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Bajaj Finserv Personal Loan Calculator

Bajaj Finserv Personal Loan EMI Calculator, Oct 2021

Last Updated 23rd Sep 2021

  • Personal loan EMI in Bajaj Finserv depends upon loan amount, loan tenure, interest rate, monthly salary and company that you work for.
  • Bajaj Finserv Personal Loan EMI Calculator is an online tool to estimate monthly EMI and its division into principal and Interest during the entire loan tenure.
  • Lowest monthly EMI is ₹ 2,275 per lakh on Bajaj Finserv Bank personal loan as calculated using the lowest interest rate of 12.99% for the longest tenure of 60 months.
  • For example, the table below gives the EMIs on Bajaj Finserv Personal Loan at different loan amounts and loan tenure, if taken at the lowest rate.
Loan Amount1 Year Loan3 Year loan5 Year loan
₹ 1 Lakh₹ 8,931₹ 3,369₹ 2,275
₹ 5 Lakh₹ 44,656₹ 16,845₹ 11,374
₹ 10 Lakh₹ 89,313₹ 33,689₹ 22,748

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Personal Loan EMI Calculator Bajaj Finserv

Bajaj Finserv Personal Loan EMI is a fixed amount of money paid by you to Bajaj Finserv based on your loan amount, tenure and interest rate. Every month, it is due on a fixed day of the month till the loan is fully paid back. You can calculate your Bajaj Finserv personal loan EMI in advance, to plan your loan payments and further expenses, using the Personal Loan EMI Calculator Bajaj Finserv. The calculator functions on a mathematical algorithm and gives accurate results in no time.

Why should you use Bajaj Finserv Personal Loan EMI Calculator?

  • Calculate the EMI within your budget: Helps you compare the EMIs with a different loan amount and tenure. Always talk to the bank to know the interest rate you will be eligible for Bajaj Finserv personal loan which can range between 12.99% to 15.50%.
  • Compare Bajaj Finserv personal Loan EMI: Helps you compare the estimated EMI on a personal loan from Bajaj Finserv with that of leading banks in India using the same loan amount of upto ₹ 25 Lakh for a maximum tenure of 60 months, but at different interest rates.
  • Calculate interest on Bajaj Finserv personal loan: You can calculate the split of total EMIs into interest and principal repayment on your loan from Bajaj Finserv over the loan tenure.
  • Detailed amortisation schedule: This allows you to see the pace at which your principal amount will be repaid during the loan tenure month on month. This is helpful if you decide to prepay your loan at Bajaj Finserv or balance transfer to another bank.

Bajaj Finserv Personal Loan EMI Calculator to Estimate the EMI that Fits your Budget

Input different loan amounts and tenure at the eligible interest rate on Bajaj Finserv Personal Loan EMI calculator to calculate various EMIs at different rates and tenure. The table captures the calculation of Bajaj Finserv Personal Loan EMI Calculation at the various combinations of loan amount and years when taking at the lowest rate of 12.99%. So if you think that you can afford to pay an EMI of ₹ 10,000 in your budget, taking a ₹ 3 Lakh loan for 3 years or ₹ 5 Lakh loan for 5 years, maybe the right Bajaj Finserv personal loan plan for you.Personal Loan EMI is calculated for Bajaj Finserv for different loan amounts and tenures at the rate of 12.99%.

Loan Amount (Rs.)2 Years3 Years5 Years
1 Lakh ₹ 4,754 ₹ 3,369 ₹ 2,275
3 Lakh ₹ 14,261 ₹ 10,107 ₹ 6,824
5 Lakh ₹ 23,769 ₹ 16,845 ₹ 11,374
10 Lakh ₹ 47,537 ₹ 33,689 ₹ 22,748

Factors Affecting Bajaj Finserv Personal Loan EMI

  • Loan amount – You will pay a higher EMI for the higher loan amount. Bajaj Finserv gives a minimum loan of ₹ 1 Lakh and a maximum loan amount of ₹ 25 Lakh.
  • Interest rate - Higher interest rate increases your loan EMI as well as the total cost of the loan. Bajaj Finserv personal loan interest rate for salary account holders can be lower than their quote rates, which can reduce the overall cost of loan and EMI. Lowest interest rate offered by Bajaj Finserv is 12.99%. However, it is advisable to do complete market research and compare rates online before you apply for a loan.
  • Loan tenure – This is the period over which you can repay your loan in Bajaj Finserv. So, your EMI will be lower if you take a 60months loan from Bajaj Finserv as compared to a loan taken for 12months. The logic being that if you get a longer period to repay, you can repay in a smaller instalment.

Comparison of Bajaj Finserv Personal Loan EMI with other Banks

Bank Name Interest Rate Loan Amount of ₹ 1 Lakh Loan Amount of ₹ 5 Lakh Loan Amount of ₹ 10 Lakh
Bajaj Finserv12.99% ₹ 8,931 ₹ 44,656 ₹ 89,313
Axis Finance 13.00% ₹ 8,932 ₹ 44,659 ₹ 89,317
RBL Bank 14.00% ₹ 8,979 ₹ 44,894 ₹ 89,787
Muthoot 14.00% ₹ 8,979 ₹ 44,894 ₹ 89,787
IIFL 21.00% ₹ 9,311 ₹ 46,557 ₹ 93,114

Bajaj Finserv Personal Loan Amortization Calculator

Bajaj Finserv Personal Loan amortization schedule gives a break up of your monthly EMI into interest and principal repayment. Bajaj Finserv gives you a detailed amortisation schedule with the sanction letter and you can calculate the total interest outgo as well as the pace at which your loan amount will be repaid during the loan tenure.

How to read an amortization schedule

Suppose if you take a Personal Loan of ₹ 3.50 Lakh for 3 years from Bajaj Finserv at an interest rate of 12.99%. EMI calculated for this loan amount is ₹ 11,791 and the total annual EMIs to be paid annually is ₹ 1,41,494. The EMI schedule of loan for 3 years is explained below in the table –

Amortization Schedule for a Personal Loan of ₹ 3.50 Lakh over the 3 years

Year Interest paid during the year Principal repaid during the year Total amount paid during the year (Interest + Principal) Outstanding Principal
2021 ₹ 11,105 ₹ 24,268 ₹ 35,374 ₹ 3,25,732
2022 ₹ 36,189 ₹ 1,05,305 ₹ 1,41,494 ₹ 2,20,427
2023 ₹ 21,665 ₹ 1,19,829 ₹ 1,41,494 ₹ 1,00,598
2024 ₹ 5,523 ₹ 1,00,598 ₹ 1,06,121 ₹ 0

In the above illustration, on a Bajaj Finserv Personal Loan of₹ 3.50 Lakh, taken at the lowest interest rate of 12.99, EMI paid is ₹ 11,791 and an annual total of EMIs is ₹ 1,41,494, the interest component is ₹ 39,536 while the principal component is ₹ 1,01,958 in year 1 of loan disbursement. You repay only 29.13% of the total principal after paying 12 EMIs during the first year.

Bajaj Finserv Personal Loan Interest Calculator Formula

Bajaj Finserv calculates personal loan EMI based on the following formula

P*r* (1+r)^n/([(1+r)^n]-1)

Here is an illustration of how Bajaj Finserv Personal Loan EMI is calculated:

In the above formula,

P = Loan amount.Bajaj Finserv personal loan amount can range from ₹ 1 Lakh to ₹ 25 Lakh.

r = Rate of interest per month. The current Bajaj Finserv Personal Loan rate is 12.99%.
n = Tenure in month. This can range up to 60months in case of Bajaj Finserv.

How to use Bajaj Finserv Personal Loan EMI Calculator

  • Bajaj Finserv personal loan calculator are online tool which give out EMI calculations using a combination of loan amount, interest rate and loan tenure.
  • Bajaj Finserv EMI calculator considers “reducing balance basis” and assumes that payment of EMI is made in arrears meaning interest is charged for the month preceding the EMI payment date and not in advance.

Bajaj Finserv Personal Loan EMI for ₹ 1 Lakh

The following table shows Bajaj Finserv Personal Loan EMI for ₹ 1,00,000 for different tenures at an interest rate of 12.99%

Loan AmountInterest RateTenure(Year)EMI
₹ 1,00,00012.99% 1₹ 8,931
₹ 1,00,00012.99% 2₹ 4,754
₹ 1,00,00012.99% 3₹ 3,369
₹ 1,00,00012.99% 4₹ 2,682
₹ 1,00,00012.99% 5₹ 2,275

Bajaj Finserv Personal Loan EMI for ₹ 3 Lakh

The following table shows Bajaj Finserv Personal Loan EMI for ₹ 3,00,000 for different tenures at an interest rate of 12.99%.

Loan AmountInterest RateTenure(Year)EMI
₹ 3,00,00012.99% 1₹ 26,794
₹ 3,00,00012.99% 2₹ 14,261
₹ 3,00,00012.99% 3₹ 10,107
₹ 3,00,00012.99% 4₹ 8,047
₹ 3,00,00012.99% 5₹ 6,824

Bajaj Finserv Personal Loan EMI for ₹ 5 Lakh

The following table shows Bajaj Finserv Personal Loan EMI for ₹ 5,00,000 for different tenures at an interest rate of 12.99%.

Loan AmountInterest RateTenure(Year)EMI
₹ 5,00,00012.99% 1₹ 44,656
₹ 5,00,00012.99% 2₹ 23,769
₹ 5,00,00012.99% 3₹ 16,845
₹ 5,00,00012.99% 4₹ 13,411
₹ 5,00,00012.99% 5₹ 11,374

Bajaj Finserv Personal Loan EMI for ₹ 10 Lakh

The following table shows Bajaj Finserv Personal Loan EMI for ₹ 10,00,000 for different tenures at an interest rate of 12.99%.

Loan AmountInterest RateTenure(Year)EMI
₹ 10,00,00012.99% 1₹ 89,313
₹ 10,00,00012.99% 2₹ 47,537
₹ 10,00,00012.99% 3₹ 33,689
₹ 10,00,00012.99% 4₹ 26,823
₹ 10,00,00012.99% 5₹ 22,748

How to Pay Bajaj Finserv Personal Loan EMI?

There are various online & offline methods to pay your Bajaj Finserv Personal Loan EMI. To repay your Bajaj Finserv EMI online, you can log in to your net banking account or else you can also use the mobile banking of Bajaj Finserv. Bajaj Finserv also allows you to pay EMI through ECI or standing instructions or a cheque facility by visiting the nearest Bajaj Finserv branch.

FAQs

Why should I calculate Bajaj Finserv loan EMI before taking a loan?

It is advised to calculate personal loan EMI in advance before taking a personal loan. There are several benefits of calculating your Bajaj Finserv personal loan EMI. For instance, if you want to avail Bajaj Finserv personal loan at the lowest rate of 12.99% and your monthly EMI, which comes out at ₹ 2,275 is more than your monthly budget. You have the chance to apply for a lower loan amount that fits your monthly budget and makes EMI easily affordable. In addition, if you already know the EMI you have to pay each month, you can plan your expenses accordingly. Finally, based on the EMI amount, you can opt to make a prepayment of your loan in the future when you have a surplus amount.

What is the lowest EMI per lakh offered by Bajaj Finserv on a personal loan?

Bajaj Finserv offers a personal loan at a 12.99% interest rate for a maximum of 60 months, and hence lowest EMI per lakh loan amount is ₹ 2,275. However, Bajaj Finserv may offer a lower interest rate to you if you hold your salary account with the bank or if you are an existing customer.

How can I pre-close Bajaj Finserv personal loan?

You can pre-close your Bajaj Finserv personal loan by visiting the branch with the required set of documents. Submit the form of preclosure, pay the amount and take the acknowledgement of the balance amount that you have paid.

What are the prepayment charges on Bajaj Finserv ?

Bajaj Finserv offers you an option of prepayment after 1 months at 4%.You have to pay these charges if you decide to pay the loan amount before the due date.

Is there any processing charge on a personal loan from Bajaj Finserv?

Yes, Bajaj Finserv charges a certain amount of processing fee to process your loan application. Currently, Bajaj Finserv charges a processing fee of Starting from 1.50%, Up to 3% on a Personal Loan.

Will I get a personal loan from Bajaj Finserv if I have a bad credit score?

No, for taking a loan from Bajaj Finserv, you must have a good credit score of 700 and above. Usually, most banks avoid giving loans if you have a low credit score.Also, availing a personal loan at low cibil score might fetch you a high Bajaj Finserv personal loan rate.

What is the EMI for a₹ 20 Lakh personal loan in Bajaj Finserv Bank?

At the current rate of 12.99%, EMI on Bajaj Finserv personal loan for loan amount ₹ 20 Lakh varies based on the loan tenure. For instance, for 2 year, 3 year and 6 years, EMI is ₹ 1,76,356, ₹ 1,88,178 and ₹ 2,26,036 respectively.

Can I have a co-applicant while applying for a Personal loan with Bajaj Finserv ?

Yes, you can opt for a co-applicant to take a personal loan from Bajaj Finserv that will increase your loan eligiblity as the income of the co-applicant is also taken into account.

Can we pay more than EMI in Bajaj Finserv personal loan?

If you have funds, then you can pay more than the regular EMI on your Bajaj Finserv Personal Loan. This will reduce your interest burden along with the outstanding principal. You can also pay one additional EMI every year to reduce loan tenure and in turn interest amount.

How can I pay my Bajaj Finserv loan EMI?

You can pay the Bajaj Finserv personal Loan EMI by using the ECS facility or standing instruction. You can also visit the branch and submit the EMI cheque or can opt for automated deductions from your salary account.

Compare Personal Loan EMI of All Banks

Bajaj Finserv Personal Loan Customer Care Number, Email, Application Status, Branches
City Customer Care Number
Agra 020-39575152
Ahmedabad 020-39575152
Ambala 020-39575152
Anand 020-39575152
Aurangabad Bihar 020-39575152
Bangalore 020-39575152
Bhilai 020-39575152
Bhilwara 020-39575152
Bhiwadi 020-39575152
Bhopal 020-39575152
Bhubaneswar Cuttack 020-39575152
Bikaner 020-39575152
Chandigarh 020-39575152
Chennai 020-39575152
Cochin 020-39575152
Coimbatore 020-39575152
Dehradun 020-39575152
Delhi 020-39575152
Durg 020-39575152
Faridabad 020-39575152
Gandhinagar 020-39575152
Ghaziabad 020-39575152
Goa 020-39575152
Greater Noida 020-39575152
Gurgaon 020-39575152
Guwahati 020-39575152
Gwalior 020-39575152
Hyderabad 020-39575152
Indore 020-39575152
Jabalpur 020-39575152
Jaipur 020-39575152
Jalandhar 020-39575152
Jodhpur 020-39575152
Kanpur 020-39575152
Karnal 020-39575152
Kolhapur 020-39575152
Kolkata 020-39575152
Kota 020-39575152
Kozhikode 020-39575152
Lucknow 020-39575152
Ludhiana 020-39575152
Madurai 020-39575152
Meerut 020-39575152
Mehsana 020-39575152
Mohali Sas Nagar 020-39575152
Mumbai 020-39575152
Mussoorie 020-39575152
Nagpur 020-39575152
Nashik 020-39575152
Noida 020-39575152
Noida Extn 020-39575152
Panipat 020-39575152
Patna 020-39575152
Pondicherry 020-39575152
Pune 020-39575152
Raipur 020-39575152
Rajkot 020-39575152
Ranchi 020-39575152
Rohtak 020-39575152
Roorkee 020-39575152
Salem 020-39575152
Shimla 020-39575152
Sonipat 020-39575152
Surat 020-39575152
Trichy 020-39575152
Udaipur 020-39575152
Vadodara 020-39575152
Varanasi 020-39575152
Vijaywada 020-39575152
Vizag 020-39575152

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Bajaj Finserv Personal Loan News - Oct 2021
  • 2021-07-07 : Bajaj Finance books 46 lakh new loans in June quarter
    Bajaj Finance said on Tuesday it booked 46 lakh new loans (Personal loan, home loan, loan against property, top-up loan and business loan) during Q1 FY22 as compared to 18 lakh in the year-ago period. Customer franchise as of June 30 stood at 5 crores as compared to 4.3 crores last year. The company acquired 19 lakh new customers in Q1 FY22 as compared to 5 lakh in Q1 FY21.
  • 2021-04-30 : Bajaj Finserv reported a Q4 profit of ₹979 crore
    Bajaj Finserv posted a net profit of ₹ 979 crores in the January-March quarter, which marked an increase of 5 times from the profit of ₹ 194 crores during the same quarter last year. The NBFC reported the surge in profit backed by retail loans like home, personal, LAP, two-wheeler, car, education and doctor loan along with business and mudra loan.
  • 2021-01-25 : Bajaj Finserv Q3 results net profit rises 15% to Rs 1,290 crore
    Bajaj Finserv posted a 15% year-on-year rise in its net profit to Rs 1,290 crore in the quarter ended December, backed by home, personal, education, gold, car and two wheeler loans along with business and mudra loans Further, the bank’s revenues climbed 10% year-on-year to Rs 15,960.7 crore.
  • 2020-06-01 : Bajaj Finserv extends loan EMI moratorium
    Following Reserve Bank of India guidelines, the Bajaj Finserv has extended the moratorium on retail loans like personal, home, gold, car, two-wheeler and credit cards till August 31, 2020. It will be applicable for June 1 to August 31, 2020. Individuals will require to apply to avail the benefits of the moratorium. If they fail to apply, loan instalments will continue to be debited every month as per the existing process.
  • 2020-05-20 : Bajaj Finance posted a net profit at ₹948.1 crore
    Bajaj Finance posted a 19.38% decline in consolidated net profit at ₹948.1 crores in the fourth quarter of FY20 when compared to ₹1,176.06 crores a year ago. The bank’s net interest income grew 38% to ₹4,684 in the quarter ending March 31, 2020, crore from ₹3,385 crores a year ago. New loans backed by retail loans like home and personal loans along with business, mudra and two-wheeler loans increased by 3% during the quarter.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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