Home Loan Prepayment Reduce EMI or Tenure? Calculation Method EXPLAINED
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- Опубліковано 6 сер 2024
- Home Loan Prepayment Reduce EMI or Tenure? Calculation Method EXPLAINED
This video will prove that you should reduce tenure and keep EMI same when making prepayments of your home loan or any other loan in any of the banks such as SBI, ICICI, HDFC, etc with the help of home loan prepayment calculator excel in hindi. The home loan calculation method is very easy to understand with the help of excel examples.
When you reduce tenure, you pay EMI for less number of months due to which you can save lot of interest amount in your home loan. Reducing EMI will keep the tenure same and will not save much of the loan interest taken from you.
Home loan prepayment also known as loan repayment is the way to reduce your outstanding principal amount in case you accumulate some considerable amount of money and want to close your loan as soon as possible to become debt free.
DOWNLOAD Home Loan EMI Excel Calculator:
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CHAPTERS:
00:00 Home Loan Calculation Method Intro
00:46 What is Home Loan Prepayment?
01:47 Home Loan Prepayment Excel & Examples
02:33 Download Loan Prepayment Excel Calculator
04:15 Example 1 - Reduce EMI or Tenure?
05:16 How to Calculate Loan EMI?
08:10 Example 1 - Reduce Tenure
10:40 Example 1 - Reduce EMI
13:26 Example 2 - Reduce EMI or Tenure?
14:01 Example 2 - Reduce Tenure
15:23 Example 2 - Reduce EMI
17:20 More excel calculator videos
18:12 Loan Prepayment Reduce EMI or Tenure Conclusion
18:56 Income Tax Calculator App
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What is Home Loan EMI Calculator?
Home Loan EMI Calculator assists in calculation of the loan installment i.e. EMI towards your home loan. It an easy to use calculator and acts as a financial planning tool for a home buyer.
What is Home Loan EMI?
EMI stands for Equated Monthly Installment. 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 EMI.
How does EMI calculation help in planning the home purchase?
Home Loan EMI calculator gives a clear understanding of the amount that needs to be paid towards the EMIs and helps make an informed decision about the outflow towards the housing loan every month.
Factors that Affect Housing Loan EMI
Principal- The principal is the loan amount that you avail from the lender. It is directly proportional to your EMIs - lower principal will lower your monthly instalments and vice versa.
Rate of interest- The rate of interest is the rate at which the lender offers you the loan. It is also directly proportional to the value of your loan EMIs.
Tenure- The tenure is the time within which you repay your loan. The tenure is inversely proportional to your loan EMIs - longer tenure makes the monthly instalments cheaper and vice versa.
#LoanPrepayment #HomeLoan #CalculationMethod #ReduceTenure #ReduceEMI #EMICalculator #FinCalCTV
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DISCLAIMER:
Examples and demo used are for Illustration purpose only and might not cover every detail of examples shown. It is advised to seek professional help before taking any financial decisions. The owner of this channel shall not be liable in any way.
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Wonderful and very useful Video... Thanks
Beautiful explanation, after watching one video, I just hit like and subscribe
Thank you sir for this video. Today visited many icici branch banks for this info. But finally got proper info.
Welcome 🤗
Sir its Very helpful n i like the idea but i don't see a option for selecting emi or tenure in yono app. Does this process require visiting the branch. Please reply.
Thank you sir. This is very helpful.
Glad it was helpful!
very well explained sir...thank you
You are most welcome
Very nice thank you for excel file
You are welcome
Bhai super Tarik batata hai ❤❤❤
Thanks bhai
What's same scenario for personal loan amount for 25 lakh , which is the best option to choose EMI or tenure
Thanks a lot sir.... You share very informative points.
Glad it was helpful. Welcome 🙂
I couldn't find the excel sheet for the loan prepayment. Where is it hidden?
Existing loans Ka tenure Kaisa Kam Karna padega,bank WaLa manega kya
Without going to bank can I repayment extra emi loan amount through online.
Thank u for your information
Welcome
@@fincalcwhich is the best term and family floater health insurance ?
Sir ,
Q1.agar ROI 10.4 se 8.8 ho jaye to tenure kam karte hai to kitne mahine ka farak aayega. ?(15Lfor 15yrs ,emi 15581)
Q2. Agar ROl 9.4 se 10.4 ho jay means 1%badh jay to tenure and intrest kitne mahine badh jayega?
Kyoki ki Q2 ke hisab se NBFC ne mera EMI same rakha hai. lekin Tenure badh Diya hai 2 sal se.
Ye kaise hua?
Kindly reply..
Sir agar mere 8 lakh or muje apne home loan against pre payment kerna hai tho muje janana hai ki mai ek saat 8 lakh ka pre payment karu ya divde kerkai karu jaise 4 lakh abhi or 4 lakh after 3or 4 months... Please advise kijiye.. Thank you. 🙏
sir agar 40l ka loan 4 saal mai khatam kar saktha hu tho mai emi kum karna mai mera faidha hai na sir ..
Apki jesi achhi video koi nhi banata
Thank you 👍
After prepayment tenure will be reduced..so in this case interest rate will be same right as it was on original principle
I have this same query did you try ?
I need home loan of 12-15 lackh approx for construction of house but my salary is 19k in hand for now, so that much amount is not possible for me. My father is 58 years old and he is private driver so no salary slip, so how can we take home loan? Is there any option like loan will be sanction on my father's documents but I will clear all the EMI's from my salary?? Please help
1) How do we take into account subsidy received from pradhan mantri aqas yojna, bank has not reduced the loan amount but adjusted the pmay amount with interest
2) For u der construction property, loan amount is taken as and when they builder demands , so total loan is not disbursed in one go, it is given in parts. How to incorporate this in excel calculator. Emi keeps increasas and when loan is disbursed
3) Rate of interest keeps changing with repo rate
Is there any limit for part payment in terms of amount or Time limit ??
Depends on bank and type of loan
Calculator nahi chal rha hai bhai... formulas missing hai. Please check kar lo ek baar
I have home loan from sbi. Thinking to prepay some amount. Do they give option to reduce emi?
Yes
Sir , maine 14 lakhs home loan 6.95% me 17 yrs ke liya hai, abhi EMI 11690/- Pay karna par raha hai , main abhi har month rs. 20,000/- EMI jama karna cha raha hu , kiya a sahi hoga? aur 20000 pay karne se mera tenure kitna hoga , please reply
Your Banker will guide you.
Approx. It will come down by 5 years.
Prepayment
??Karna chahiye??
Or
??Nahi Karna chahiye??
Please make VIDEO ON SWP
yes sure. stay tuned :)
Hello Ankit. Here's the video on SWP ua-cam.com/video/-sCC4UceW9k/v-deo.html
Hope you like it 🙂
What abou if rate of interest is not fixed??
Followed by same formula
made another video on floating rate home loan. check here:
ua-cam.com/video/3EQvsWdBruY/v-deo.html
I still think reducing EMI is better. Let me explain why. If you reduce your EMI say by 2000 per month then you can also invest that money in MF or other places where you will get a return also in 20 year loan term. You should add that amount with interest and then compare with the extra interest if not gone by tenure reduction. Also what about savings in income tax. You and your wife can claim up to almost 5 lacs per year in home loan savings tax benefit. If you close your loan early say by 5 years, then for those 5 years will pay much higher tax. Please think and calculate by your own what suits you better.
Right to some extent. For some people getting out of loan burden is priority rather than investing in mutual funds that can be risky in short term. Also we have seen home loan rates increase in last couple of years that increases the loan tenure, which just increases the burden. Tax saving should not be the reason to take long term loans.. you are paying 100% interest to save 30-35% of tax which doesn't sound good, better to close the loan and invest that 100% of interest in mutual funds..
Anyway it depends on individuals interest and planning.. no option is 100% right for all
@@fincalc thanks for sharing your thoughts. I guess you are right, one shoe does not fit all.
Sir hme home loan lena hai 15 lac Bandhan Bank de rha hai hamko 8.4 percent par
Ham 1 lac per year prepament kar sakte hai to hme pradhanmantri awas ka labh milega total salary hamri 4.2lac ke aas pas hai
ha prepayment kar sakte hai. Loan interest rate variable hona chahiye
सर मेने 18लाख का होमलोन सात सालो का लीया हैं तो मे टेनयुर कम करे या ईमेआई कृपया बताये
Tenure
Sir HDFC is not deposit prepayment
my friend recently did prepayment in HDFC ltd. Is your loan having fixed interest rate or variable interest rate?
सर मेने एच ड़ी ऐफ सी 18लाख का होमलोन सात सालो का लीया हैं मे हर महिने 36609/-पे करता हु छ महीने के बाद मे सेवानिवृत्ति होने वाला हु तो मुजे सरकार मेसे मिलने वाला फंड़ से मे होमलोन पुरी तरह से भर दु या मे प्रि-पेमेनट करु कृपया बताये
Prepayment karke dhire dhire bhar sakte ho
Preyment ke baad bacha hua tenure kaise calculate karen
excel calculator me track karna padega. yaha se excel download karo: fincalc-blog.in/home-loan-calculation-method-emi-prepayment-examples-formula/
plz send me the excel sheet
please download excel from here:
fincalc-blog.in/home-loan-with-variable-interest-rates-calculation-examples/
Bike loan ka app me bataye
Bike loan ka video hai link ua-cam.com/video/t5oFIqoNL6Y/v-deo.html
Excel download is not working. Didn't receive the mail
Email ID?
@@fincalc 😔
@@hari.hariks what is your email ID?
@@fincalc Not able to post email ids here
Koi loan sasta nahi hai SBI ka home loan 8.55 to 9.05 internet rate 1oct 22 se
Yes abhi home loan rates badh gaye
Tenure reduced hone pr total account balance bhi kum hota kya?
Kindly reply ...
Yes. Principal balance Kam hota hai prepayment karne pe aur tenure reduce karne pe
Thank you
Hloo
Hello sir, just now I gave you my email id through link. Plz send me excel sheet to same email id
while you submit the email ID, you'll get the link to download excel.. Please use that link to download excel sheet. Hope this helps