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# Bajaj Finance Personal Loan EMI Calculator - Apr 2017

Last Updated 14th Apr 2017

## Bajaj Finserv Personal Loan Calculator

Lowest EMI on Bajaj Finserv Personal Loan - Rs. 2,224 per lakh

Loan Tenure
Loan Amount (Rs.) 2 Years 3 Years 5 Years
100,000 Rs. 4,707 Rs. 3,321 Rs. 2,224
300,000 Rs. 14,121 Rs. 9,963 Rs. 6,672
500,000 Rs. 23,534 Rs. 16,605 Rs. 11,120
1,000,000 Rs. 47,069 Rs. 33,210 Rs. 22,239
Personal Loan EMI Calculator
Rs.

### Factors affecting Bajaj Finance Personal Loan EMI

• Borrower age should be between 25 years to maximum 60 years.
• Maximum personal loan amount offered by Bajaj Finserv is upto Rs. 2,500,000.
• Interest rates range from 11.99% to 15.50% depending upon customer profile, loan amount and other factors.
• Processing fee in Bajaj Finserv may be 2.25% - 3% of loan amount.

### Bajaj Finance Personal Loan EMI

• Personal Loan EMI (or equated monthly installment) is a fixed amount of money paid by you to Bajaj Finserv against the loan taken. This is towards repayment of your loan to the bank. Every month, it is due on a fixed day of the month till your loan is fully paid back.
• With Bajaj Finserv offering Personal Loans with loan tenure upto 5 years, the loan EMI can be as low as Rs. 2,224 per lakh, to make it more affordable and convenient to meet your personal needs. Rate of interest offered by Bajaj Finserv are as low as 11.99%.
• This EMI consists of both interest payment and principal repayment. Though the EMI amount will remain constant, the principal component keeps increasing and on the other hand the interest component keeps reducing.

### Bajaj Finserv Personal Loan calculator formula

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

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

In above formula,

P = Loan amount. This can range from Rs. 100,000 to Rs. 2,500,000

r = Rate of interest per month. Current rate is 11.99%

n = tenure in month. For Bajaj Finserv, this can be 60 months

### Personal loan EMI calculator Bajaj Finance - How it works?

• Bajaj Finserv personal loan calculator calculates EMI considering a combination of loan amount, interest rate and loan tenure.
• Bajaj Finserv personal loan calculator considers “reducing balance basis” and assumes that payment of EMI is made in arrears (means interest is charged for the month preceding the EMI payment date) and not in advance.

### Personal Loan EMI - EMI Changes in case of prepayment

In case you prepay your personal loan, the outstanding balance on your personal loan reduces. Bajaj Finance gives you two options:
• Reduce the amount of EMI and keep your loan tenure same
• It is better to keep the EMI constant and reduce the loan tenure as you pay less interest to the Bajaj Finance in this option.

#### Frequently Asked Questions on Bajaj Finance EMI Calculator

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

Bajaj Finserv offers personal loan at 11.99% interest rate and hence lowest EMI on per lakh loan amount is Rs. 2,224.

Can I prepay my Bajaj Finserv personal loan?

Bajaj Finserv offers you an option of prepayment after 1 months at 4% charges on outstanding principal.

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

Personal Loan from Bajaj Finserv charges a processing fee of 2.25% - 3%.

#### Bajaj Finserv Personal Loan EMI Calculator Customer Care Number, Email, Application Status, Branches

City Customer Care Number
Agra 020-39575152, personalloans1 [at] bajajfinserv [dot] in
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Vijaywada 020-39575152, personalloans1 [at] bajajfinserv [dot] in
Vizag 020-39575152, personalloans1 [at] bajajfinserv [dot] in

Bajaj Finance Personal Loan News - Apr 2017
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