Earn rewards in terms of cashback on home Loans
Home Loan processes are not only tedious but the home owners also incur substantial costs under various banks and other regulatory agencies' mandated processing fees. In some cases these charges can add upto one month's extra EMI for the home owners.
Majority of the Home Loan seekers are either not aware of these charges or they think there is nothing they can do about them.
We At LAKSHMONEY, help our customers to reduce the burden of processing fees and other charges
How LAKSHMONEY can help you!
Reduce burden of processing charges borne by customer and passing maximum benefits to them
The following charges that are supposed to be borne by the Home Loan seekers for loan-processing can easily add upto 0.5% to 0.7% of the total loan amount.
- Processing Fees
- Login Charges
- Admin Charges
- Stamp Duty Cost
- Notary & Franking Charges
- Title Search Charges
- Notice of Intimation Fees
Calculate your EMI and Reward
EMI & REWARD CALCULATOR FOR HOME LOAN
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<h1>Calculator Information</h1>
The Equipment Finance Calculator calculates the type of repayment required, at the frequency requested, in respect of the loan parameters entered, namely amount, term and interest rate. The Product selected determines the default interest rate for personal loan product.The Equipment Finance Calculator also calculates the time saved to pay off the loan and the amount of interest saved based on an additional input from the customer. This is if repayments are increased by the entered amount of extra contribution per repayment period. This feature is only enabled for the products that support an extra repayment.The calculations are done at the repayment frequency entered, in respect of the original loan parameters entered, namely amount, annual interest rate and term in years.
<h1>Calculator Assumptions</h1>
<h3>Length of Month</h3>
All months are assumed to be of equal length. In reality, many loans accrue on a daily basis leading to a varying number of days interest dependent on the number of days in the particular month.
<h3>Number of Weeks or Fortnights in a Year</h3>
One year is assumed to contain exactly 52 weeks or 26 fortnights. This implicitly assumes that a year has 364 days rather than the actual 365 or 366.
<h3>Rounding of Amount of Each Repayment</h3>
In practice, repayments are rounded to at least the nearer cent. However the calculator uses the unrounded repayment to derive the amount of interest payable at points along the graph and in total over the full term of the loan. This assumption allows for a smooth graph and equal repayment amounts. Note that the final repayment after the increase in repayment amount.
<h3>Rounding of Time Saved</h3>
The time saved is presented as a number of years and months, fortnights or weeks, based on the repayment frequency selected. It assumes the potential partial last repayment when calculating the savings.
<h3>Amount of Interest Saved</h3>
This amount can only be approximated from the amount of time saved and based on the original loan details.
<h3>Calculator Disclaimer</h3>
The results from this calculator should be used as an indication only. Results do not represent either quotes or pre-qualifications for the product. Individual institutions apply different formulas. Information such as interest rates quoted and default figures used in the assumptions are subject to change.
Loan Calculator
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