How to calculate how much money would go towards Principal repayment and Interest toward the Homeloan ?
i.e taking 10 lac loan @ 10.5 % interest rate, how much I would be paying each month towards Principal repayment and towards Interest ?
Professional Answers on Investments
Insurance, Mutual Funds, Sensex, Nifty, Financial Planning
How to calculate how much money would go towards Principal repayment and Interest toward the Homeloan ?
i.e taking 10 lac loan @ 10.5 % interest rate, how much I would be paying each month towards Principal repayment and towards Interest ?
Our Popular Network: | |||||
InvestmentKit.com | WholeSale2c.com | DodaCharts.com | IndianPostOffice.Helpof.com | SBILifeInsurance.Helpof.com | VedicAstrologyKit.com |
ncertcbse.helpof.com | |||||
Go here & put in the numbers to see:
http://www.hsh.com/calc-amort.html
to calculate exact value you need to put in excel sheet and calculate. it is like this. for 10 lac loan at 10.5% interest, calculate interest for one month. it will be 8750. 1000000 * 10.5 / 1200. now from EMI take out the interest part, it will give your principal. there can some variation depending on how the interest and principal are set aside. some banks do on daily rest basis and some on monthly rest basis.
thanks,
srikanth
http://indianstockmarketscomment.blogspot.com
what is the duration of loan