Calculate Your EMI Instantly
Bank of Maharashtra Home Loan EMI Calculator
Principal Amount
₹10,00,000
Total Interest
₹0
Total Amount
₹0
The Bank of Maharashtra Home Loan EMI Calculator is an easy-to-use tool that helps you estimate your Equated Monthly Installment (EMI) before applying for a home loan. With this calculator, you can determine your repayment schedule based on the loan amount, interest rate, and tenure.
Features & Benefits of Bank of Maharashtra Home Loan EMI Calculator
- Instant Calculation: Get accurate EMI calculations within seconds.
- Free & Easy to Use: No registration or charges are required.
- Financial Planning Tool: Helps you plan monthly expenses and manage finances efficiently.
- Customizable Inputs: Adjust loan amount, tenure, and interest rate to find the best repayment plan.
- Error-Free Results: Eliminates manual calculation mistakes.
How to Use the Bank of Maharashtra Home Loan EMI Calculator?
Follow these simple steps:
- Enter Loan Amount – Input the principal amount you wish to borrow.
- Set Loan Tenure – Choose the repayment period (in months or years).
- Provide Interest Rate – Enter the applicable interest rate offered by Bank of Maharashtra.
- View EMI Details – Instantly get your monthly EMI amount along with a detailed repayment schedule.
How Does the Calculator Work?
The calculator uses the standard EMI formula:
Where:
- P = Loan Principal Amount
- R = Monthly Interest Rate (Annual Rate / 12 / 100)
- N = Loan Tenure in Months
Example Calculation:
Suppose you take a home loan of Rs. 50 lakhs at an interest rate of 7.1% per annum for a tenure of 17 years.
- EMI Amount: Rs. 42,271 per month
- Total Interest Payable: Rs. 37,34,428
- Total Repayment Amount: Rs. 87,34,428
Home Loan Amortization Schedule
| Year | Interest Paid | Principal Paid | Total EMI | Outstanding Loan |
|---|---|---|---|---|
| 1 | 1,76,365 | 77,264 | 2,53,629 | 49,22,736 |
| 5 | 3,05,717 | 2,01,542 | 5,07,259 | 41,95,511 |
| 10 | 2,20,122 | 2,87,135 | 5,07,257 | 29,43,116 |
| 15 | 98,181 | 4,09,078 | 5,07,259 | 11,58,840 |
| 17 | 5,172 | 2,48,458 | 2,53,630 | 0 |
Why Use Our Bank of Maharashtra Home Loan EMI Calculator?
- Eliminates manual calculations and saves time.
- Helps in financial planning by providing accurate estimates.
- Allows easy comparison of different loan amounts, interest rates, and tenures.
- No need to visit the bank to check EMI details.
Frequently Asked Questions (FAQs)
1. What details do I need to enter in the EMI calculator?
You need to enter the loan amount, interest rate, and tenure to get an EMI estimate.
2. Is this calculator free to use?
Yes, our Bank of Maharashtra Home Loan EMI Calculator is completely free to use.
3. What is the maximum tenure for a Bank of Maharashtra home loan?
The maximum loan tenure can go up to 30 years, depending on the loan type and applicant’s profile.
4. Can I use this calculator for other banks’ home loans?
Yes, you can use it for any home loan by entering the relevant interest rate and tenure.
5. How accurate is the EMI calculation?
The EMI calculation is based on a standard formula and provides accurate results. However, the actual EMI may vary slightly due to processing fees and other factors.