Bajaj Finserv Personal Loan EMI calculator
The personal loan EMI calculator is a quick and easy online tool that helps you estimate your monthly instalments in seconds. With the personal loan calculator, simply enter the loan amount, interest rate, and repayment tenure to get accurate EMI results. This smart personal loan calculator also works as a personal loan interest rate calculator, helping you understand how interest impacts your total repayment.
Using the Bajaj Finserv Personal Loan EMI calculator, you can plan your loan in advance and choose a comfortable repayment option. You can calculate EMIs for loan amounts ranging from Rs. 40,000 - Rs. 55 lakh and select a tenure between 12 months to 96 months. Adjust the loan amount and tenure to find an EMI that suits your monthly budget and financial goals.
This personal loan EMI calculator also provides a detailed breakup of the principal amount, interest payable, and total repayment value. With this clarity, the personal loan calculator helps you plan your finances better and make confident borrowing decisions
How to use the Bajaj Finance EMI calculator for a personal loan?
Calculating your personal loan EMI is simple. Just follow these easy steps:
1. Enter your loan details
Fill in the loan amount you want to borrow, the interest rate, and your repayment period.
2. View your EMI instantly
The calculator will show your monthly EMI, total interest, and repayment amount.
3. Adjust and compare
Change the loan amount, tenure, or interest rate to explore different repayment options and to choose the best repayment options that suits your budget.
Apply for a Bajaj Finserv Personal Loan in just a few clicks.
How can a personal loan EMI calculator help you?
A personal loan EMI calculator makes financial planning easier by offering insights into your repayment structure. Here’s how a personal loan calculator can help you:
- Estimating repayments: Calculate monthly instalments based on your loan amount, tenure, and interest rate.
- Budgeting: Determine what you can afford adjusting variables to find suitable EMI amounts.
- Comparison: Compare EMIs for different loan amounts, interest rates, and tenures to find the best option.
- Prepayment evaluation: Evaluate properly that how by making extra payments or closing the loan early affect the total interest paid.
- Financial decision-making: Make better decisions by understanding long-term financial commitments and their impact.
Formula to determine personal loan EMIs
The formula to calculate personal loan EMIs is:
EMI = P x R x (1+R)^N] / [(1+R)^N-1]
Where:
- EMI = Equated Monthly Instalment
- P = Principal loan amount
- R = Monthly interest rate
- N = Loan tenure in months
This formula helps you calculate the fixed monthly payment required to repay a over a certain period, considering the interest rate. Personal loan EMI calculators use it to estimate repayments correctly.
Personal loan amortisation schedule
A personal loan calculator helps you view a clear amortisation schedule that shows how each EMI is divided between principal and interest. This breakdown makes it easier to understand your repayment pattern and track your loan progress over time.
With a personal loan calculator, you can plan your monthly budget better, monitor the outstanding balance, and see how additional payments can reduce your overall interest cost. This clarity supports smarter financial planning and more informed borrowing decisions.
Here is a simple example of the amortisation schedule for a personal loan of Rs. 1 lakh taken for 12 months at an interest rate of 11% per annum:
Year |
EMI for 12 months |
Interest in a year |
Principal in a year |
Closing Balance |
1 |
Rs. 4,00,400 |
Rs. 1,67,465 |
Rs. 2,32,935 |
Rs. 12,67,065 |
2 |
Rs. 4,00,400 |
Rs. 1,37,923 |
Rs. 2,62,477 |
Rs. 10,04,587 |
3 |
Rs. 4,00,400 |
Rs. 1,04,634 |
Rs. 2,95,766 |
Rs. 7,08,821 |
4 |
Rs. 4,00,400 |
Rs. 67,123 |
Rs. 3,33,277 |
Rs. 3,75,544 |
5 |
Rs. 4,00,400 |
Rs. 24,856 |
Rs. 3,75,544 |
Rs. 0 |
Using a personal loan EMI calculator with an amortisation schedule helps you understand how your EMI spilt into principal and interest. This will give you a clear picture for planning your finances better and stay in control of your repayments.
Benefits of using a personal loan calculator for EMI
Using a personal loan interest rate calculator makes loan planning simple and stress-free. It allows online estimation of personal loan EMI without complex calculations.
- Accurate repayment planning: The calculator helps you calculate EMIs precisely based on the interest rate, tenure, and loan amount, ensuring better planning.
- Time saving: Instantly generates EMI results without manual effort, saving time and avoiding errors
- Better financial planning: Helps forecast future repayments so you can manage monthly budgets and expenses confidently.
- Flexible adjustments: Change the loan amount or shorter tenure to see how EMIs vary and choose the most suitable option.
- Informed decisions: Provides clear insights into repayments, helping borrowers make smart and well-informed borrowing choices.
You can quickly check how much loan you are eligible for by using the personal loan eligibility calculator. This tool helps you estimate your borrowing capacity based on your income, existing obligations, and financial profile, making it easier to plan your loan amount with confidence.
Frequently asked questions
An equated monthly instalment (EMI) is a set monthly payment that a borrower makes to a lender on a specific date each month. EMIs include both interest and principal amounts.
A personal loan EMI calculator is a simple online tool that estimates a borrower's Equated Monthly Instalments (EMIs) for a personal loan. By entering the loan amount, interest rate, and repayment period, the calculator provides an exact amount for the monthly payments.
A Personal Loan EMI calculator uses an EMI calculation 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 monthly, and
n is the tenure/ duration in months
For example, you have applied for a Bajaj Finserv Personal Loan of Rs. 1 lakh at an interest rate of 14% p.a. for a tenure of 2 years. Your EMI will be 4801. Check your EMI easily using our online EMI calculator for different amounts of personal loans.
A personal loan EMI calculator helps borrowers choose a suitable loan by letting them compare different loan options based on their EMI affordability. Borrowers can see how monthly repayments change by entering various loan amounts, interest rates, and tenures. This makes it easier to pick a loan that fits their financial situation.
Here are some simple steps to help you lower personal loan EMIs:
Choosing a longer repayment tenure will help you spread the loan cost and lower your monthly instalments.
Keep a good CIBIL Score to enjoy low-interest rates and reduced EMIs.
You can use Bajaj Finserv Personal Loan EMI Calculator to calculate EMIs of personal loans. You must enter the desired loan amount, tenure and interest rate in the personal loan interest calculator to estimate your monthly EMIs in advance.
We strongly recommend not skipping your regular repayments as it could negatively impact your CIBIL score. Also, in such cases bounce charges and penal charges will be charged.
(i) Bounce charges - Rs. 700 to Rs. 1,200/- per bounce
“Bounce charges” shall mean charges for (i) Dishonor of any payment instrument; or (ii) Non-payment of instalment (s) on their respective due dates due to dishonor of payment mandate or non-registration of the payment mandate or any other reason.
(ii) Penal Charge - Delay in payment of instalment(s) shall attract Penal Charge at the rate of up to 36% per annum per instalment from the respective due date until the date of receipt of the full instalment(s) amount.
Find out more about personal loan tenure options
A personal loan amortisation schedule is a detailed table of periodic payments to be made for the loan tenure. Lenders use an amortisation calculator to create this schedule. Loan amortisation is a calculation process that specifies loan repayment via EMIs over the tenure selected.
It carries a detailed breakdown of the principal and interest amount included in every EMI payable through the tenure until the complete repayment of the loan. The schedule gives accurate insights to a borrower on the principal and interest components included in each EMI.
Your Bajaj Finance personal loan interest rate depends on factors like your credit score, loan amount, repayment period, and current market rates. Bajaj Finance Limited offers personal loans at competitive interest rates starting from 10% p.a.
You can calculate your EMIs using our online EMI calculator to get accurate results. Just enter your desired loan amount, interest rate, and loan tenure into the monthly EMI calculator to receive an estimated EMI based on your choices.
Yes, a personal loan calculator can help calculate the total interest on the loan. This provides useful information about the overall cost of borrowing. Using the Interest calculator allows for a more informed financial decision-making process.
The EMI for a Rs. 20 lakh personal loan (10-year tenure) at 10%p.a. interest is approximately Rs. 26,430. Use a personal loan calculator for accurate estimates.
The EMI for a Rs. 25 lakh personal loan (5-year tenure) at 10% p.a. interest is around Rs. 53,037. Adjust the tenure using a loan calculator for precise calculations.
The EMI for a Rs. 12 lakh personal loan (5-year tenure) at 10% p.a. interest is roughly Rs. 25,457. Use a personal loan calculator to explore different repayment options.
Several factors impact the EMI for a personal loan:
- Loan Amount – Higher loan amounts result in higher EMIs.
- Interest rate – A higher rate increases EMIs, while a lower rate reduces them.
- Loan tenure – Longer tenure lowers EMIs but increases total interest paid.
- Processing fees – Additional charges may affect the total loan cost.
- Prepayment and foreclosure – Early repayment may incur penalties, impacting loan expenses.
Use a personal loan calculator to calculate your EMI accurately.
To find the equated monthly instalment (EMI) for a personal loan, you can use this formula: EMI = [P x R x (1+R)^N] / [(1+R)^N-1], where P is the principal amount, R is the monthly interest rate, and N is the loan tenure in months.
