Shall You Use Bajaj EMI Calculator for Personal Loan?

The fast changing life has led to the emergence of new needs amongst many. College students want to have tablets, latest mobile phones, laptops, etc. On the other hand, families want the latest air conditioners and other consumer durables. And there are some who could feel the need of urgent cash to overcome the emergency. All these can be met with a personal loan that you can avail from lenders such as Bajaj Finserv. The noted non-banking finance company (NBFC) is a proven name in the personal loan segment by offering attractive interest rates and other schemes. However, as the loan would involve interest payments, you should look into Bajaj EMI Calculator for Personal Loan before applying. To know the benefits of the calculator, you must read the article further.

What is Bajaj EMI Calculator for Personal Loan?

The calculator helps calculate the installments applicable to a personal loan. The calculation is made based on three factors - loan amount, tenure and interest rate. The installments involve both interest and principal portions payable every month to Bajaj Finserv. You can also get to know the total interest payable to the lender through the EMIs. As the Bajaj EMI Calculator is available online, you can calculate easily.

How Much Loan Does Bajaj Finserv Provide?

Bajaj Finserv offers a maximum personal loan of ₹25 lakhs based on your eligibility. As the loan amount is directly proportional to the EMI and interest outgo, you must experiment with different figures to choose the right repayment option for you. The main motto should be to reduce the interest outgo yet keeping the EMI affordable to you.

What is Bajaj Finserv Personal Loan Interest Rate?

Bajaj Finserv offers personal loans at attractive interest rates ranging from 10.99%-16% per annum. The interest rates, like the loan amount, impact the EMI and interest outgo directly. Greater the interest rate more would be the outgo and vice-versa. You should negotiate for an interest rate deal close to the lowest limit. Your impressive income, great repayment potential and a good credit score can win you the interest rate negotiation with Bajaj Finserv.

How Much Time Will You Get to Pay Off the Personal Loan Dues?

You will be given 12-60 months to pay off the Bajaj Finserv Personal Loan EMIs. While many choose the longest tenure to feel comfortable as the amount of installment lowers with the same. But when they see the chunk of interest payment made by them over the course of a loan, they feel a bit let down. So, you should choose a tenure that is not the longest but also not very short. Choose a tenure that can help you accommodate the EMI while letting you save on the interest payment.

Bajaj Finserv Flexi Loan EMI Calculator

Bajaj Finserv also offers Flexi Loan by which you can reduce the installment by up to 45%. You just need to pay the interest portion of the EMI. You can borrow from the loan account without making multiple applications and submitting the documents. You can make a part-payment as and when you have surplus funds. The interest will be charged on utilizing the sum.

How to Apply for Bajaj Finserv Personal Loan?

You can apply for the loan using any of the online or offline modes. However, the online application can be made in a few minutes. All you need to do is to visit the official website of Bajaj Finserv and apply for a personal loan by mentioning your personal and employment details. The lender will go through your application and give approval only upon successful verification.