Getting a Home Loan: Know About the Various Online Option Available



The COVID-19 pandemic has done damage beyond expectations. However, it has also prompted us to take a closer look at our habits. With lockdown and the threat of the virus still looming large, people are relying more on online platforms for fulfilling all their requirements. And loans are no exception.

A few years ago, nobody could imagine that you can get all information about home loans without visiting the lender's office. But today, it is a reality. Hence, the best time to apply for a home loan is now, as most of the information you need can be found online and reputed lenders like PNB Housing Finance even allow you to apply for a home loan online.

Online Home Loan Calculator

An online home loan calculator is an umbrella term for three types of calculators that lay bare everything you wish to know about home loans. The following are three types of home loan calculators:

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1. Online Home Loan EMI Calculator

An online home loan EMI calculator asks for details such as loan amount, rate of interest, and tenure, and shows you the EMI you have to pay. It also shows you the amortization schedule, which means you can know exactly how much you have to pay as the principal and the interest. The best part of an online home loan EMI calculator is that it provides you with an accurate estimate of the EMI, which can make it possible for you evaluate your financial profile and decide the loan amount accordingly.

2. Online Home Loan Eligibility Calculator

Determining the eligibility for a home loan was a challenge earlier. Not anymore, as a home loan eligibility calculator can give you a complete overview of the loan amount you are eligible for and the EMI amount. To find out the loan amount, you have to enter a few details like the gross monthly income, loan tenure, rate of interest, and existing liabilities. 

3. Online Home Loan Affordability Calculator

A home loan affordability calculator gives you lay down on the value of the property that you may avail and the loan amount you are eligible for. To know your affordability, you have to enter details like the downpayment amount, gross monthly income, loan tenure, rate of interest, and existing EMIs. While it is prudent to keep your home value within the affordable property cost, you may increase or decrease the loan amount depending on your financial profile.

Other Online Features of a Home Loan

Other than calculating the home loan EMI, eligibility, and affordability online, you can avail several other benefits. The following are a few:

Loan Repayment 

Lenders like PNB Housing understand how important time is for you and provides you with online loan repayment facility to make your EMI payments smoother. All you need to do is to inform the loan account number to the lender and pay via Net Banking, Debit Card, or UPI.

Apply For an Instant Home Loan

Modern technology has made it possible to apply for a home loan from the convenience of your home. Visit the lender's website, fill in a few details about you and your property, enter the loan amount, hit the apply button, and wait for the lender to call you. The lender would be happy to guide you through the approval process.


Getting a home loan can be easy if you use technology to your advantage. If you want to fulfil your dream of owning a house, the best time is now.