Refinance Loan Calculator- check benefit in refinance or not
>> Tuesday 4 August 2009
Dear friends
Interest rate is falling but if your Home loan EMI remain same and benefit of falling rates has not been passed to you by your Bank.and your thinking of refinance the loan from other Bank/ Institution but not able to decide then I have a for you a solution ie Refinance Calculator. which will basically helps you in taking decision whether you should transfer loan from one bank to other bank or not.(the calculator is created by bankbazar.com.The quotes for different bank loan from various banks is available at bankbazar.com on click of the mouse)
After positive response on EMI Calculator now I have come with the refinance calculator.The source of the calculator is same www.bankbazar.com..The refinance calculator is basically to calculate profit or loss on migration of loan from one bank to other bank with different Interest rates and processing charges.
This calculator is important because common man are not able to calculate difference between two offer.but with this calculator the decision making will be easy .The result of this calculator is based upon saving in interest charges.There are few other factors which effect the decision like EMI amount ,Net present value of Amount paid ,future rate of interest etc etc.Few of the factors are financial where as other have a human touch also.So its a tool which help you in taking decision so take your decision after considering all such points.
How it works:
Online EMI calculator
Calculator brought you by :BANKBAAZAR.COM
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Interest rate is falling but if your Home loan EMI remain same and benefit of falling rates has not been passed to you by your Bank.and your thinking of refinance the loan from other Bank/ Institution but not able to decide then I have a for you a solution ie Refinance Calculator. which will basically helps you in taking decision whether you should transfer loan from one bank to other bank or not.(the calculator is created by bankbazar.com.The quotes for different bank loan from various banks is available at bankbazar.com on click of the mouse)
After positive response on EMI Calculator now I have come with the refinance calculator.The source of the calculator is same www.bankbazar.com..The refinance calculator is basically to calculate profit or loss on migration of loan from one bank to other bank with different Interest rates and processing charges.
This calculator is important because common man are not able to calculate difference between two offer.but with this calculator the decision making will be easy .The result of this calculator is based upon saving in interest charges.There are few other factors which effect the decision like EMI amount ,Net present value of Amount paid ,future rate of interest etc etc.Few of the factors are financial where as other have a human touch also.So its a tool which help you in taking decision so take your decision after considering all such points.
How it works:
- First fill your old loan details as given below ,and press ok.
- Loan amount pending ,
- present emi,
- no of emi pending ,
- pre-payment penalty
- In new screen ,select following (slider base)
- processing charges of new loan ,
- rate of interest of new loan and
- number of EMI (these all are slider base) just drag the pointer to appropriate place.
after this step you get calculation of loss/profit of proposal of new loan vs old out standing loan in terms of Interest and prepayment & processing charges
Online EMI calculator
Calculator brought you by :BANKBAAZAR.COM
