BAJAJ FINSERV DIRECT LIMITED

Shubham Housing Finance EMI Calculator

Shubham Housing Finance EMI Calculator is an online tool that calculates EMI amounts towards your loan, free of cost.

Your Home Loan EMI
₹ 6,859
Total Interest Amount

₹ 323,107

Principal Amount

₹ 5,00,000

Total Payable Amount

₹ 8,23,107

Loan Amount i
Interest Rate
- +
Min value reached
Max value reached
Tenure
- +
Min value reached
Max value reached

You can also make instant comparisons between loan offers from multiple Home Loan providers on Bajaj Markets.

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

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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.

How to Use the Shubham Housing Finance Home Loan EMI Calculator

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.

How the Shubham Housing Finance Home Loan EMI is Calculated

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.

Benefits of Using the Shubham Housing Finance Home Loan EMI Calculator

Simple to Use

Manual EMI calculations are complex. This calculator simplifies the process by requiring only the loan amount, interest rate, and tenure to provide instant EMI and interest details.

Accessible Anytime

The tool is available online and can be used conveniently from anywhere. You can adjust variables and recalculate results multiple times without visiting a branch.

Time-Saving

Manual calculations are time-consuming and prone to errors. The calculator delivers accurate results quickly, provided you enter the correct loan details.

Facilitates Comparison

It allows you to compare interest rates from different lenders, helping you select the most cost-effective option.

Ensures Privacy

The calculator does not require personal information, ensuring safe and secure use.

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Shubham Housing Finance Home Loan EMI Amount Calculation Example at Different Tenures

There are three main factors that influence the EMI amount that you may have to pay toward a loan. Apart from the interest rate and loan amount, the repayment tenure is an important factor that determines the EMI amount for your loan. 

The following table showcases the EMI amount that you may have to pay when taking home loans at different tenures. The EMI values show results based on a 9.90% p.a. interest rate:

Loan Amount 10-year Tenure (120 Months) 15-year Tenure (180 Months) 20-year Tenure (240 Months)

₹15,00,000

₹19,740

₹16,027

₹14,376

₹20,00,000

₹26,320

₹21,370

₹19,168

₹30,00,000

₹39,479

₹32,055

₹28,752

₹40,00,000

₹52,639

₹42,740

₹38,336

₹50,00,000

₹65,799

₹53,425

₹47,920

Disclaimer: The above EMIs are calculated with the calculator available on Bajaj Markets. Actual figures may vary depending on the loan terms.

Shubham Housing Finance Home Loan Eligibility Criteria

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

Compare Shubham Housing Finance Home Loan EMI With Other Lenders on Bajaj Markets

You can assess the position of Shubham Housing Finance Home Loan EMI in comparison with other lenders listed on Bajaj Markets. Here is a table based on a standard loan amount and tenure for various partner lenders:

Lenders Starting Interest Rate (Per Annum) Loan Amount Tenure EMI Amount

Bajaj Housing Finance

7.35%

₹15 Lakhs

10 years

₹17,688

PNB Housing Finance

8.50%

₹15 Lakhs

10 years

₹18,598

L&T Finance

8.60%

₹15 Lakhs

10 years

₹18,678

LIC Housing Finance Limited

8.65%

₹15 Lakhs

10 years

₹18,718

Sammaan Capital

8.75%

₹15 Lakhs

10 years

₹18,799

Kotak Mahindra Bank

9.00%

₹15 Lakhs

10 years

₹19,001

Home First Finance Company 

9.00%

₹15 Lakhs

10 years

₹19,001

ICICI Bank

9.00%

₹15 Lakhs

10 years

₹19,001

Easy Home Finance

10.50%

₹15 Lakhs

10 years

₹20,240

Truhome Finance

11.50%

₹15 Lakhs

10 years

₹21,089

Vridhi Home Finance

12.00%

₹15 Lakhs

10 years

₹21,521

India Shelter

13.00%

₹15 Lakhs

10 years

₹22,397

Disclaimer: The above-mentioned information is subject to change as per changes in the lenders’ policies.

Frequently Asked Questions

Shubham Housing Finance EMI Calculator

How can you get a repayment schedule for the Shubham Housing Finance Home Loan EMI?

You can download the repayment schedule from the official website of the lender. On Bajaj Markets, the EMI calculator displays an amortisation schedule with clear details of your monthly instalments.

You can use either the mathematical formula or any software to calculate your EMIs. However, the Shubham Housing Finance EMI calculator is one of the best tools as it provides the results instantly. Moreover, the process is completely convenient and hassle-free.

Calculate your EMIs in advance to ensure the loan is fitting with your budget. This will help you to plan your repayments without delays or defaults. This is a long-term loan, so a strategic approach is important.

If the interest rate changes in the future, your EMI amount will change. This is particularly applicable for floating interest rates. A revision in the rate can directly impact the EMI amount or the loan tenur

A Home Loan EMI Calculator delivers accurate and reliable results. It uses a specific algorithm to calculate the EMI, interest, and total payable amount.

No, there is no processing fee for the calculation. You can try different combinations and compare the options without paying any charges.

Yes, you can calculate with any tenure you want, but make sure it does not exceed the lender’s highest tenure offer, which is 360 months.

The Shubham Housing Finance Home Loan EMI Calculator can be used for regular, top-up, and balance transfer loans. All these loan types follow the same formula and requirements for EMI calculation.

Your EMI will change with the fluctuation of the interest rate. With a floating rate, it will vary as per market dynamics.

Yes, as the rates are clear, you can get the results by entering the loan amount, interest rate, and tenure to get accurate results.

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