Shubham Housing Finance EMI Calculator

The Shubham Housing Finance home loan EMI Calculator is an online tool that calculates EMI amounts towards your loan, free of cost. It will help you choose the best-suited option according to your financial needs by outlining an amortisation schedule.

You can also make instant comparisons between loan offers from multiple home loan providers on Bajaj Markets. Do so easily by entering these three variables:

• The amount of the loan

• The repayment tenure

• The rate of interest

Furthermore, you can gain deeper insights into your loan instalments with the free amortisation schedule, which you will get with each calculation.

The Shubham Housing Finance Home Loan EMI calculator is simple and user-friendly. The user must follow these quick and simple steps:

1. Visit the Shubham Housing Finance Home Loan EMI Calculator page

2. Enter the amount of the loan that you wish to get. 

3. Select the loan repayment tenure.

4. Choose the interest rate at which Shubham Housing Finance is offering the home loan.

5. View the results displayed automatically on the left panel. 

After entering these variables, the calculator processes the EMI amount that you will have to pay. It will take just a few seconds to display the EMIs and the interest payable. Moreover, you can also alter these values to compare the ideal EMI option according to your budget.

You can also calculate your home loan EMI using this manual formula:

EMI = [P × R × (1+R)^N] / [(1+R)^N – 1]

Here:

• P is the principal loan amount

• R is the rate of interest

• N is the loan tenure

Example:
If you borrow ₹20 Lakhs at an interest rate of 9.90% p.a. for 120 months, your monthly EMI will be ₹26,319. The total interest payable will amount to ₹11,58,342, making the overall repayment ₹31,58,342.

Manual EMI calculations can be time-consuming and prone to errors. Using an EMI calculator ensures quick and accurate results. However, note that late payment charges are not factored in, as they are not mandatory and apply only in case of delayed repayments.

To qualify for a home loan, you need to meet the following specific conditions set by Shubham Housing Finance:

• You have to be an Indian citizen

• Your age has to be between 21 and 65 years

• Your residential address should be within the serviceable area of Shubham Housing Finance

• When two or more people’s income is considered for loan approval, you need to add them as co-applicants in the loan application