Home Loan Prepayment & Calculation Method | Reduce EMI or Tenure? With Excel Calculations
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- Опубликовано: 9 сен 2024
- Home Loan Prepayment & Calculation Method | Reduce EMI or Tenure? With Excel Calculations
In this video by FinCalC TV, we will see how to calculate home loan EMI and interest using Excel Calculator formula examples in hindi, save home loan interest using prepayment and home loan principal & interest amounts calculation excel prepayment option & home loan calculation method formula. We will also see how you can save home loan interest by home loan repayment calculation. We will also see how interest and principal amounts of Home Loan EMI will be calculated. Whether to reduce EMI or tenure after Home Loan prepayment. Home loan EMI can be increased to reduce the total interest.
DOWNLOAD Home Loan EMI Excel Calculator:
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Timestamp:
00:15 Intro
01:52 Download Income Tax Calculator
02:21 Home Loan EMI, Principal, Interest & Prepayments
03:32 Options after Loan repayment
03:55 Types of Interest rates in Home Loan
04:22 Prepayment lock in period for Fixed interest rate
05:04 Prepayment charges in Fixed interest rate
05:38 Reasons for Prepayment lock in and charges
06:41 Home Loan Excel Calculator
08:43 Home Loan EMI Calculation formula
10:59 Home Loan Principal & Interest Calculation formula
15:30 Home Loan Interest Change Example
17:17 Home Loan Prepayment Example to save Interest
23:28 Simple Interest on Home Loan Prepayment
26:00 Loan Prepayment Lock in period
27:09 Reduce EMI or Tenure with Calculations Examples
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After watching this video following queries will be solved:
How to calculate home loan EMI?
How to Save home loan interest?
Whether to reduce EMI or Tenure in Home loan after prepayment?
How to calculate home loan EMI in excel sheet?
What is home loan EMI calculation excel formula?
What is home loan calculation method & formula?
How to reduce home loan interest?
Loan prepayment excel examples to save loan interest?
Home loan prepayment charges and lock in period
Principal and interest amounts of home loan emi?
Home loan emi increase will save interest amount?
Benefits of home loan prepayments?
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 #ReduceEMI #ReduceTenure #LoanEMICalculation #EMIExcelFormula #Excel #Calculator #FinCalCTV
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DISCLAIMER:
Examples 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.
Home Loan calculation video aapko kaisa laga? COMMENT KARO
Calculator link: fincalc-blog.in/home-loan-emi-calculator-and-calculation-method/
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Income Tax Calculator: ruclips.net/video/mw-erFuYboM/видео.html
Loan EMI Calculator: ruclips.net/video/FSbYoHAULh0/видео.html
20 Years SIP Calculator: ruclips.net/video/088S2Zk7sYU/видео.html
Loan EMI Prepayment Calculator: ruclips.net/video/liGgfgMn5xg/видео.html
Bhai whats the calculation for Mortgage Loan..? Same process or different?
why dont you share link copy of excel sheet itself. we will modify values as per requirements
Ap bht acha or simple language m samjhate ho 😊🙏
thanks
One of the best in depth explanation and covered all questions I have especially in regards to prepayment and applicable charges, simple interest was totally new for me and I am truly glad came across your channel... I am in the process of applying for home loan and feel more confident. Keep up the good work. Truly blessed to have come across ur channel. God less you tons 🙏
Thank you so much for your lovely comment. I am glad this information on my channel and website will help you in future. Stay tuned 🙂 👍
Thanks lot for this video. Helped me to take decision prepayment vs personal loan to pre close HL
Glad it helped. can you share in how many years you closed loan, and what was the original tenure?
Best video on RUclips on this calculator ❤
Glad it was helpful!
share with your friends
Bahut kaam ki baat batai h sir very very good sir thanks sir
Welcome 🙂
Thanks for presenting clear vision about home loan components with step by step calculations to save hard erning money. Great job 👍👍👍
Glad it was helpful!
Really very good bhayya
You cleared so many doubts
You are a talented financial adviser
Thanks 👍
This is the best video. you cleared my
all doubts . Thank you
Wow Amazing info Thank you sir.. i have recently applied for HL this is damn useful for me
Glad it is helpful. Subscribe and stay tuned for more such finance videos 🙂👍
बहोत ही मालूमात वाली वीडियो है
Nice concept bhai...I watch this video 2 times and likes and share my friends also...truly useful concept bhai...thank you
Thanks and welcome
You have explained well.But,in the table you need to change EMI at the time of reset and then show that without prepayment,the principal and interest become zero at the end of loan period.This will prove that the new emi calculation is correct.
By the way,I have written a Macro to do the calculations.
Thank you for making such an informative video, this has cleared all my doubts.👍👍👍
Glad it was helpful
Thanks sir, aapne bahut deeply bataya
Fantastic ...explained very clear and very best example
Thanks 👍
That Excel calc with examples = Excellent Video. keep up the good work
Glad it was helpful!
Thanks a lot.. 1st detail video available on home loan
Thank you FinCalcTV, this is a very good, very very good video. I was doing these steps, but felt what is the difference between tenure and EMI, and could not find for 26 years. this is very helpful and will follow your advice on tenure reduction.
Glad that my video helped you :)
@@fincalc Hello you are missing the concept of inflation here. The emi amount will be reduced immediately but the benefit of tenure will be towards the end of closure.
Moreover the amount you save today can be invested for extra returns.
thanks for explaining in simple and easy way.
Best video in u tube
Thanks 👍🙂
Most informational video sir🙏🙏
Banks never tell these things,they always keep customer in doubt
Thanx a lot sir🙏🙏
Always welcome, keep watching
@@fincalc Hello you are missing the concept of inflation here. The emi amount will be reduced immediately but the benefit of tenure will be towards the end of closure.
Moreover the amount you save today can be invested for extra returns.
Hello you are missing the concept of inflation here. The emi amount will be reduced immediately but the benefit of tenure will be towards the end of closure.
Moreover the amount you save today can be invested for extra returns.
@@girishs6668 what has inflation to do here?
@@arkakundu225 this guy is simply comparing interest but you should not compare the interest amount paid today vs 25 years later. If you reduce your emi you can invest in other assets to generate good returns instead. See less emi spent today can lead to higher return in your portfolio if you invest it
Thanks for clearing all the doubts
Welcome 🙂
you clear my doubts. Thanks.
welcome
Best vedio, cleared all doubt, keep it up Bhai
Thanks 👍
Its a very detailed explanation thanks for your efforts.
Welcome 🙂👍
Thank you very much
Welcome 👍
Thanks for the very informative video.... very well explained...it will help me a lot in my homeloan also......will get back in case any requirement or queries......👍👍👍👍
how to download excel sheet for calculation
Thank you for explaining all the details step by step and deeply.
Glad it was helpful!
but when you reduced emi, then you saved almost 2000 per month as well. now if you put that money in sip or any other instrument considering 7% interest or more. then it can surely show that reducing emi is more profitable. pls calculate on this option as well and add in your video. thanks
Yes you are right.. but sip in a bad stock or mutual fund might give you less than 7% return.. and is little risky for this reason
Doing prepayment will help you save interest amount for sure and you are reducing your debt in this case
Same amount will be saved on your loan interest.
Fir prepayment karna hi kyu kya logic hai apka eksath prepayment karne ke bad kon emi kam karega
@@fincalc I agree with you, SIP interest is not fixed.
Badya jankari sir
Thank you 👍🙂
You tube ka loan ke liye best video
So very well explained... superb 👍👍
thanks
Thank you for such informative video. I have a question that can we transfer money from foreign account to Indian home loan account?
Thanks. You can transfer from foreign account to Indian Bank account from which emi is getting deducted every month. From this account you can pay the loan amount
Very informative.. Thank you.. ❤️
Thank you so much for this video. you have explained very well, one of the best videos, I subscribed, and I am going to watch more, please make a video on how we can prepay a LIC home loan.
Hello Mr. FinCalC, first of all, it is by far the best video i've seen explaining the terms. Kudos to that!. I have just one query and im sure i will get the right answer from you. I want to ask if every financial corporation or bank do the same settlement with the pre-payment as you did in the example ? Thank you.
Nice & simple explanation👌👌
Thank you 🙂
Thank you brother
Sir please bataye saving bank account me interest kaise count hota hai.?please
ye video dekho ruclips.net/video/86T0t9ms0DY/видео.html
good explanation
Keep watching
LOAN Amount - 9,89,902
Loan Outstanding - 6,89,902
Interest rate - 13 %
Total tenure - 240 months
Muje part payment karna hai - 50,000
Payment karne ke baad kya hoga kya change aayega .
Payment ke baad aapke paas 2 options hai.. emi reduce kar sakte ho ya tenure.. jaise mene calculation examples bataye vaise apne example me check kar sakte ho...
Excel yaha se download karo: fincalc-blog.in/home-loan-calculation-method-emi-prepayment-examples-formula/
Kuch aur queries hai to mujhe contact karo
Email: team.rrrapps@gmail.com
Thank you for the video. My query is -- now i have accumulated a wealth of around 15 Lakhs thorugh mutual funds which i can redeem. For home construction i need 20 Lakhs which I have applied home loan for all. Should i redeem MF or use home loan amount which will be disbursed to me when needed? I have a steady income of 1 Lakh per month but have no emergency fund for now.
thanks, good question. It's better to keep some emergency fund as well. You can redeem half of the mutual fund units to pay for down payment of your new house and take remaining amount as loan. Remember that equity mutual funds should not be considered as emergency funds. so it's better you accumulate 4-6 months expenses as emergency fund and save it in FD or RD
U explained it in a simple manner and to the point, thanks for the information 🎉🎉
Glad it was helpful!
In the first video you showed if you make prepayment of one lakh these particular amount ₹ 849934. 09 that is the interest is calculated. show how it is calculated in paper
G8 very nice explanations sirji❤
Thanks and welcome
Bhai bahut acha vedio
Thank you
Thanks.
Awesome post... Thanks for clarification...
Welcome
Hi, it was very informative video. Can you please tell us if I increase my emi payment by 50-60 percent higher than the emi given by bank then how it ll impact my overall tenure and savings. Example: If I I paying every month emi of 13k regularly and I want to increase to 20k so how it ll impact on my overall tenure and interest savings please explain on this)
Increasing EMI would help to reduce the tenure. And this also helps in reducing interest amount we pay, as total interest amount is related to tenure.
So increasing emiy will be great to close your loan asap
You can also increase the emi amount in excel and check by when the loan will get close
Link: fincalc-blog.in/home-loan-prepayment-calculation-reduce-emi-or-tenure/
@@fincalc Thank you 😊
Sir HBA jo state government employee ko milta hai uska emi calculation ka video banaiye ?
Very good explanation sir
Keep watching
Sir,
1) Regarding top up👇
मैंने एचडीएफसी बैंक से जनवरी 2022 में टॉप अप लोन लिया है | मैं अक्टूबर 2022 में प्रीपेमेंट करना चाहता हूं | मुझे कुछ अलग से जुर्माना/चार्जेस लगेंगे?
2) Regarding Home loan insurance (HDFC)
मैंने एचडीएफसी इंश्योरेंस लेकर रखा है, मुझे होम लोन क्लोज करना है,मुझे इंश्योरेंस की अमाउंट पूरी भरनी पड़ेगी क्या?
क्या होम लोन क्लोज करने के बाद इंश्योरेंस कंपनी को इंश्योरेंस के संबंधी दावा करना पड़ेगा? कृपया बताइए 🙏
Thanks for explaining with clear and good example. I always wonder in most of the videos, it’s always recommended to reduce the tenure rather than EMI. While taking examples of EMI reduction it’s always assumed that there will be full loan tenure instead of considering the reduced amount invested and then again doing the prepayment and finishing the loan earlier. There is one important point which is always missed in these discussions which I came to know from Bank is that if you reduce the Tenure it can never be extended again but For EMI you can increase. I think in uncertainty it’s better to reduce EMI and then try to finish the loan earlier than full tenure. I also heard tenure can not be extended even if you do balance transfer to other Bank.
Thanks for your comment. Depends on person to person to reduce EMI or Tenure. Reducing tenure would save maximum interest though while paying the same EMI, if that is affordable.
There is a case when tenure can be increased - when interest rate increases.
So unfortunately if interest rate is increased, tenure will get extended automatically while EMI will be same
Sir you are good analyser.
Plz make video on as many bank gives the offer for transfer as low interest rate for balance transfer .
Is it feasible that, transfer of loan after 8-9 year to other bank which is gives 1 percent less interest
yes sure. Thanks :)
Yes it is possible
Thank you sir 🙏.
Most welcome
Very nice video
Thanks
Awesome work brother, thank you
Much appreciated
Excellent great information
Very Nicely explained...
Thanks
Tq
Nice video ..Very well explained. 👌👍
Thanks a lot 😊
Loan tenure 20 yrs is most people opt,so please consider for home loan ,for car loan 7or 5 yrs so please consider according to most people opt
ok, will consider such example in upcoming videos. Stay tuned :)
Can you help me with personal loan? For 7 years..shall i choose tenure or EMI option? For every personal loan pre payment/ part payment charges is 3% for 25 lakh month within 3 years? After 1 year there's no foreclosure charges so shall I pay full amount or reduce the tenure period?
Hello sir ji.
Mera home loan 8.1lack Ka home first finance India ltd company se h. Or Mera EMI SEP 2020 se chal Raha h rate of interest 13% h or emi me bad se ab tak Mera principle amount only 550 se 700 tak Kam hi raha h. Or principle Kam bhi ho jata h. Jabki principle amount badna Chahiye . 20 yr k liye h loan.
Kya Karu sir koi upay digiye plz plzzz
Hi do you have a Overdraft Home Loan Calculator with floating interest rates?
you have to use excel calculator to check with floating interest rates.
Here's the latest video I have made on floating rate:
ruclips.net/video/3EQvsWdBruY/видео.html
let me know in case of queries
❤❤❤
Hi Abhilash,
I have a Que.
I have a SBI Home Loan 60lac. For now, pre emi is going on. That means only interest part is getting deducted as a EMI which is 10k.
Along with that if i do pre payment of 40k per month, will that be as good as opting for the full emi ?
Or will that be different?
Pls answer.!!
❤❤❤❤❤❤
Bhai ye btao ki home loan ki emi me 1st month me interest jyada jayega ki principal jyada jayega
depend karta hai loan tenure aur principal amount pe
Nice bhai very well explained.
Thanks
WHY TO PAY SIMPLE INTEREST ON PREPAYMENT AMOUNT AND HOW IS INTEREST CALCULATION OF INTEREST IN THAT MONTH ON REMAINING AMOUNT ?
Very smart video.
Glad you liked it
Excellent information
thank you so much...
welcome
Nicely explained bro!
Glad you liked it
Friend kindly reply EMI same hai .
ROI increase hone ne se principle aur interest badhta hai. ?
Sath sath tenure bhi badhta hai kya? Kindly reply.
Yes interest increase pe tenure increase hota hai.. so interest bhi increase hota hai.. total outstanding principal same rahega and emi bhi same rahega
Friend , this month Mera home loan ka ROI Kum hua hai. Maine tenure Kum karaya hai. Remaining period Karib 21 months se kum hua hai.tenure Kum hua hai.
Lekin total remaining balance Kum nahi hua hai aise kyu??
Kya aisa hota hai? What is your opinion... please guide
Emi ke saath same bank se sip chalu karna चाहिए या दुसरी जगह से चालू करानी चाहिए
Well explained. TQ
Sir pmay subsidy process me hai to pripaymant kar sakte han kya
Ha
Thanks for the video... This will help for many.. I have a query some home loans are paid to us stage by stage also there will be a lot of amount deduction like some charges & a penalty for late EMI payment. Can you help including that too so that many can get a complete idea when the loan will end & such informations. Thanks.
Sir ji ....mene 350 month ka installment liya tha as per retirement age 58...lekin ab bank ne repo rate ke naaam pe installment 488 months ke kiye ...matlab till 72 years .......ye as per RBI VALID HAI KYA SIR?... PLEASE GUIDEE....
Sir home loan ke section letter Name me typing mistake kar diya he or maine signature bhi kar diya blindly..koi problem hogi kya future me ya fir bank me jaakar correction karwana hoga..loan bale bole he is se koi fark ni padega even subsidy ke liya apply karne me bhi..plz reply
I like this video sir
Thanks 🙂👍
NICE
Thanks 👍
Pls tell the system where in the home loan is reduced by investing in Systematic investment plan in any bank who has given u the loan .
Well explained sir,mene apni hl me 15 emi eksath jema ker di,per SBI bank ne tenure Kam kerne ke liye mena ker diya?
Kya kerna chahiye mujhe?
Thanks for sharing this valuable info. But Home Loan Prepayment Example to save Interest is not working in excel sheet which i have created... can u suggest on this. or can you share the excel sheet
You can download the excel from this link fincalc-blog.in/home-loan-prepayment-calculation-reduce-emi-or-tenure/
If part disbursement done and after 2 yr balance amount of total loan amount paid by bank. Paid full EMI of loan amount of part disbursement then how is the calculation and tenure will reduce in that case.
Very informative 👍👍👍👍
Thanks for liking
Mujhe school banane ke liye 100/2o fit 2nd floor hai kitne mileage aurkab tak chukana hoga bataye
I still not understood simple interest...
My EMI is auto debited on 10th of every month... If i want to do prepayment then on which day of every month i should do?
do on 1st day of the month
Super duper hit
Thanks
Sir ji repayment me normal karna chahiye ki reduce principal
Hamara HBL loan 15 years ka ab 7 years ho gia to ab due loan all pay karna chate hu 8 years pehele to kya subista milega humko.pls tell me sir
Sumif ka formula bata de pls calculation karna hai total savings?
Thanks for sharing 👍
Welcome
In floating rate loan can prepayment be made in small amounts any no of times?
Prepayment online karane ke time, bank ko information dena jaruri hai kya.
Thanks Sir.
Welcome 🙂👍
if I do the prepayment on the same day of EMI, what will be my simple interest in prepayment?
Regarding simple interest calculation on prepayment....if the EMI date is 10th....and I prepay on 25th of the month, simple interest will be calculated for how many days?
For 15 days. From 10th to 25th
Very informative video 🙏
thanks