Tips to Reduce Your Personal Loan EMIs

Tips to Reduce Your Personal Loan EMIs

Personal loans can be a great financial tool but managing the monthly EMI payments can be challenging. 

Here are some tips to reduce your personal loan EMI

Choose the Right Loan Tenure

● Longer tenures result in lower EMIs 

● Shorter tenures result in lower interest payable

Negotiate the Interest Rate

Research and compare interest rates to find the best deal and negotiate with the lender to get a favourable interest rate.

Prepay a Portion of Your Loan

Making a part pre-payment can lead to reduction in the EMI or shorten the loan tenure. 

Prepay a portion of your loan (Cont.)

Understand the lender’s repayment terms and conditions to avoid any unexpected penalties or charges.

Choose a Bajaj Finserv Personal Loan for a stress-free experience and tailor your loan payments according to your budget. 

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