With a Personal Loan EMI Calculator, you can easily calculate your EMI online and plan your loan effectively.
Use the Bajaj Finserv online personal loan calculator below by entering the amount you need to borrow, the interest rate and the tenor. Instantly calculate your EMI and even the breakdown of your instalments.
Total Interest Payable
Total Payment (Principle + Interest)
It is a good idea to calculate your EMI before applying for a personal loan. While you can do so manually, using a loan calculator can help you determine a more accurate value. You can select the loan amount, tenor and interest rate to get the exact payable EMI amount with an interactive chart.
Your EMI may affect your monthly expenses. Some simple steps that can help you reduce the loan EMI and manage outlays efficiently are:
The following factors affect personal loan EMIs -
Check out the EMIs on a personal loan of Rs.1 lakh for varying tenors 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|
You can calculate the personal loan interest rate you need to bear and the EMI online by using the personal loan interest calculator.
Once you select the desired loan amount and the repayment tenor and the applicable interest rate, the tool will suggest the exact amount payable. It will be the total interest rate amount payable on the required loan amount over a tenor.
You can also use the Bajaj Finserv Personal Loan EMI calculator to know the EMI payable before applying for a loan in India. It will help you make prior arrangements for ensuring timely repayments.
A personal loan amortisation schedule is a detailed table of periodic payments to be made during the loan tenor. Lenders use an amortisation calculator to create this schedule. Amortisation is a calculation process that specifies loan repayment via EMIs over the tenor chosen.
It carries a detailed breakdown of the principal and interest amount included in every EMI payable through a tenor until the complete repayment of the loan. The schedule gives accurate insights to a borrower on the principal and interest component included in each EMI.
EMI, or Equated Monthly Instalment, is the fixed amount a borrower pays every month to clear off the loan taken from a lender. It is scheduled at a specific date of every calendar month and includes both principal and interest components. The EMI of your personal loan 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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