• English
• English

# Bajaj Housing Finance Loan Against Property EMI Calculator

Smooth Online Process | Flexible Repayment Tenure | Attractive Interest Rates

## Bajaj Housing Finance Loan Against Property EMI Calculator

If you are in need of any kind of financial assistance, from business investment to your child’s education abroad and everything in between, one of the best options would be a loan against property. In simpler terms, it’s a loan that allows you to borrow a fairly large sum of money without you having to worry about repayment immediately. Finserv MARKETS ensures that the entire process of availing a loan against property is simple, easy, and convenient. The loan against property EMI calculator, on Finserv MARKETS, is a feature that lets you find out the exact (Equated Monthly Installments) EMI amount that you pay for a loan amount provided to you.

### EMI term

₹ 5,000 ₹ 5,000
• Total amount payable
₹ 5,000 ₹ 5,000
• Interest rate
₹ 8.99% ₹ 8.01%
• Total interest
₹ 8.99% ₹ 8.01%
• Total interest
₹ 5,000

### EMI term

₹ 5,000 ₹ 5,000
• Total amount payable
₹ 5,000 ₹ 5,000
• Interest rate
₹ 8.99% ₹ 8.01%
• Total interest
₹ 8.99% ₹ 8.01%
• Total interest
₹ 5,000
01 ₹ 4,80,000 ₹ 50,000 8.5% ₹ 50,000 ₹ 50,000 ₹ 50,000

## How to Use Bajaj Housing Finance Loan Against Property EMI Calculator

Follow these easy steps to use Bajaj Housing Finance Loan Against Property EMI Calculator:

1. Enter the principal amount that you would like to avail.

2. Enter the tenure (in months) that you would like to repay the loan amount in.

3. Enter the rate of interest that is offered for your desired loan amount.

## How does Bajaj Housing Finance Loan Against Property EMI Calculator work?

EMI on the loan can be calculated the following formula:

EMI = P × r × (1 + r)n/((1 + r)n - 1)

where P= Loan amount, r= interest rate, n=tenure in number of months.

Consider you have availed INR 10 Lakhs loan from a bank at the rate of 12% for a period of 10 years or 120 months. Then the EMI would be: INR 10 lakh *0.010*(1+0.010)^120/((1+0.01)^120-1))= INR 22,244 per month. In a span of 120 months, it will be INR 13,34,677. Out of this, INR 3,34,677 will be towards the interest.

## What are the factors that affect Bajaj Housing Finance Loan Against Property EMI?

Here are some of the factors that affect the Bajaj Housing Finance Loan Against Property EMI:

• ### Profile of the borrower

Your current employment status and salary is a major factor to assess your capability to pay the monthly instalments. Another factor that is considered is the number of years, you have been working in your current organization. Since LAP is a secured loan, lenders look into the proper documentation for the property, like permissions from local bodies, environmental clearances, building plans, etc. before disbursal of the loan. If there’s any discrepancy with documentation, your chances of you getting the loan reduce. Your income tax returns indicate if you have had a steady flow of cash during that period when you filed your returns, which greatly affects your disbursal limit and eligibility. If there are discrepancies in the income tax documents, your loan application may be rejected. All these factors enhance the EMI amount.

• ### Credit score or CIBIL score of the borrower

CIBIL Score indicates your creditworthiness and ability to repay the loan. If you have outstanding dues, then lenders might grant you loan with higher rate of interest thus affecting the EMI amount.

• ### Tenure for the loan

If your loan tenure, you opt, is relatively short as compared to your average monthly income, your loan EMIs will be quite high.

• ### ✔️What is Loan Against Property EMI?

Loan Against property EMI is the EMI amount the borrower must pay, against the availed Loan Against Property.

• ### ✔️If you have availed a Loan against Property at a floating rate of interest then how will an increase in the rate of interest impact?

With the higher rate of interest, banks/NBFCs provide the facility of longer repayment tenure to cover the EMI payment. If that is not sufficient, then EMI amount is increased. Prepayment of the loan can be used to reduce the EMI amount.

• ### ✔️What are the factors affecting LAP EMI Calculation?

The LAP EMI calculation depends on principal loan amount, rate of interest and repayment tenure.

## Happy Customers of Finserv MARKETS

Getting a loan to take care of my wedding and relieving my parents to enjoy the occasion was the best decision I ever made. Easy-to-apply, amazing interest rate and quick disbursal, what more can one ask for!

I am passionate about the vehicle I drive. I want to protect it with the best available option. What amazed me was the full transparency, quick quotes and the attractive discount on the premium while choosing the annual payment option!

Check your personal loan eligibility in seconds!

My husband and I will finally move into our own house this Diwali. All thanks to Bajaj Finserv, with competitive interest rates, minimal processing fees and easy to repay EMIs, our dream saw the light of reality in no time!