Home loan borrowers must make sure to calculate equated monthly instalments (EMI) as it provides a clear idea of how much a person has to pay in EMIs each month. Calculating EMI allows you to make an informed decision about how much you have to pay each month so that a monthly expense can be planned accordingly.

This aids in determining the loan amount that can be obtained, as well as the required own contribution and property cost. As a result, understanding your EMI is critical for determining your home loan eligibility and better planning your home purchase.