**Loan Eligibility Home EMI Calculator, Loan Calculator for Commercial Property, Car, Bike, land, LIC Policy, Personal loan, Royal Enfield:** You must have heard of the term loan calculator. Do you know what it is? You often come in contact with those who talk about loan and loan interest rates. Do you know how to calculate loan interest? Most of us use these terms in daily life, but don’t have much knowledge about these terms.

These are the general things that everyone should know. The loan is a very risky process that is why you should be aware of all of the terms related to it. You must have heard the famous saying which says little knowledge is too dangerous. Taking a loan without full information can lead to.

Many times we see that someone took too much loan at high-interest rates, but did not return it, due to which bank sold his/her property. If you do not know the above terms, don’t worry, we are here to explain these terms. Let’s discuss all the important terms related to loans. We are going to discuss EMI, loan eligibility calculator, and different types of loans.

### Loan Calculator Home

If you are planning to take a home loan, you must be worried about the loan interest rate, loan tenure, and most importantly loan amount. If you are stressed about the loan returning policy, do not worry, you can easily calculate the loan interest rate based on loan amount and loan tenure.

Also, the Home loan calculator (loan calculator home) home is a method that helps to determine the interest rates and monthly EMI of your home loan, based on loan tenure and loan amount. If you are stressed about future EMI, you can check it through a home loan calculator. You can take help for this, from various loan calculators available on Google. Do not worry, I’m also going to teach you how to calculate loan EMI through formulas.

### Loan Calculator EMI

To check the monthly EMI of a loan, we need to follow simple steps. Calculating monthly EMI is much easier than you think.

It is a kind of calculator. Which we use to find out the monthly EMI. This calculator asks you about the total amount, interest rates, and tenure of the loan. After that, it calculates and gives information about monthly EMI. In this, you have to give this information in the form of a formula. For which we use different symbols.

Such as principal amount (P), time duration (N), and rate of interest (R). For example, if you take a loan of Rs 300000 (P) for 5 years (N) at a 9.55% p.a. interest rate (R). So your monthly EMI will come to Rs ₹ 6308.

In the above situation, you asked to pay:

₹ 78,473 = Total interest payable over the loan term

₹ 378,473 = Total payments made over the loan term

Also, This is the formula to check loan EMI.

EMI = P × r × (1 + r)n/((1 + r)n – 1)

where P= Loan amount, r= interest rate, n=tenure in several months.

As we made it very easier to calculate monthly EMI by giving very straightforward examples. We hope that now You won’t find it too difficult. “Loan Eligibility Home EMI Calculator, Loan Calculator for Commercial Property, Car, Bike, land, LIC Policy, Personal loan, Royal Enfield”

### Loan Eligibility Calculator

It is a well-known fact that to take a loan, you must pass through the eligibility criteria of a Bank or NBFC company. Do you know how they define eligibility criteria? Let me tell you the secret behind it.

Also, A home loan eligibility calculator is a method by which we can determine loan eligibility for home loans. It depends on various factors such as your monthly income, current age, fixed monthly financial obligations, credit history, retirement age, credit score, etc.

### What is Home Loan Eligibility?

In simple words, a loan eligibility calculator is a method by which we determine the set of criteria. After checking all the above factors the bank decides the loan amount, interest rates, and loan tenure for an applicant. “Loan Eligibility Home EMI Calculator, Loan Calculator for Commercial Property, Car, Bike, land, LIC Policy, Personal loan, Royal Enfield”

### How is Home Loan Eligibility Calculated?

Loan eligibility depends on the income of applicants and repayment capacity of applicants, it also depends on various factors such as age, financial position, retirement age, credit history, credit score, other financial obligations, etc. Which affects the loan.

Age is the most important factor in loans. You should be between 21 to 60 years, if you are from this group of age, you will have more chances than those who don’t fall into this group.

Loan tenure also plays a significant role in this, loan tenure ranges from 2 months to 30 years. In most of the loans, it is five years.

You should be employed, your income should be more than 10000₹, banks or NBFC don’t give loans to those who are unemployed. If you are not salaried, you should be self-employed, earning more than 2 lakh per annum. “Loan Eligibility Home EMI Calculator”

You should have a clear record of your Bank and other loans, banks don’t give loans to fraudsters. Your CIBIL score should be more than 750.

#### Example:

If an individual is 30 years of age he takes a loan of Rs. 250000 ₹ at an interest rate of 6.70% for a tenure of 5 years given he has no other existing financial obligations such as a home loan, education loan, personal loan, or car loan, etc.Your Monthly Home Loan EMI: Rs 4,915,

**Loan Amount** 2,50,000Rs

**Total Interest Due to** 44,899 Rs

**Total Amount Payable** 2,94,899Rs

### Loan Calculator for Commercial Property

Commercial property loan calculators are the same as others. All the loan calculations are made by a simple formula as we discussed and they include three steps in it.

Also, You can Calculate your Commercial Property Loan EMI and Interest payable in just 3 steps.

The first step of the loan amount, for example, you took a loan of Loan Amount: 1500000

After that, at a Loan Rate of Interest of 11.5% per annum for a Loan Tenure of 5 years. You paid Loan EMI Per Month of 32988 ₹ and you will have to pay Total interest Payable, 479334. In the end

Total of Payments (Principal + Interest) = 1979334.

**Also Read: What is a Mortgage Loan? How to Get it From Bank?**

### Loan Calculator for Bike

Many times you must have made up your mind to take a bike. But then due to lack of money, he would have to back down. Have you ever thought about that bike loan Kaise le? Today we are present with the answer to this question. “Loan Eligibility Home EMI Calculator, Loan Calculator for Commercial Property, Car, Bike, land, LIC Policy, Personal loan, Royal Enfield”

Friends, taking a loan for a bike is a very easy and simple way. Most of the banks give you a loan from 80% to 85% of the total cost of the bike. Some banks also provide you with a loan of up to 90%. To get a bike loan, you have to go through a simple process.

For this, you do not have to go to the bank like any other loan. From which agency do you want to buy the bike. There is an agent of the bank in the same agency. Which provides you with all the facilities of the bank.

Also, You can calculate your interest rate monthly EMI through a calculator as we discussed above.

Many times people ask for a loan calculator for cars, loan calculator for bikes, loan calculator for a personal loan, loan calculator for Royal Enfield, loan calculator for land, loan calculator for LIC policy, all of these loans can be calculated by a simple method, as we told you above. All these loans are the same and can be calculated by the same methods.

Various tools are available on the internet where you can easily calculate every type of loan. But, You Just need to put the loan amount, loan tenure, and interest rates. The tool will show you the monthly EMI, total interest rates, and total payable amount.

### Conclusions

Friends, today we have presented very important information (Loan Eligibility Home EMI Calculator) in front of you guys. When you know how to do something, it becomes easier for you to do that work.

This article was written after researching every aspect related to the calculation of loans. Also, Visit our website to know about other similar loans and important information related to loans.

Today we have discussed loan calculator home, loan calculator EMI, loan eligibility calculator, loan calculator for commercial property, loan calculator for car, loan calculator for bike, loan calculator for a personal loan, loan calculator for royal Enfield, loan calculator for land, loan calculator for LIC policy.

In conclusion, We hope that you understand the topic and its related aspects. you still need any information or have any suggestions for us, then you can tell it in the comment box.