to the REPO rate. Thus the rate of interest on Home Loans will increase with an increase in the REPO rate and vice versa.

✅ What is the maximum repayment tenure for Bridge Loan?

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Bridge Loan comes with maximum repayment tenure of up to 24 months for ready property and 60 months for under-construction property.