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Bajaj Housing Finance Home Loan EMI Calculator

The Bajaj Housing Finance Home Loan EMI calculator is a digital tool that enables you to compute the total cost of borrowing.

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It is generally provided free of cost, and you can use it on any device through the official website from any location.

It helps determine the EMIs payable, total interest outgo, and the final amount to be paid upon completion of the tenure. Tools like the Bajaj Housing Finance Home Loan Calculator are easy to use. 

To use the online calculator, enter the required input values such as principal, interest, and tenure to know the EMI. 

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Your Home Loan EMI
₹ 386,230
Total Interest Amount
₹ 89,042,767
Principal Amount
₹ 50,000,000
Total Payable Amount
₹ 139,042,767
Loan Amount i
Interest Rate
- +
Min value reached
Max value reached
Tenure
Months drop-down-img
  • Years
- +
Min value reached
Max value reached
Check Offer

You can also make instant comparisons between loan offers from multiple Home Loan providers on Bajaj Markets.

...

 

Furthermore, you can gain deeper insights into your loan instalments with the free amortisation schedule, which is provided with each calculation. 

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To calculate the Bajaj Housing Finance Home Loan EMI, you can either perform the calculation manually or use a digital EMI calculator. To calculate the EMI value manually, you can use this formula:

EMI = [P x R x (1+R)^N] / [(1+R)^N-1]

Here,

  • P is the principal amount

  • R is the interest rate

  • N is the repayment tenure

For instance, you receive a home loan of ₹50 Lakhs at an interest rate of 8.55% p.a. for 15 years. Your monthly EMI becomes ₹49,384,  with a total interest payable of ₹38,89,054, and a total repayment amount of ₹88,89,054 at the end of maturity. 

However, the manual calculation can be time-consuming and is prone to errors. Instead, you can calculate this using a free online calculator.

The Bajaj Housing Finance Home Loan Calculator lets you determine the EMI amount that you will have to pay on a certain loan amount. To use this online tool effectively, all you have to do is follow these simple steps: 

  1. Enter the amount that you wish to get as a loan from Bajaj Housing Finance 
  2. Type in the loan repayment tenure
  3. Enter the interest rate applicable 

After entering the details, you will instantly see the home loan EMI amount on the screen. You can even change the variables to arrive at a number that is most suitable for you.

When deciding on the repayment tenures, you must bear in mind the following:

  • The longer repayment tenure would mean that you will have to pay lesser amounts as EMIs. However, since you will be charged interest for the longer term, you will end up paying much more in interest charges. 

  • If you select a shorter repayment term, you will have to pay a higher sum on EMIs. At the same time, the total interest that you will pay over time will be considerably lower. 

For a home loan, assume that the applicable interest rate is 12%. The following table determines your Bajaj Housing Finance Home Loan EMI for different repayment tenures. 

Principal Amount

Loan EMI (based on tenure)

15 years

20 years

30 years

₹25,00,000

₹30,004

₹27,527

₹25,715

₹50,00,000

₹60,008

₹55,054

₹51,431

₹75,00,000

₹90,013

₹82,581

₹77,146

₹1,00,00,000

₹1,20,017

₹1,10,109

₹1,02,861

Disclaimer: The above EMIs are calculated with the calculator available on Bajaj Markets. Actual figures may vary depending on the loan terms.

Your home loan includes additional charges such as foreclosure fees and part-payment charges. These charges, along with other standard factors, influence your home loan EMI:

  • Principal Amount

A higher principal home loan leads to a higher EMI value each month. Since the total repayment obligation increases, you need to pay larger EMIs throughout the tenure.

  • Interest Rate

The interest rate, being the cost of borrowing, raises the overall payable home loan amount. It may lower your monthly EMI outflow but adds significantly to the total repayment by the end of the loan tenure.

  • Loan Tenure

A shorter repayment tenure increases your monthly EMI. In contrast, opting for a longer tenure decreases your EMI but results in a higher total interest payable over time.

  • Part-payments and Foreclosure Charges

Making part-payments or repaying the loan before the scheduled tenure can reduce your EMI burden. However, such actions typically attract foreclosure fees or part-payment charges.

  • Processing Fees

At the time of loan approval, the lender levies processing fees for loan evaluation and disbursal. This amount is deducted from the sanctioned loan sum and can influence your final EMI. 

There are several advantages to using the online BHFL home loan calculator, such as:

  • An online EMI calculator is simple to operate and delivers quicker results than manual calculations

  • It ensures accurate outputs within seconds, eliminating the risk of errors or mathematical mistakes

  • A digital calculator offers a comprehensive cost breakdown of the home loan, including interest, EMI, and total amount payable

  • This free-of-cost tool enables comparison of various loan options across different repayment tenures

  • You can evaluate and confirm the repayment terms provided by the home loan lender using this tool

FAQs on Bajaj Housing Finance Home Loan EMIs

Bajaj Housing Finance Home Loan EMIs
How can the Bajaj Housing Finance Home Loan Calculator help me plan my home loan purchase?

The Bajaj Housing Finance Home Loan calculator can help you determine your monthly EMI outflow. You can chalk out the repayment plan easily if you know what amount of money you need to set aside every month.

Partial repayment will help you save up on the interest you would have otherwise paid the lender over time. Additionally, if you partially prepay your home loan, you will get to reduce your repayment tenure. Instead, you can get your monthly EMI outflow reduced.

Yes, you can reduce your home loan EMI by prepaying a part of your loan. You can also reduce it by paying higher EMIs during the initial few months of the loan tenure.

Bajaj Housing Finance levies no foreclosure or part pre-payment charges from individual borrowers on floating-rate loans. However, you may need to pay up to 4% of the principal loan amount as foreclosure or part-payment charges in the case of fixed interest rates.

You can use either a mathematical formula or an online calculator to calculate your EMI for a Bajaj Housing Finance home loan. To make a manual calculation, you can use this formula:

EMI = [P x R x (1+R)^N] / [(1+R)^N-1]
Here,

  • P is the principal amount

  • R is the interest rate

  • N is the repayment tenure

However, manual calculation can increase the likelihood of errors, which you can avoid by using an online calculator. Unlike the manual method, it simplifies this process, and you can get your EMI outflow within seconds.

A Bajaj HFL home loan EMI amortisation schedule is a detailed tabular breakdown of the monthly EMI payments. It outlines the interest payable, EMI amounts, and the outstanding loan balance over the repayment period.

Each monthly EMI comprises a portion of the principal amount and the applicable interest. In the initial stages of repayment, a larger portion goes towards interest, whereas the later stages reflect higher repayment of the principal and lower interest outgo.

Part-prepayments reduce the outstanding principal amount, thereby lowering the total interest payable. Following a part-prepayment, your EMI obligations will decrease, or the loan tenure can reduce, depending on the repayment structure.

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