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How to Calculate EMI for a Rs. 5 Lakh Home Loan?

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Summary

To calculate the Equated Monthly Installment (EMI) for a home loan of 5 lakh rupees, we consider an annual interest rate of 8.40% across different loan terms such as 10, 15, and 20 years. Borrowers repay the loan amount through fixed monthly payments over their selected duration.

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