Year EMI (Rs.)
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
(Input only blue font) Normal Home Loan Smart Home 'A' Smart Home 'B'
Loan Amount 5,500,000 5,500,000 5,500,000
Rate of Interest 8.25% 9.70% 9.70%
Tenure (in months) 240 240 240
Excess Deposit                              -                        263                        -  
EMI                       46,864                  52,662                  52,662
Smart Home 'A' - is when the customer deposits an incremental amount every month  
Smart Home 'B' - is when the customer maintains a constant deposits from the start of the loan 
Interest Saving Normal Home Loan Smart Home 'A' Smart Home 'B'
Interest paid 5,747,267 7,005,732 7,138,771
Interest saving over the tenor of the loan   (1,258,466) (1,391,504)
% Saving   -22% -24%
Tenor Saving Normal Home Loan Smart Home 'A' Smart Home 'B'
Tenor                            240                      237                      240
Saving in no. of EMIs                            3                        -  
% Saving    1% 0%
Interest rate on normal loan for similar interest payout 8.25% 9.73% 9.89%
  • Smart Home A Amortisation Schedule
  • Smart Home B Amortisation Schedule
  • Normal loan Amortisation Schedule
  • Graphical Comparison of amortisation of different schemes
  • Assumptions


Assumptions

  • Smart Home A: The customer saves an incremental amount of specified amount in scheme A every month from his income and the same is deposited into the Smart Home Account
  • Smart Home B: The customer deposits amount mentioned in Smart home B as deposit which remains with the Bank till the end of the period
  • There is no change in the EMI over the tenor of the loans
  • The EMi is calculated based monthly rests
  • The excess paid by the customer will be credited to the Smart Home account and hence halp save interest cost is subsequent months.
  • EMI is calculated daily but charged on a monthly basis.
  • Interest on Smart Home loans are based on 31 day month basis.


Disclaimer

These tables are based on current rates quoted which are subject to change and which may not apply to your loan. The computation in this document is based on simulated figures and a number of underlying assumptions. this document is for illustrative purposes only and should not be relied upon when making individual decisions on your home loan package. Please consult your Mortgage Sales Manager to ensure that you receive complete information on the options available to you. All loans at the sole discretion of The Hongkong and Shanghai Banking Corporation Limited, India