EMI stands for Equated Monthly Installment which is an important part of your housing loan. It includes repayment of the principal amount and payment of the interest on the outstanding amount of your home loan. A longer loan tenure (for a maximum period of 30 years) helps in reducing the EMIs.
A strong knowledge of the amount that you will need to pay towards EMIs will help you make an informed decision. Though, in order to get the best calculation towards EMIs, it is important to use a home loan EMI calculator. With our EMI calculators, you can get a reasonable understanding about the ratio of the principal amount to the interest due, based on the effect of the home loan tenure and interest rates.