The Bajaj Housing Finance Home Loan EMI calculator is a digital tool that enables you to compute the total cost of borrowing. It is generally provided free of cost, and you can use it on any device from any location.

It helps determine the EMIs payable, total interest outgo, and the final amount to be paid upon completion of the tenure.

By simply entering the loan amount, interest rate, and tenure, you can obtain instant EMI estimates. This tool supports effective financial planning by helping you select a repayment structure that aligns with your budget.

The home loan EMI calculator is easy to use and requires only a few basic details. With this tool, you can instantly determine your EMI and plan your finances accordingly. To use the calculator, simply follow the steps outlined below:

1. Enter your desired loan amount

2. Select the applicable interest rate

3. Choose the preferred loan tenure

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.

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.

Here is an overview of the eligibility requirements for a Bajaj Housing Finance Home Loan:

Salaried Applicants

• Must be an Indian citizen

• Age: 23 to 67 years

• Minimum CIBIL score: 725

Self-employed Applicants

• Must be an Indian citizen

• Age: 23 to 70 years

• Minimum CIBIL score: 725

Once these details are entered, the calculator will instantly show your eligible loan amount and help you plan your home purchase better.