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) are 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

How to calculate personal loan EMIs?

It is great to calculate your EMIs before applying for a personal loan. While you can do so manually, using a loan 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 with an interactive chart.

How to reduce your personal loan EMIs?

Some simple steps that can help you reduce loan EMIs and manage outlays easily are:

  • Opt for a longer repayment tenor, which will help you spread the loan cost over a longer duration and help you pay in small instalments
  • Negotiate with the loan provider for a lower rate of interest
  • Maintain a strong CIBIL score to enjoy lower interest rates and reduced EMIs
  • Shop around for the best deals as per your needs and repayment capacity
What are the factors that affect personal loan EMIs?

The following factors affect personal loan EMIs -

  • Loan amount – Monthly instalments payable are directly proportional to the loan amount opted for. The higher the loan availed, the higher will be your EMIs.
  • Rate of interest – Interest rate is the percentage at which lenders charge interest on the loan amount. A higher interest rate increases the EMIs and vice versa.
  • Tenor – It is the repayment period for the loan availed and is inversely related to EMIs. A longer tenor reduces monthly instalments, while a shorter tenor increases them.

Check out the EMIs on a personal loan of Rs. 1 lakh for varying tenors at 13% interest rate by Bajaj Finserv:



2 Years

3 Years

4 Years

5 Years


Rs. 4,754

Rs. 3,369

Rs. 2,683

Rs. 2,275

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

How is personal loan interest rate calculated?

The personal loan interest rate is decided by your lender basis your loan amount, tenor and credit profile. Once you are aware of the interest rate for you on the desired loan amount and tenor, you may use the Personal Loan EMI Calculator to determine monthly instalments.

To know the exact interest payable, feed all the three values, namely loan amount, tenor and interest rate, in the calculator.

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.

What is a personal loan amortization schedule?

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 selected.

It carries a detailed breakdown of the principal and interest amount included in every EMI payable through the 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.

What is an 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. Your personal loan EMI depends on the loan principal, the rate of interest and the loan tenor.

How does a Personal Loan EMI Calculator work?

An EMI calculator uses a simple mathematical formula to calculate your monthly instalments. The formula used is:
E = P*r*(1+r)^n/((1+r)^n-1) where

  • E is EMI
  • P is the principal loan amount,
  • r is the rate of interest calculated on a monthly basis, and
  • n is the tenor/ duration in months
What are the benefits of a Bajaj Finserv Personal Loan EMI calculator?

Bajaj Finserv’s online Personal Loan EMI Calculator offers the following advantages:

  • Quick EMI calculation
  • Minimizes the chances of error
  • Helps in the evaluation of a suitable repayment schedule via EMI calculation
  • Helps in choosing a suitable amount that is repayable over time without affecting a borrower’s financial health
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