Monthly EMI | ₹ |
Principal amount | ₹ |
Total interest | ₹ |
Total amount | ₹ |
The Bajaj Finserv financial services offer its customers personal loans, that is, for salaried and for self-employed persons. These loan amounts go up to a range of Rs. 25 lakhs and for tenures of up to 5 years. They also have the facilities of instant approval and much more.
If you want a personal loan from Bajaj Finserv and you would like to know how much your EMI would be towards a personal loan from Bajaj Finserv, you can use the Bajaj Finserv personal loan EMI calculator from Groww.
The Bajaj Finserv personal loan calculator is an online tool that you can use to know the amount of EMI you would be paying towards a personal loan that you borrow from Bajaj Finserv.
This calculator is an automated tool and will give you instant answers through a preprogrammed standard formula. You can make use of the calculator before applying for the loan to know if you are ready to take this personal loan.
Moreover, calculator usage will not require any expert technical skills or expertise; it is a simple and user-friendly tool. You will not have to do any manual calculations once you start using this calculator.
Using the Bajaj Finserv personal loan calculator is simple and easy; all you would have to do is follow these minute steps:
Step 1: Enter the principal amount that you want as a personal loan from Bajaj Finserv.
Step 2: Enter the Tenure of the loan scheme that you are borrowing.
Step 3: Finally, you will have to enter the interest rate that is charged by Bajaj Finserv for your personal loan.
After these details have been given, you will automatically see the display of the EMI amount of the personal loan from Bajaj Finserv.
There are several benefits to using the Bajaj Finserv personal loan calculator, and some of the best perks of using it are:
The Bajaj Finserv personal loan calculator uses a standard formula that gives you the most accurate results, and the formula is:
EMI = [ P x R x (1+R) ^ N ]/[(1+R)^N-1]
This formula expanded stands for:
P - The Principal Amount of the Personal Loan
R - The Interest Rate of the Personal Loan from HDB Finance
N - The Tenure of the Personal Loan
This formula can also be explained through an example of a personal loan from Bajaj Finserv, which is mentioned below.
Sushma wants to borrow a personal loan from Bajaj Finserv in July 2022. The amount of the loan that she needs is Rs. 3 lakhs. The Tenure she wants to repay this money is 5 Years. Bajaj Finserv gives her an interest rate of 16%, and therefore mentioned below are the details of their personal loan of Susham:
The principal amount = Rs. 3 lakhs
The rate of interest = 16%
The Tenure of the personal loan = 5 Years
EMI = Rs. 7,295
Based on the example that has been given above, this will be the repayment schedule that Susham will follow to repay her personal loan over a period of five years:
Year |
Interest Paid |
Principal Paid |
Total Payment |
Outstanding Loan |
2022 |
23,329 |
20,443 |
43,772 |
2,79,557 |
2023 |
41,446 |
46,101 |
87,547 |
2,33,457 |
2024 |
33,502 |
54,041 |
87,543 |
1,79,416 |
2025 |
24,193 |
63,352 |
87,545 |
1,16,065 |
2026 |
13,281 |
74,264 |
87,545 |
41,800 |
2027 |
1,971 |
41,800 |
43,771 |
0 |
This is an online calculator where you can know your EMI amount of a personal loan from Bajaj Finserv.
You will have to provide the principal amount, Tenure, and rate of interest.
The formula that is used by this calculator is EMI = [ P x R x (1+R) ^ N ]/[(1+R)^N-1].
You will need to know the amount that you need, the rate of interest that is provided by the bank, and the Tenure that you want to repay the personal loan.
Yes - you can use it as many times as you want to.