Anyone can use the Bajaj Personal Loan Calculator to estimate how much they would be required to pay for their loan in monthly installments. The calculator precisely estimates the monthly EMI by considering variables like the loan amount, interest rate, and term. The loan amount borrowed from the lender is the loan amount, and the interest rate is the percentage paid. The term “tenure” refers to how long it will take to repay the loan, generally between one and five years.
The Bajaj Personal Loan Calculator uses these inputs to calculate the monthly installment amount using a mathematical formula. It makes it simple for people to figure out how much they will have to pay each month and allows them to manage their budget correctly.
People may analyze the loan alternatives the lender offers and choose the one that best meets their financial requirements using the Bajaj Personal Loan Calculator. Overall, the calculator is a helpful tool that makes applying for personal loans easier and empowers users to make wise financial choices.
Bajaj Finance Personal Loan EMI Calculator
Bajaj Finance Personal Loan EMI Calculator is a tool that assists people in figuring out the monthly payments they must make on their personal loans from Bajaj Finance. The loan amount, interest rate, and loan tenure are considered while calculating the EMI amount. People must enter the loan amount they wish to borrow, the interest rate offered by Bajaj Finance, and the loan term in months to utilize the calculator. The calculator displays the monthly EMI payment, the entire amount of interest owed, and the total amount that must be paid back [principal + interest].
Bajaj Finance Personal Loan Interest Rate
|
Type of fee |
Applicable charges |
|
Rate of interest |
11% to 35% p.a. |
|
Processing fees |
Up to 3.93% of the loan amount (inclusive of applicable taxes). |
| Flexi Fee |
Term Loan – Not applicable Flexi variant – A fee will be deducted upfront from the loan amount (as applicable below)
*All the Flexi charges above are inclusive of applicable taxes *Loan amount includes the approved loan amount, insurance premium, and VAS charges. |
|
Bounce charges |
In case of default of repayment instrument, Rs. 700 – Rs. 1,200 per bounce will be levied. |
| Pre-payment charges |
Full Prepayment
Part-prepayment
|
|
Penal Interest |
Any delay in payment of the monthly installment shall attract penal interest at the rate of 3.50% per month on the monthly installment outstanding, from the respective due date until the date of receipt of the monthly installment. |
|
Stamp duty |
Payable as per state laws and deducted upfront from the loan amount. |
| Mandate registration charges | Re. 1 (inclusive of applicable taxes) is applicable in case of UPI mandate registration. |
|
Mandate rejection charges |
Rs. 450 per month from the first month of the due date for the mandate rejected by the customer’s bank until the registration of the new mandate. |
|
Annual maintenance charges |
Term Loan: Not applicable Flexi Term Loan (Flexi Dropline): Up to 0.295% (inclusive of applicable taxes) of the total withdrawable amount (as per the repayment schedule) on the date of levy of such charges. Flexi Hybrid Loan: Up to 0.295% (inclusive of applicable taxes) of the total withdrawable amount during the initial tenure. Up to 0.295% (inclusive of applicable taxes) of total withdrawable amount during subsequent tenure. |
| Broken Period Interest/ Pre-EMI Interest |
Broken period interest/ Pre-EMI interest shall mean the amount of interest on Loan for the number of days which is(are) charged in two scenarios: Scenario 1 – More than 30 days from the date of loan disbursal till the first EMI is charged: In this scenario, broken period interest is recovered by the following methods:
Scenario 2 – Less than 30 days from the date of loan disbursal till the first EMI is charged: In this scenario, interest is charged only for the actual number of days since the loan was disbursed. |
Bajaj Finserv EMI Prepayment
Excess funds allow you to repay your loan early, reducing the outstanding amount. This results in interest being charged solely on the remaining balance, diminishing your loan tenure and the monthly EMI. You can prepay your loan amount in just a few simple steps by visiting our @www.bajajfinserv.in/customer-portal
- Sign in to your Bajaj Loan Account here is the direct link @bajajfinserv.in/myaccountlogin/ with your mobile number and date of birth.
- Select the loan account for which you want to make part-prepayment.
- Choose ‘Part-prepayment’ from the list of payment options.
- Enter the amount and review the applicable charges, if any.
- Once you enter all the required details, proceed to part-prepay.
Bajaj Finance Personal Loan Interest Rate Calculator
The Bajaj Finance personal loan calculator can be beneficial when figuring out how much you’ll be paying every month. The Bajaj Finserv Personal Loan EMI Calculator makes it easy for you. It asks for three essential things to calculate your monthly payments –
- How much money do you want to borrow
- The interest rate
- How long do you want to pay it back?
You can change your EMI amount based on what you can afford. If you extend the time you take to repay, your monthly payments will become smaller, and if you want to pay it off faster, the EMI will be higher. You can do this by changing the numbers in the EMI calculator.
The Bajaj Finserv Personal Loan EMI Calculator also breaks down how much of your payment goes towards the actual amount you borrowed and how much the interest is. It even shows you the total cost of borrowing. So, it’s a helpful tool to help you understand your loan better.
Bajaj Finance Contact Details
Bajaj Finance Official Website: https://www.bajajfinserv.in/
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