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Mortgage Loan என்றால் என்ன – Mortgage Loan Details Explained in Tamil | Indianmoney Tamil – Sana Ram

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Mortgage Loan என்றால் என்ன?

A mortgage loan is taken to purchase a real estate property, or a piece of land or property for personal or commercial use. A mortgage loan is sanctioned by banks against real estate or property that is pledged as collateral (security against the loan). The rate of interest on mortgage loans differs across banks. This is a secured loan, which means the lender may forfeit property in case the loan is not repaid.

About The Mortgage Payment Calculator :

A mortgage loan calculator is a tool that helps users find monthly EMI on mortgage loans. The users have to provide the car loan amount, interest rate and tenure to calculate monthly EMIS. You can use the online mortgage calculator to enhance knowledge and get a proper idea of various aspects of the mortgage loan. A mortgage calculator comes to the rescue of home Loan EMI calculator customers as it simplifies extensive data and helps users get a clear picture of the variables through charts and graphs.
The mortgage loan calculator uses this formula to calculate monthly EMIS

EMI: P•R (1+ R) N-1

Where.

P stands for the principal amount
R stands for rate of interest
N stands for a number of months

All you would have to do is enter the loan amount, applicable interest rate, and the time period or tenure of the loan, based
on which the EMI is calculated automatically.

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