Home Loan Interest Rate – How to know how Much is Payable over a Tenor

Even though a home loan is a secured debt, it may lead to a higher interest rate charge if you opt for a longer tenor. 

Lots of people go for a longer tenor to repay smaller home loan EMIs, avoid defaults and even continue managing other debts easily. 

But they have to pay a higher home loan interest rate owing to an extended-term. 

Thus, is it possible to know how much interest rate charges to pay over a tenor? 

Yes, it is possible when you use the online home loan interest rate calculator. 

Read on and know more!

Here’s how you can know how much interest rate charges to pay 

1. Land on the website of the lender you are applying for the housing loan with and open the home loan EMI calculator. 
2. On the tool, you need to enter or choose your desired loan value, applicable interest rate and the repayment tenor. 
3. Once done, the tool will showcase an exact home loan EMI value payable over a tenor. It will also display your exact payable home loan interest rate charges, along with the total loan cost (principal and interest). 

The results showcased by the home loan interest rate calculator are accurate and without errors. It also displays real-time results with no delays. 

Using the home loan interest rate calculator, you can quickly plan out your finances before applying. 

Thus, if you have a home loan to apply for, you can know about the correctly payable housing loan interest rate charges beforehand.

Read Also: Calculate Home Loan EMI in 3 Dead Easy Steps