At an illustrative 14% per annum, a Rs. 1.5 lakh personal loan towards your Sri Lanka trip cost costs Rs. 7,202 a month over 24 months (2 years). You repay it in equated monthly instalments (EMIs), and a shorter tenure cuts the total interest.
Worked example: Venkat in Chennai
Venkat is 42 and works as a salaried branch operations head in Chennai. He earns Rs. 1,20,000 a month and has a CIBIL score of 770. His family's 7-day Sri Lanka trip cost is Rs. 1,84,000, and he has Rs. 34,000 in savings. He borrows Rs. 1.5 lakh at an illustrative 14% per annum.
EMI = P × R × (1 + R)^N ÷ [(1 + R)^N − 1]. P is the loan amount in rupees, R is the annual rate divided by 12 and by 100, and N is the tenure in months. The formula spreads the principal and interest into equal monthly payments, so early EMIs carry more interest and later ones more principal. All figures are rounded to the nearest rupee.
| Tenure | Monthly EMI (Rs.) | Total interest (Rs.) | EMI as share of salary (%) |
|---|
| 12 months (1 year) | 13,468 | 11,617 | 11.2 |
| 24 months (2 years) | 7,202 | 22,846 | 6.0 |
Last updated: 16th October, 2026
The 24-month option lowers the EMI by Rs. 6,266 but adds Rs. 11,229 in interest. The processing fee on Rs. 1.5 lakh is up to Rs. 6,195. Venkat picks 12 months (1 year), because Rs. 13,468 is 11.2% of his salary and his Sri Lanka trip cost is repaid within the year.
What can delay approval: a CIBIL score below 650 or existing EMIs that take up a large share of your income. Names or addresses that do not match across documents, and more than one loan application in the same month, can also slow it down.
Planning to cover a Sri Lanka trip cost for your family? With a Bajaj Finance Personal Loan, you can borrow Rs. 40,000 to Rs. 75 lakh, subject to eligibility. Check your loan offer with your phone number and a one-time password (OTP) → apply online in about 5 minutes → receive funds within 24 hours* of approval.
