So now that you have decided to avail a home loan and that too from State Bank of India, let’s just know more about the same. State Bank of India (SBI), being country’s largest lender is worldwide known for offering a wide of financial services. And, talking about its financial segment, it would not be wrong to say that Home Loan offered by the bank has always been in demand, best known for fulfilling the dream home wish of many.
If we talk more about this product, it comes with attractive interest rates, flexible tenures and hassle-free & transparent process, hence is the most preferred choice of many loan seekers in the country. Well, now that we are talking about the same, it is important to discuss SBI Home Loan EMI Calculator in order to give you a better understanding of the same.
Moreover, this smart and time-saving tool with its well-designed algorithms gives you the exact calculations of your monthly installments in just a few seconds. And, you know the best part? The device not only works for your EMI but it also calculates your Interest Outgo and Total Amount Payable in a hassle-free manner. This magical tool allows you to know the exact calculations of your monthly installment, hence makes your loan journey a hassle-free experience. The device after taking into consideration:
- Loan Amount
- Interest Rate
- Tenure
Fetches the values for you without keeping you waiting for so long. The functionality of this tool helps a lot in planning the future expenses so that you can easily manage your monthly installments. For a better understanding, let’s just take the help from an example below.
Suppose, Akash Sharma, a 30-year-old, Content Writer by profession is looking for a home loan of ₹30 Lakh in New Delhi. Thus, he has applied for the same and after evaluating his profile SBI agreed to offer him the loan at an interest rate of 8.30% for a tenure of 30 years. Though Akash was happy but at the same time he was confused and curious to know what would be his monthly installments? What would be the exact amount he needs to pay to the lender so as to repay his loan. Thus, to clear all his doubts, he used an EMI Calculator so as to know the exact calculations of his EMI, Interest Outgo and Total Amount Payable. And, the values came out to be: ₹ 22,644, ₹ 51,51,673 and ₹ 81,51,673. So in Akash’s case, it would be easy to repay a loan as he finds the EMI amount to be pocket-friendly.
This is the reason that why many loan-seekers prefer to use this online tool in order to know the exact amount of EMI, Interest Outgo and Total Amount Payable towards a loan. However, this thoughtfully designed tool is not only known for EMI calculations, in fact, it is loaded with plenty of other spectacular features which, makes it all the more exciting. So, let’s just know all of them one-by-one.
Time Saving: The moment you feed the values into the calculator, it fetches the results for you instantly. It solves the complex calculations within few seconds, hence allows you to save a lot of time. It is quick and fast, thus is a preferred choice of many loan seekers.
Easy to Use: It is easy to use this smart device as all you need to do is simply feed the loan amount, tenure and interest rate and you are done. There is no hassle as an individual only need to know the above values and just need to put the same into the calculator in order to get the exact results
24X7 Available: The best part about SBI Home Loan is that it is available to you all the time. Yes, being online available, a user can access the same anytime and know the exact calculation of Monthly Installments and Interest Outgo.
Accuracy: When an EMI Calculator is there, you don’t need to bother about accuracy. The device is not only fast, reliable but it is accurate as well, best known for giving the precise results in the least time frame.
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