Dhanlaxmi Bank Home Loan EMI Calculator
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Dhan Laxmi Bank Home Loan EMI Calculator Online
Dhan Laxmi Bank is one of the top private banks which offers different kinds of services in banking. It offers housing loan solutions with lots of attractive schemes. Before taking a home loan, one needs to calculate the EMIs associated with it. For this Dhan Laxmi Bank Home Loan EMI Calculator Online is a tool which helps a person find out about the EMI that needs to be paid based on home loan amount, repayment tenure, rate of interest and other factors? The Dhan Laxmi Bank Home Loan EMI Calculator Online works on some mathematical algorithms which calculates accurate EMIs that one needs to pay.
Dhan Laxmi Bank Home Loan EMI Calculator Online – Benefits
The benefits of Dhan Laxmi Bank Home Loan EMI Calculator Online are as mentioned below:-
- One can calculate the EMI for different tenures – The Dhan Laxmi bank has different home loan plans. Using the Dhan Laxmi Bank Home Loan EMI Calculator Online one can calculate the EMI for different tenures. Further, one can use this calculator for comparing different plans of the Dhan Laxmi Bank. But one must cross check with the bank their interest rates before calculating the EMIs for every month.
- One can easily compare the EMIs of Dhan Laxmi Bank with EMIs of other banks – By using the Dhan Laxmi Bank Home Loan EMI Calculator Online one can easily find out the EMIs of the bank and can compare with some other banks in India for the same tenure and loan amount at their respective interest rate.
- One can get a detailed schedule of amortisation: One can easily calculate the EMIs broken into loan amount and interest for each period of the loan for the entire loan paying term.
- Calculation of the remaining balance: Additionally, by using the Dhan Laxmi Bank Home Loan EMI Calculator Online one can easily calculate the outstanding balance for each month of the loan paying tenure. If one wants they can reduce the tenure of the home loan by considering a transfer of the home loan balance to another scheme if it is being offered at a lower rate of interest.
Estimation of the budget using Dhan Laxmi Bank Home Loan EMI Calculator Online
For calculating the home loan EMI, one needs to enter the interest rate, loan amount and loan tenure into the Dhan Laxmi Bank Home Loan EMI Calculator Online and click on calculate. This can be done for different interest rates, loan amount and the loan tenure. One can know the EMI before and can choose any tenure and loan amount accordingly. It also helps in better financial planning. The below mentioned table shows a simple calculation of the EMI using the calculator. The EMIs are calculated at 7.85%. Based on the information one can choose a loan repaying tenure for 15 years or maybe higher than that as per one budget.
Here is a table which shows EMI for different tenures, loan amount and rate of interest at 7.85%
| Amount of loan in INR | Tenure of loan (in years) | ||
|---|---|---|---|
| 30 years | 20 years | 15 years | |
| ₹ 25 Lakh | ₹ 18,083 | ₹ 20,678 | ₹ 23,675 |
| ₹ 50 Lakh | ₹ 36,167 | ₹ 41,356 | ₹ 47,351 |
| ₹ 75 Lakh | ₹ 54,250 | ₹ 62,035 | ₹ 71,026 |
| ₹ 1 Cr | ₹ 72,333 | ₹ 82,713 | ₹ 94,701 |
Factors which affect the EMI of Dhan Laxmi Bank Home Loan
If one wants to calculate Home Loan EMI, he can do so with the help of Dhan Laxmi Bank Home Loan EMI Calculator Online. This calculator calculates EMI based on factors like the loan amount, interest rate and the time span for which one is planning to avail the loan.
Loan Amount
EMI to be paid by the client will solely depend on the amount of loan applied for. In other words the higher the loan amount, the higher will be one’s EMI. Here the point to be noted is that Dhan Laxmi Bank disburses home loan starting from ₹ 15,00,000 up to a maximum amount of ₹ 2,50,00,000.
Interest Rate
The total cost of the Dhan Laxmi Bank housing loan EMI can also be increased by higher rate of interest. The current home loan interest rate of Dhan Laxmi Bank starts at 7.85%. It is mandatory to add here that one should do a complete market research and then compare rates using Dhan Laxmi Bank home loan calculator before he applies for a home loan anywhere.
Loan Tenure
Loan tenure is the period of time to be taken by the customer for repaying his home loan in Dhan Laxmi Bank. One’s EMI will be higher if one takes a 1 year’s loan from Dhan Laxmi Bank as compared to a loan taken for 5 years. For a longer duration, one gets to pay a smaller EMI and vice-versa.
Dhan Laxmi Bank Home Loan EMI Calculator Online – Formula
Dhan Laxmi Bank Home Loan EMI Calculator Online uses the following formula for calculating EMI of the loan taken.
P*r* (1+r)^n/([(1+r)^n]-1)
Below is an instance of how Dhan Laxmi Bank Home Loan EMI calculator calculates EMI:
In above given formula,
- P = Amount of Loan. Dhan Laxmi Bank disburses home loan ranging from ₹ 15,00,000 to ₹ 2,50,00,000
- r = Interest rate/month. At present Dhan Laxmi Bank housing loan’s rate of interest is 7.85%.
- n = tenure in months. Dhan Laxmi Bank disburses loans for a maximum tenure of 360 months.
Dhan Laxmi Bank EMI for home loan comparison with other banks
| Bank Name | ₹50 lakh loan amount | ₹30 lakh loan amount | ₹50 lakh loan amount | Interest Rate |
|---|---|---|---|---|
| Dhan Laxmi Bank | ₹ 36,167 | ₹ 21,700 | ₹ 7,233 | 7.85% |
| SBI | ₹ 32,264 | ₹ 19,358 | ₹ 6,453 | 6.70% |
| ICICI Bank | ₹ 32,430 | ₹ 19,458 | ₹ 6,486 | 6.75% |
| HDFC | ₹ 32,430 | ₹ 19,458 | ₹ 6,486 | 6.75% |
| Axis Bank | ₹ 32,131 | ₹ 19,279 | ₹ 6,426 | 6.66% |
| LIC Housing Finance | ₹ 32,131 | ₹ 19,279 | ₹ 6,426 | 6.66% |
Amortization Calculator using Dhan Laxmi Bank Home Loan EMI Calculator Online
Dhan Laxmi Bank Home Loan amortization schedule divides one’s monthly EMI in two parts – principal and interest repayment. Dhan Laxmi Bank gives its clients a detailed amortisation schedule along with the sanction letter and hence one can thereby calculate the total interest to be paid as well as the speed at which one’s loan amount will be repaid in the loan tenure.It can also be calculated using Dhan Laxmi Bank Home Loan EMI Calculator Online.
How should one read the amortization schedule?
For instance, if one takes a Home Loan of say, ₹ 25 Lakh for a time span of 30 years from Dhan Laxmi Bank at 7.85% interest rate, EMI for such loan amount is ₹ 18,083. The total EMIs to be paid annually is ₹ 2,17,000. The schedule of EMI for this loan for 30 years is shown in the table below –
The Amortization Schedule amount of ₹ 25 Lakh for the span of 30 years for Dhan Laxmi Bank
The below mentioned is the Amortization Schedule for Dhan Laxmi bank using Dhan Laxmi Bank Home Loan EMI Calculator Online:-
| Year | Full amount paid in that financial year ( Principal + Interest) | Principal amount repayment in that year | The interest paid in the any year | Remaining principal |
|---|---|---|---|---|
| 2021 | ₹ 90,417 | ₹ 8,760 | ₹ 81,657 | ₹ 24,91,240 |
| 2022 | ₹ 2,17,000 | ₹ 22,227 | ₹ 1,94,774 | ₹ 24,69,014 |
| 2023 | ₹ 2,17,000 | ₹ 24,035 | ₹ 1,92,965 | ₹ 24,44,978 |
| 2024 | ₹ 2,17,000 | ₹ 25,992 | ₹ 1,91,009 | ₹ 24,18,986 |
| 2025 | ₹ 2,17,000 | ₹ 28,107 | ₹ 1,88,893 | ₹ 23,90,879 |
| 2026 | ₹ 2,17,000 | ₹ 30,395 | ₹ 1,86,606 | ₹ 23,60,485 |
| 2027 | ₹ 2,17,000 | ₹ 32,868 | ₹ 1,84,132 | ₹ 23,27,617 |
| 2028 | ₹ 2,17,000 | ₹ 35,543 | ₹ 1,81,457 | ₹ 22,92,073 |
| 2029 | ₹ 2,17,000 | ₹ 38,436 | ₹ 1,78,564 | ₹ 22,53,637 |
| 2030 | ₹ 2,17,000 | ₹ 41,564 | ₹ 1,75,436 | ₹ 22,12,073 |
| 2031 | ₹ 2,17,000 | ₹ 44,947 | ₹ 1,72,053 | ₹ 21,67,126 |
| 2032 | ₹ 2,17,000 | ₹ 48,605 | ₹ 1,68,395 | ₹ 21,18,521 |
| 2033 | ₹ 2,17,000 | ₹ 52,561 | ₹ 1,64,439 | ₹ 20,65,960 |
| 2034 | ₹ 2,17,000 | ₹ 56,839 | ₹ 1,60,162 | ₹ 20,09,121 |
| 2035 | ₹ 2,17,000 | ₹ 61,465 | ₹ 1,55,536 | ₹ 19,47,656 |
| 2036 | ₹ 2,17,000 | ₹ 66,467 | ₹ 1,50,533 | ₹ 18,81,189 |
| 2037 | ₹ 2,17,000 | ₹ 71,877 | ₹ 1,45,124 | ₹ 18,09,313 |
| 2038 | ₹ 2,17,000 | ₹ 77,726 | ₹ 1,39,274 | ₹ 17,31,586 |
| 2039 | ₹ 2,17,000 | ₹ 84,052 | ₹ 1,32,948 | ₹ 16,47,534 |
| 2040 | ₹ 2,17,000 | ₹ 90,893 | ₹ 1,26,107 | ₹ 15,56,641 |
| 2041 | ₹ 2,17,000 | ₹ 98,291 | ₹ 1,18,710 | ₹ 14,58,350 |
| 2042 | ₹ 2,17,000 | ₹ 1,06,290 | ₹ 1,10,710 | ₹ 13,52,060 |
| 2043 | ₹ 2,17,000 | ₹ 1,14,941 | ₹ 1,02,060 | ₹ 12,37,119 |
| 2044 | ₹ 2,17,000 | ₹ 1,24,296 | ₹ 92,705 | ₹ 11,12,824 |
| 2045 | ₹ 2,17,000 | ₹ 1,34,412 | ₹ 82,589 | ₹ 9,78,412 |
| 2046 | ₹ 2,17,000 | ₹ 1,45,351 | ₹ 71,650 | ₹ 8,33,061 |
| 2047 | ₹ 2,17,000 | ₹ 1,57,181 | ₹ 59,820 | ₹ 6,75,881 |
| 2048 | ₹ 2,17,000 | ₹ 1,69,973 | ₹ 47,028 | ₹ 5,05,908 |
| 2049 | ₹ 2,17,000 | ₹ 1,83,807 | ₹ 33,194 | ₹ 3,22,101 |
| 2050 | ₹ 2,17,000 | ₹ 1,98,766 | ₹ 18,235 | ₹ 1,23,335 |
| 2051 | ₹ 1,26,584 | ₹ 1,23,335 | ₹ 3,248 | ₹ 0 |
Calculating the EMI for ₹ 10 Lakh using Dhan Laxmi Bank Home Loan EMI Calculator Online
The below mentioned table indicate the Dhan Laxmi Home Loan EMI for ₹ 10 lakhs for various tenures at an interest rate at 7.85% calculated using Dhan Laxmi Bank Home Loan EMI Calculator Online:-
| Amount of loan | EMI | Tenure (in Years) | Rate of interest |
|---|---|---|---|
| ₹ 10 lakhs | ₹ 20,205 | 5 Years | 7.85% |
| ₹ 10 lakhs | ₹ 12,054 | 10 Years | 7.85% |
| ₹ 10 lakhs | ₹ 9,470 | 15 Years | 7.85% |
| ₹ 10 lakhs | ₹ 8,271 | 20 Years | 7.85% |
| ₹ 10 lakhs | ₹ 7,619 | 25 Years | 7.85% |
Calculating the EMI for ₹ 20 Lakh using Dhan Laxmi Bank Home Loan EMI Calculator Online
The below mentioned table indicate the Dhan Laxmi Home Loan EMI for ₹ 20 lakhs for various tenures at an interest rate at 7.85% calculated using Dhan Laxmi Bank Home Loan EMI Calculator Online:-
| Amount of loan | EMI | Tenure (in Years) | Rate of interest |
|---|---|---|---|
| ₹ 20 lakhs | ₹ 40,409 | 5 Years | 7.85% |
| ₹ 20 lakhs | ₹ 24,107 | 10 Years | 7.85% |
| ₹ 20 lakhs | ₹ 18,940 | 15 Years | 7.85% |
| ₹ 20 lakhs | ₹ 16,543 | 20 Years | 7.85% |
| ₹ 20 lakhs | ₹ 15,238 | 25 Years | 7.85% |
Calculating the EMI for ₹ 30 Lakh using Dhan Laxmi Bank Home Loan EMI Calculator Online
The below mentioned table indicate the Dhan Laxmi Home Loan EMI for ₹ 30 lakhs for various tenures at an interest rate at 7.85% calculated using Dhan Laxmi Bank Home Loan EMI Calculator Online:-
| Amount of loan | EMI | Tenure (in Years) | Rate of interest |
|---|---|---|---|
| ₹ 30 lakhs | ₹ 60,614 | 5 Years | 7.85% |
| ₹ 30 lakhs | ₹ 36,161 | 10 Years | 7.85% |
| ₹ 30 lakhs | ₹ 28,410 | 15 Years | 7.85% |
| ₹ 30 lakhs | ₹ 24,814 | 20 Years | 7.85% |
| ₹ 30 lakhs | ₹ 22,857 | 25 Years | 7.85% |
Calculating the EMI for ₹ 50 Lakh using Dhan Laxmi Bank Home Loan EMI Calculator Online
The below mentioned table indicate the Dhan Laxmi Home Loan EMI for ₹ 50 lakhs for various tenures at an interest rate at 7.85% calculated using Dhan Laxmi Bank Home Loan EMI Calculator Online:-
| Amount of loan | EMI | Tenure (in Years) | Rate of interest |
|---|---|---|---|
| ₹ 50 lakhs | ₹ 1,01,023 | 5 Years | 7.85% |
| ₹ 50 lakhs | ₹ 60,268 | 10 Years | 7.85% |
| ₹ 50 lakhs | ₹ 47,351 | 15 Years | 7.85% |
| ₹ 50 lakhs | ₹ 41,356 | 20 Years | 7.85% |
| ₹ 50 lakhs | ₹ 38,095 | 25 Years | 7.85% |
Using Dhan Laxmi Bank Home Loan EMI Calculator Online
The Dhan Laxmi Bank Home Loan EMI Calculator Online is a tool that will help one in knowing the EMIs which one needs to pay instantly which is quite accurate. The best part of using the online calculator tool is that one can compare the results with other banks. This will help one in choosing not only the right amount but also choosing a tenure which is suitable for a person. This, in turn, will help in better financial planning and aid in correct selection. So, it is quite beneficial to use the calculator. Further, one can easily know what percentage of the loan is one paying off per EMI.
FAQs
Is the rate of interest offered by Dhan Laxmi bank floating or fixed? Can Dhan Laxmi Bank Home Loan EMI Calculator Online calculate floating interest rate?
The rate of interest offered by Dhan Laxmi bank is floating. Yes, Dhan Laxmi Bank Home Loan EMI Calculator Online calculates floating interest rate.
What is the full form of EMI?
Equated monthly installments is the full form of EMI.
Does the EMI calculator include other fees as well?
Dhan Laxmi Bank Home Loan EMI Calculator Online only calculates the EMI based on interest rate and principal amount but it doesn’t include processing fees and other charges.
At what interest rate does the Dhan Laxmi Bank Home Loan EMI Calculator Online calculate the EMI?
The interest rates are variable. The rate of interest lies in between 9.90% and 10.15% one needs to fill the rate of interest in Dhan Laxmi Bank Home Loan EMI Calculator Online.
Is age a calculation factor for Dhan Laxmi Bank Home Loan EMI Calculator Online?
No, age is not a calculation factor for Dhan Laxmi Bank Home Loan EMI Calculator Online.