Loan Against Property

How to use Mortgage Loan Calculator

How to Use a Mortgage Loan Calculator?

Mortgage Loan or Loan Against Property is a secured loan offered by Bajaj Finserv to meet various big-ticket expenses. Avail this loan by mortgaging a residential or commercial property to acquire funding and cover the expenses of overseas education, emergency medication, destination weddings, etc.

Bajaj Finserv also provides Mortgage Loan calculator to help you assess the loan amount you will have to repay. It is a tool that enables the calculation of total repayment to make, total interest payable and the EMIs to be paid every month. Estimate your monthly instalments with this calculator to plan your finances better.

3 Steps to Use a Mortgage Loan Calculator

  1. Choose The Loan Amount You Seek To Avail
    Before using the calculator, get a reasonable idea of the Mortgage Loan amount you will need to avail. Fill in this amount under the ‘Loan Amount’ section.
  2. Select Repayment Tenure
    Choose a tenure ranging between 2 to 20 years if you are a salaried individual. For a self-employed person, repayment tenure options of up to 18 years are available. Convert your preferable tenure into months and input in the ‘Tenure’ section.
  3. Select Your Rate Of Interest
    At last, input the Mortgage Loan interest rates in the ‘Rate of Interest’ section and check your EMI amount instantly.

Alternatively, you can move the calculator slides in every section to arrive at the desired entries instead of filling them manually.

Additional Read: How to use Education Loan Calculator

Once you have entered all these variables, the calculator will compute the results. Make new entries to arrive at a desirable EMI amount. If you find the total interest payable more than affordable, you may reduce the loan amount entered or increase the tenure.

Check out the easy-to-meet Mortgage Loan eligibility requirements and stay ready with documents necessary. Benefit from the simple online Mortgage Loan process of Bajaj Finserv and enjoy fast approval of your loan application.