How to reduce Personal Loan EMIs

When you take a personal loan, you repay it in equal instalments called EMIs. Each EMI includes the principal amount you borrowed plus the interest charged on the loan. You can also check if you already have a pre-approved offer in your city. The entire process is online, no branch visit required: Check your pre-approved loan offer with phone number and OTP → Apply online in 5 minutes → Receive funds within a day*.

Knowing how your EMI is calculated helps you plan your budget comfortably. If you want to manage your loan without stress, you can Get funds in 24 hours by choosing the right options for your repayment.

Your EMI depends on a few key factors:

• How much loan you have taken
• The interest rate charged on the loan
• The repayment tenure you choose
• Your net monthly income

If your EMI feels too high and you want to manage your expenses better, here are some tips to reduce it:

When you apply for a Bajaj Finserv Personal Loan, you can pick a repayment tenure that suits your budget. Choosing a longer tenure spreads your total repayment over more months, which lowers your monthly EMI. This gives you more breathing space for daily expenses.

However, a longer tenure may mean paying more interest overall. You can use our online calculator to see how different tenures affect your total loan cost: Calculate personal loan EMI. Only 2 steps to check your eligibility!

If you have extra funds, consider repaying a portion of your loan early. This reduces the principal amount, so interest is charged on a smaller balance. In turn, your EMI comes down, helping you manage your finances more comfortably.

Bajaj Finserv Personal Loans offer a unique Flexi facility, available in two options: Flexi Term and Flexi Hybrid Term Loan.

With the Flexi Term option, interest is charged only on the amount you are currently using, not on the entire sanctioned loan. This lowers your EMIs significantly. The Flexi Hybrid Term Loan option gives you all the benefits of Flexi Term, plus the ability to pay only the interest for the initial part of the tenure. This means even smaller EMIs at the start, making repayment stress-free.

Additional read: Know everything about the loan