Bandhan Bank Home Loan EMI Calculator
Bandhan Bank provides home loans to eligible customers for up to 90% of the purchase price. They also offer the option to modify home loans for microloan borrowers, enabling them to build homes or purchase completed apartments. The repayment of all home loans from Bandhan Bank is done through an equivalent monthly instalment or EMI.
Your monthly payment for a housing loan to the Bandhan Bank will always consist of a combination of interest and principal. You can take a look at the amortisation schedule to get a better understanding. Keep reading for a detailed guide to Bandhan bank home loan EMI calculator!
Key Features and Benefits of Using Bandhan Bank Home Loan EMI Calculator
The Bandhan Bank home loan EMI calculator can assist you in many ways, including the following:
- You can use the home loan EMI calculator offered by Bandhan bank to find out the EMI and interest payments for a house loan from Bandhan Bank instantly.
- The tool may also be used as a comparison tool to compare various amounts and terms and select the best one.
- As long as you have an internet connection, you can access the calculator on your own, whenever you want, from any location.
- You could also make monthly budget plans based on your estimated EMI payment amount.
- After receiving a loan, you can still use the online EMI calculator to check your balance and determine the remaining payments you must make until the term is through.
Key Factors that Affect Bandhan Bank’s Home Loan EMI
Numerous elements have an immediate impact on your EMI. To determine which plan is best for you, you should consider switching up these quantities.
- Tenure: The tenure duration you choose before applying for a house loan significantly impacts the total amount you will have to pay down at maturity. The monthly payment increases with the length of the lease. You will have to pay lower monthly sums as the term lengthens. However, the total payment cost also rises when you choose a longer tenure of 20 to 30 years.
- Approved Loan Amount: When determining your EMI amount before taking out a loan, the total loan amount also plays a significant impact. When the loan amount is higher, and the tenure is short, your monthly payment amount increases automatically. Interest rates likewise rise when the loan amount is on the high side.
- Rate of Interest: Interest rates largely determine EMI rates. The EMI automatically rises after the term when interest rates remain higher. Bandhan Bank’s customers continue to pay an interest rate of 6.40%. Examine their plans before applying for a house loan to see which one is best for you.
How Does the Loan Amortisation Schedule Help in Paying EMI?
An amortisation schedule is a table that showcases the bifurcation of every EMI payment in two parts – principal amount and interest amount. The amortisation schedule can aid you in knowing how much percentage of every EMI payment is going to the principal amount.
Using the amortisation schedule calculator, you may track your payments and the interest due. Additionally, it may enable you to modify your intended loan repayment strategy. An amortised loan enables you to increase the amount owed to the bank per instalment to pay off the loan more quickly. An EMI amortised schedule for house loans enables you to gradually increase your equity by paying both the principal and interest of the loan at the same time.
Home Loan EMI Comparison With SBI, ICICI, HDFC & Other Banks
Bandhan bank home loan interest rate is at 6.4%. Below is a comparison of home loan rates of different banks.
| Name of Lender | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh |
| SBI | 8.60% – 9.50% | 8.60% – 9.40% | 8.60% – 9.40% |
| HDFC | 8.65% – 10.35% | 8.65% – 10.60% | 8.65% – 10.70% |
| LIC Housing Finance | 8.65% – 10.10% | 8.65% – 10.30% | 8.65% – 10.50% |
| ICICI Bank | 8.75% – 9.85% | 8.75% – 9.85% | 8.75% – 9.85% |
| Kotak Mahindra Bank | 8.65% onwards | 8.65% onwards | 8.65% onwards |
| PNB Housing Finance | 8.75% – 14.50% | 8.75% – 13.00% | 8.85%-10.85% |
| Punjab National Bank | 8.60% – 9.35% | 8.55% – 9.25% | 8.55% – 9.25% |
| Bank of Baroda | 8.60%-10.35% | 8.60%-10.35% | 8.60%-10.60% |
| Union Bank of India | 8.60% – 10.50% | 8.60% – 10.70% | 8.60% – 10.70% |
| IDFC First Bank | 8.60% onwards | 8.60% onwards | 8.60% onwards |
Bandhan Bank Housing Loan EMI Calculator for Different Amounts
Bandhan Bank Home Loan for:
- INR 10 lakhs: A home loan EMI for 10 lakhs repayable after 20 years at an interest rate of 6.4% pa is repaid at INR 7397 per month.
- INR 20 lakhs: A home loan EMI for 20 lakhs repayable after 20 years at an interest rate of 6.4% pa is repaid at INR 14,794 per month.
- INR 30 lakhs: An EMI on home loan of 30 lakhs repayable after 20 years at an interest rate of 6.4% pa is INR 22,191 per month.
- INR 40 lakhs: A home loan worth INR 40 lakhs repayable after 20 years at an interest rate of 6.4% pa is repaid at an EMI of INR 29,588 per month.
- INR 50 lakhs: An EMI on 50 lakhs home loan repayable after 20 years at an interest rate of 6.4% pa is INR 36,985 per month.
- INR 1 crore: An EMI on home loan of 1 crore payable after 20 years at an interest rate of 6.4% pa is repaid at an EMI of INR 73,970 per month.
How can NoBroker Help?
Buying a home will undoubtedly be the most expensive investment you will ever make. You must estimate the EMI that your monthly income may support along with the existing commitments and liabilities if the home loan repayment must be carried out without interruption during the period. Therefore, you need expert advice before making such a crucial decision.
You can compare the interest rates offered by several lenders with the help of EMI Calculator to find the one that best meets your needs. We can direct you, advise you on the best mortgage package for your needs, and show you how to improve your chances of obtaining a cheap interest rate. By working with NoBroker’s home loan experts, you can benefit from their contacts and skills to find a mortgage with the lowest interest rate. You can also go through the Bandhan Bank home loan EMI calculator to understand how you can plan the home loan interest payments efficiently.
