Disclaimer
Results generated by the calculator(s) are indicative in nature. The interest rate applied on the loan will depend on the prevailing rates at the time of loan booking.
The calculator(s) are not intended to provide its users/ customers with results that are either certified by Bajaj Finance Limited (“BFL”) or are an obligation, assurance, warranty, undertaking or commitment, financial and professional advice by BFL, under any circumstances. The calculator(s) is only a tool that assists the users/ customers arrive at results of various illustrative scenarios generated from data input by the user/ customer. The use of the calculator is entirely at the risk of the user/ customer, BFL is not responsible for any reason, for any errors in any outcome resulting from the use of the calculator.
Frequently asked questions
Using the Bajaj Finserv Interest Calculator is easy. To use an interest calculator, enter the loan amount you want to avail. Next, enter the rate of interest on your loan charged by the lender followed by the repayment period you wish to opt for and get accurate results instantly.
To calculate simple interest at an 11% rate, multiply the principal amount by the interest rate and the time period (in years). The formula is: Simple Interest = Principal × Rate × Time.
There are several factors that influence the personal loan interest rate that an individual gets. These include the borrowers' monthly income, credit score, repayment history, debt-to-income ratio, and lender-borrower relationship. In order to gain a good interest rate on your personal loan, and thereby reduce the cost of borrowing, it is advisable to ensure that all of these parameters are healthy.
An interest calculator is an online tool that makes your interest calculations easy. Manually calculating interest based on the interest rate on a loan of different amounts can be a tedious task. Moreover, the chances of errors while making these calculations manually are higher as well. With an interest calculator, you can check the interest payable for different loans amount within just a few seconds. The output from the interest calculator, helps you to decide the loan terms with ease.
To calculate interest rates, use the formula: Interest = Principal × Rate × Tenure. This equation helps determine the interest rate on investments or loans.
The real interest rate is the nominal interest rate adjusted for inflation, reflecting the true cost of borrowing.
Divide the annual interest rate by 12 and multiply by the loan principal: Monthly Interest = (Annual Rate / 12) * Principal.
Use the agreed-upon rate from the loan agreement, applying it consistently to the principal over the loan term.
A fixed interest rate remains constant throughout the loan tenure, providing stability, while a floating rate varies based on market conditions. Use an interest calculator to compare and choose the best option for your needs.
A return calculator helps you estimate the profit or loss on an investment by considering factors like initial amount, duration, and returns, aiding better financial planning.
A CAGR calculator computes the Compound Annual Growth Rate by measuring the mean annual growth rate of an investment over a specified period, smoothing out volatility.
A future value calculator determines the value of an investment after compounding interest over time, considering the principal, rate, and duration.
The magic of compounding refers to earning interest on both the initial principal and accumulated interest, significantly boosting investment growth over time.
A percentage calculator converts a number into its percentage form, making it easier to understand proportions and compare values.
A half yearly interest calculator computes interest by applying the annual rate twice a year, calculating interest on the principal plus accrued interest every six months.
Interest rates are influenced by uncontrollable factors like inflation, economic growth, central bank policies, global economic conditions, government borrowing, and currency exchange rate fluctuations.
Controllable factors include credit score, income level, debt-to-income ratio, loan amount and tenure, collateral, and borrower’s relationship with the lender.
Improve your credit score, increase stable income, reduce debt-to-income ratio, opt for shorter loan tenures, and build a strong relationship with lenders to secure better interest rates.
