Home Loan Tax Benefit Calculator

Transfer your Home Loan for lower EMIs

Calculate Your Home loan EMI, Eligibility and Home Loan Balance Transfer

Calculate your Home Loan EMIs instantly

Our Home Loan EMI calculator is a simple tool that helps you know your EMIs before applying for the loan. Basis on your principal amount, loan tenure and interest rate, you can calculate, plan and distribute your loan EMIs over a convenient tenure.

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Loan EMI
Interest Payable
Total Payment
Check Repayment Schedule
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Home Loan Eligibility Calculator

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Your Eligibility
Your Home Loan EMI will be
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Note: Our calculators are easy-to-use financial planning tools that can assist your financial plans. The calculations rely on several factors along with the assumptions that are provided by you. Therefore, we do not assure their accuracy and relevance to your situations.

Our intuitive and user-friendly Home Loan Eligibility Calculator lets you check your eligibility for availing a home loan without any hassles.

Your home loan eligibility is calculated on the basis of your salary, age, credit score, ongoing financial obligations, credit history, and several other factors. By checking your eligibility with this calculator, you will know about the eligible loan amount. Therefore, it will help you to avoid loan rejections that can adversely impact your credit score.

To check your home loan eligibility, you can follow these steps:

  • Step 1: Enter your net income.
  • Step 2: Choose a tenure that suits your financial plans and allows you to repay the loan easily.
  • Step 3: Select the rate of interest.
  • Step 4: Enter the amount that you are paying in the form of EMIs to clear your existing debts (if applicable).’ The user-friendly home loan eligibility calculator will show the home loan amount that you are eligible for.

Ways to improve your eligibility for procuring home loans

Clear your debts, pending loans, and outstanding amount of credit card(s) immediately. To qualify for a higher loan amount, increase the loan tenure as it cuts down the EMIs. However, the interest outgo may increase if you opt for a longer tenure. Applying jointly for a home loan might also improve your home loan eligibility.

Calculate your Home Loan Balance Transfer EMI Instantly

Existing Loan

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Loan from Poonawalla Home Loans

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Total Saving in Cash Outflow
Existing EMI
Proposed EMI
Saving in EMI
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Note: Our calculators are easy-to-use tools that can assist your financial plans. The calculations rely on several factors along with the assumptions that are provided by you. Therefore, we do not assure their accuracy and relevance to your situations.

Our home loan balance transfer calculator helps you forecast the money you can save after transferring your home loan to Poonawalla Fincorp. It shows the revised EMI and tenure based on the below values of your existing home loan:

  • Principal Outstanding
  • Tenure
  • Rate of interest

Steps to utilize our Home Loan Balance Transfer Calculator

  • 1. Enter the principal amount standing amount
  • 2. Specify the balance loan tenure
  • 3. Specify current home loan interest rate
  • 4. Select new loan ROI and tenure
  • 5. The calculator will show the savings on each EMI and proposed EMI, and other factors that will help you make an informed decision, in case you make a balance transfer to Poonawalla Fincorp.

Why use our home loan balance transfer calculator?

Our intuitive home loan balance transfer calculator gives an idea about the reduced interest outflow after you switching from your existing loan provider. Thus, it helps you understand how you can reduce your EMI burden and assists you in making better financial decisions.

The calculator also gives you an idea if you can avail of a more flexible and longer tenure upon transferring the loan balance to Poonawalla Fincorp.

Home Loan Tax Benefit Calculator

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Total Income Tax Benefit
Income Tax Payable Before Home Loan
Income Tax Payable After Home Loan
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Our home loan tax benefit calculator enables you to get an estimate of the amount of tax that you can save by claiming deductions as per the Income Tax act. As per the Income Tax Act (1961), you can receive tax benefits on both home loan components i.e. the principal and interest amount.

Eligibility for claiming tax deductions

As per Section 80C of IT Act, a deduction of up to Rs. 1,50,000 can be claimed every year for repaying the principal on properties that are both rented and self-occupied. To qualify for this benefit, you must avoid selling the property till it completes 5 years from the date of possession.

As per section 24B of the Income Tax Act, you can claim a deduction of Rs. 2,00,000 if you take possession or construct a house within the first 5 years once you take a home loan. If the period of 5 years exceeds, you will be able to claim only Rs. 30,000.

How does our home loan calculator work?

The home loan tax benefit calculator will forecast the tax benefit as per your age, whether you have applied for a joint-home loan, the income tax slab you belong to, and several other factors. With the help of this intuitive home loan tax benefit calculator, you will get to know about the tax benefits accurately based on these factors:

  • Age
  • Annual Income
  • Interest repaid on the home loan
  • The principal amount repaid on the home loan

Disclaimer*

Our calculators are easy-to-use tools that can assist your financial plans. The calculations rely on several factors along with the assumptions that are provided by you. Therefore, we do not assure their accuracy and relevance to your situations.

How to Apply for Home Loan In 5 Easy Steps?

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On the application form, fill in your basic details

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