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How to calculate your personal loan EMI using Bajaj FInserv Calculator

By Finserv MARKETS - Nov 28,2019
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How to calculate your personal loan EMI

A personal loan can prove useful in cases of unexpected financial emergencies or even if you just require funds to take your family on a long-awaited trip. A personal loan can also come in handy for occasions such as weddings or celebrations that require a lot of capital to pull off. If you apply for personal loans online on Finserv MARKETS, you can avail up to Rs. 25 lakh to meet any of your personal requirements for capital. The loan can be approved in as little as 3 minutes and the loan amount is disbursed to your account within 24 hours. You can withdraw funds according to your requirements, and repay it in EMIs over a flexible repayment tenure ranging from 12 to 60 months. You can easily find out how much EMI you would be required to pay by using the Bajaj Finserv Personal Loan EMI Calculator, available on Finserv MARKETS.

The loan can be availed without the need for providing any collateral, and only the interest amount needs to be repaid during the initial tenure of the loan. However, before you avail the loan, it is best to find out how much EMI you would be required to pay over the repayment tenure by using the Bajaj Finserv Personal Loan EMI Calculator. The EMIs payable, and your ability to repay them, will impact your overall credit score in the long run and thus, it becomes necessary to know the EMIs well before you avail the loan.

To use the Bajaj Finserv Personal Loan EMI Calculator, you need to enter three details.

These include:

  • the loan amount you wish to avail from the lender
  • the rate of interest which is the actual cost of your personal loan application
  • the tenure of the loan. The loan repayment tenure can be decided by you within the framework of 12 to 60 months. It is important to note that the longer the repayment tenure is, the lower the EMIs you are required to pay each month. However, this increases the total interest payable on the loan.

Once you have used the Bajaj Finserv Personal Loan EMI Calculator, you will be in a better position to assess whether or not you will be able to make the regular EMI payments that are required. It will also help you better negotiate with the lender on the best personal loan that is accessible to you. Only once you have understood the EMI amount that will be payable must you apply for personal loans online, since you will be in a better position to understand how much of your finances you must set aside to repay your loan quickly and conveniently.

Aside from using the Bajaj Finserv Personal Loan EMI Calculator, you can also check the Personal Loan Eligibility Calculator on Finserv MARKETS to assess how much personal loan amount you can eligible to avail. To use this service, you need to provide your net income for each month and the amount you can comfortably repay in the form of EMIs. Once you enter these details, the calculator will be able to tell you how much you can borrow with a personal loan from Finserv MARKETS.

When you apply for personal loans online, you not only save time but also increase the convenience and transparency involved in the process. To avail a personal loan from Finserv MARKETS, you will be required to provide documents that act as proof of identity such as your passport, PAN Card, Aadhar card or voter’s ID. You will also be required to submit proof of your residence, which could include documents such as the electricity bill or gas bill or even your rent agreement. Additionally, you will be asked to provide bank statements over the last three months, which will be required to calculate your credit score and history, and thereby, judge your creditworthiness. Proof of you drawing a regular income in the form of payslips will also be required while applying for a personal loan. This is required since one of the eligibility conditions required for availing a personal loan from Finserv MARKETS is that the individual must be a salaried employee between the ages of 23 to 58 years. The borrower must also be a resident of India to avail a personal loan.

You can also read about the use of EMI calculator.

The best personal loans can help you take care of a range of expenses, including planning your dream wedding just the way you have always wanted it, or even for taking your family on a vacation that will help everybody bond. So, apply for personal loans online on Finserv MARKETS today.

“Finserv MARKETS, a subsidiary of Bajaj Finserv, is a one-stop digital marketplace that has been created for consumers on the go. It offers 500+ financial and lifestyle products, all at one place. At Finserv MARKETS, we understand that every individual is different. And that’s why we have invested in creating a proposition – Offers You Value. A value proposition that ensures you get offers which are tailor made for you. We also offer an amazing product range and unique set of online offers across Loans, Insurance, Investment, Payments and an exclusive EMI store. Be it in helping you achieve your financial life goals or offering you the latest gadgets, we strive to offer what you are looking for. From simple and fast loan application processes to seamless and hassle-free claim-settlements, from no cost EMIs to 4 hours product delivery, we work towards fulfilling all your personal and financial needs. What’s more! Now enjoy the same benefits in just one click with our Finserv MARKETS App”.

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Bajaj Finserv Direct Limited ("BFDL"), erstwhile Bajaj Financial Holdings Limited is a registered corporate agent of Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited under the IRDAI composite registration number CA0551 valid till 10-Apr-2021. BFDL also renders services to Bajaj Finance Limited (‘BFL’) and Bajaj Housing Finance Limited (‘BHFL’) (referred hereinafter as ‘Lending Partner’) in sourcing of customers, providing preliminary credit support activities, fulfilment services and post-acquisition customer services related to lending business. Registered Office: Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035 CIN: U65923PN2014PLC150522