Estimate the EMI, total interest and total cost when you pay for roof replacement, waterproofing or façade work with a home improvement loan, personal loan or card EMI.
Use this calculator when you plan to finance a larger roof or façade job, for example a new sheet roof with steel structure or full exterior cladding, through a bank's home improvement loan, a top-up on an existing home loan, a personal loan or a credit card EMI. Enter the amount you will borrow, the annual interest rate in the offer, the tenure and the processing fee or other upfront charges.
Formula: the EMI uses the standard reducing-balance formula EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the amount, r the monthly rate (annual rate ÷ 12 ÷ 100) and n the number of months. Total paid = EMI × n + upfront charges.
Worked example (illustrative): ₹3,00,000 at 11% a year over 3 years (36 months) gives an EMI of about ₹9,822. Over 36 months you pay about ₹3,53,600, so interest is about ₹53,600; add a ₹3,000 processing fee and the total is about ₹3,56,600.
Limits: the rate and fee are examples, not offers. Home improvement loans and top-ups secured on the house are usually cheaper than unsecured personal loans, but terms differ by lender. Check the Key Facts Statement for the annual percentage rate (APR), fees and prepayment terms. See repair or replace a roof.
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