Use Bajaj Finance Personal Loan Calculator in Advance to Plan Repayment Better

Bajaj Finance ranks among the leading non-banking finance companies (NBFCs) offering a custom suite of lending products such as personal loans that can help fulfill your wishes while simultaneously meeting the contingency needs. Doesn’t matter whether you want funds for a 5-star rated wedding or instant cash to get rid of the emergency that may arise, Bajaj Personal Loan is all there to serve you better. However, you must keep an eye on Bajaj Finance Personal Loan Calculator to be aware of the repayment you need to make with respect to the credit availed. So, you can read this article that would deliberate on the function of the calculator as well as several other details.

How Does Bajaj Finance Personal Loan Calculator Work?

You can operate the calculator easily to find the repayment estimates. All that you need to do is to go online and do the rest. You can find the calculator assessing your eligibility and repayment on the website of Bajaj Finance. Yes, you can find both eligibility calculator and EMI calculator. Let’s talk about these calculators individually.

Bajaj Finance Personal Loan Eligibility Calculator

The eligibility calculator tells you the estimated loan amount you are likely to receive based on your financials. Upon reaching the page of the calculator, you would be asked to fill amount with respect to net salary, date of birth, running loan EMI (if any) and outstanding on credit card (if any). As soon as you feed the details, the calculator would show the estimated loan amount that can be provided to you.

Bajaj Finance Personal Loan EMI Calculator

After knowing the loan amount that you can get, you should check the EMI calculator to figure out the monthly installments that lie ahead of you. Simple, just visit the official website of Bajaj Finance, get to the EMI calculator page and compute the estimates. You just need to enter the loan amount, rate of interest and tenure to sum up the Equated Monthly Installments (EMIs) that combine a portion of interest and principal to be paid to Bajaj Finance over the course of the debt.

An Overview on Loan Amount, Interest Rate and Tenure

The noted NBFC provides a maximum loan of ₹25 lakhs at an interest rate ranging from 10.99%-16.00%. The maximum tenure for which you can get to service the loan is 5 years. Now that you know the three elements - loan amount, interest rate and tenure, you can calculate the EMI and interest.

For example, you availed a loan worth ₹10 lakhs for 4 years at 12% interest rate. In that case, the EMI and interest would be ₹22,244 and ₹3,34,667.

Shall You Apply for Bajaj Finserv Flexi Personal Loan?

This type of loan arrangement allows you to withdraw money from the loan account and transfer the same to your bank. You can choose to pay only interest as the EMI, which reduces by up to 45%. With surplus funds, you can even part pay the loan. You can withdraw multiple times. The interest is charged on the daily basis. You can thus glance at Bajaj Finserv Flexi Personal Loan Calculator to derive the interest.