Home Back

Maybank Housing Loan Calculator Malaysia RHB

EMI Formula:

\[ EMI = \frac{P \times R \times (1+R)^N}{(1+R)^N - 1} \]

MYR
%
years

Unit Converter ▲

Unit Converter ▼

From: To:

1. What is the EMI Formula?

The EMI (Equated Monthly Installment) formula calculates the fixed payment amount a borrower pays each month for a housing loan. It considers the principal amount, interest rate, and loan tenure.

2. How Does the Calculator Work?

The calculator uses the standard EMI formula:

\[ EMI = \frac{P \times R \times (1+R)^N}{(1+R)^N - 1} \]

Where:

Explanation: The formula calculates the fixed monthly payment that pays off both principal and interest over the loan term.

3. Importance of EMI Calculation

Details: Understanding your EMI helps in financial planning, comparing loan offers, and determining affordability before committing to a housing loan.

4. Using the Calculator

Tips: Enter the principal amount in MYR, annual interest rate in percentage, and loan tenure in years. All values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: How does Maybank's housing loan compare to RHB?
A: Maybank and RHB offer competitive housing loan rates in Malaysia. This calculator provides comparable EMI estimates for both banks.

Q2: What affects my EMI amount?
A: EMI depends on three factors: loan amount (higher amount = higher EMI), interest rate (higher rate = higher EMI), and tenure (longer tenure = lower EMI but more interest paid overall).

Q3: Should I choose a longer tenure to reduce EMI?
A: While longer tenure reduces EMI, you'll pay more interest overall. Choose the shortest tenure you can comfortably afford.

Q4: Are there other charges besides EMI?
A: Yes, there may be processing fees, insurance, and other charges. Consult with the bank for complete cost details.

Q5: Can I prepay my Maybank housing loan?
A: Most banks allow prepayment, sometimes with charges. Check Maybank's current prepayment policies.

Maybank Housing Loan Calculator Malaysia RHB© - All Rights Reserved 2025