With a personal loan EMI calculator, you can easily determine your EMIs online and plan your loan repayment effectively.
Use the Bajaj Finserv online personal loan calculator below, by entering the amount you need to borrow, the interest rate and the tenor, to instantly calculate your EMIs and even the breakdown of your instalments.
Total Interest Payable
Total Payment (Principle + Interest)
It is great to calculate your EMI before applying for a personal loan. While you can do so manually, using a calculator can help you determine the more accurate value. You can select the loan amount, tenor and rate of interest to get the exact payable EMI amount with interactive chart.
EMI may affect your monthly expenses until you repay it. Some simple steps that can help you reduce the loan EMI and manage outlays easily are:
Following factors affect personal loan EMIs -
Check out the EMIs on a personal loan of Rs.1 lakh for varying tenor with 13% interest rate at Bajaj Finserv.
|2 Years||3 Years||4 Years||5 Years|
|Total Amount Payable||Rs.1,14,101||Rs.1,21,303||Rs.1,28,769||Rs.1,36,528|
|Total Interest Payable||Rs.14,101||Rs.21,303||Rs.28,769||Rs.36,528|
The personal loan interest rate amount that you need to bear along with the EMI can be calculated online. You need to use the personal loan interest calculator.
Once you select the desired loan amount and the repayment tenor along with the applicable interest rate, then the tool will suggest the exact interest rate amount payable. It will be the total interest rate amount payable on the required loan amount over a tenure.
You can also use the Bajaj Finserv Personal Loan EMI calculator to know the EMI payable before applying for loan in India. It will help you make prior arrangements for ensuing timely repayments.
A personal loan amortization schedule is a detailed table of periodic payments to be made during the loan tenor. Lenders use an amortization calculator to create this schedule. Amortization is a calculation process that specifies loan repayment via EMIs over the tenor chosen.
It carries an elaborate breakdown of the principal and interest amount included in every EMI payable through a tenor, until complete repayment of the loan. The schedule gives accurate insights to a borrower on the principal and interest component included in each EMI.
An equated monthly instalment (EMI) is a fixed monthly payment, part of the equally divided repayments, used to clear off your outstanding loan. Your personal loan EMI depends on the loan principal, the rate of interest and the loan tenor.
An EMI calculator uses a simple mathematical formula to calculate your EMI. The formula used is:
E = P*r*(1+r)^n/((1+r)^n-1) where
Bajaj Finserv’s online personal loan EMI calculator offers the following advantages:
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