EMI Calculation Result
Monthly EMI: ₹0
Click the link below to download the free Excel calculator for your home loan EMI:
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document.getElementById(‘home-loan-calculator-form’).addEventListener(‘submit’, function(event) {
event.preventDefault();
let loanAmount = parseFloat(document.getElementById(‘loanAmount’).value);
let interestRate = parseFloat(document.getElementById(‘interestRate’).value);
let loanTerm = parseInt(document.getElementById(‘loanTerm’).value);
if (isNaN(loanAmount) || isNaN(interestRate) || isNaN(loanTerm) || loanAmount <= 0 || interestRate <= 0 || loanTerm <= 0) {
alert('Please enter valid values for all fields.');
return;
}
let monthlyInterestRate = interestRate / 12 / 100;
let numberOfMonths = loanTerm * 12;
let emi = (loanAmount * monthlyInterestRate * Math.pow(1 + monthlyInterestRate, numberOfMonths)) / (Math.pow(1 + monthlyInterestRate, numberOfMonths) – 1);
document.getElementById('emiResult').textContent = emi.toFixed(2);
});
