Home Loan Calculation Method [EXPLAINED] | EMI & Prepayments | Home Loan Kaise Le
In this video by FinCalC TV we will see Home Loan Calculation Method in hindi. We will see loan EMI calculation, loan prepayments to save interest amount, income tax benefits, interest rate increase and many more things about home loan

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CHAPTERS:
00:00 Home Loan Calculation Method Intro
01:42 Components of Home Loan EMI?
02:21 Fixed vs Variable Interest Rates
03:25 Home Loan EMI Calculator
06:02 High Interest Rate Impact
06:33 Loan Tenure Change Impact
08:22 What is Home Loan Prepayment?
09:10 Home Loan Prepayment using Excel
11:29 Interest Savings using Prepayments
14:30 Home Loan Calculation Method Conclusion

Home Loan Prepayment Reduce EMI or Tenure:
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WHAT IS HOME LOAN EMI CALCULATOR
Home Loan EMI Calculator helps you to calculate home loan EMI (Equated Monthly Installment). This calculation helps you in planning for loan to buy or construct new house so that you get the idea of monthly loan EMI you will be paying.

Loan EMI Calculator also helps you to know the Total Interest you will be paying throughout your loan tenure. The Total Amount you pay to close your loan is Loan Amount + Total Interest

HOME LOAN EMI CALCULATION METHOD
- Home loan EMI can be easily calculated in excel using PMT function
- PMT function takes 3 parameters: Interest Rate, Remaining months and Principal value remaining
- Interest rate provided should be the monthly home loan interest rate divided by 100
- Remaining months is the number of months remaining for which EMIs are yet to be paid
- Principal value is the outstanding principal amount remaining in your loan account
- Remember, your EMI consists of 2 things: Principal Amount and Interest Amount
- Interest Amount is high initially, and decreases with time
- Principal Amount is low initially, and increases with time

COMPONENTS OF LOAN EMI
- Basically there are 2 components of loan EMI – Principal Amount and Interest Amount
- Principal amount is low initially and increases with time
- Interest amount is high initially and decreases with time
- Majority of Interest amount is paid by you during the first half of your loan tenure
- As you move towards your loan closure by paying all EMIs on time, very less interest if left to be made making it difficult to save loan interest using loan prepayment option
- Thus, it is recommended that if you are making loan prepayments to save interest, make the payments during initial half of the loan so that you can save maximum interest on your loan
- Car Loan EMI is also calculated in same way as above

FACTORS AFFECTING LOAN EMI
- 2 factors affect Loan EMI – Interest Rate and Tenure
- Higher the interest rate, more interest amount you will be paying
- Longer the tenure, more interest amount you will be paying
- You should try to take loan with minimum interest rate and tenure to save maximum interest amount

HOW TO SAVE LOAN INTEREST
- As mentioned above, loan interest can be saved by either choosing loans with low interest rate, choosing less tenure or by making loan prepayments on existing loans
- Remember to reduce tenure while making loan prepayments to save maximum interest on your home loan
- Reducing EMI will not save your loan interest to maximum extent compared to reducing tenure

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