Personal Loan EMI Calculator Online

Now that you have decided to avail a personal loan, it is critical that you plan your monthly payouts or EMIs alongside your other financial obligations. The aim is to pay the EMI on time without defaulting on it. To ensure this, you need to know the exact monthly outflow of your EMI amount. The Personal Loan EMI Calculator by Finserv MARKETS is the quickest way to know this.

There are three important inputs required when using the EMI Calculator:

  • Loan amount

This is the principal amount of Bajaj Finserv Personal loan that you wish to avail from us.

  • Rate of interest

The rate of interest is the actual cost of your personal loan application.

  • The tenure of the loan

The next input is the loan tenure or loan duration. This the total duration in months or years in which the EMI will repaid.

Use our Personal Loan EMI calculator

** The above charges are excluding taxes
* Placeholder for disclaimers on Interest and Charges page
 **These are indicative and subject to change at the discretion of lender/ without prior notice.

How is the Personal Loan EMI calculated?

An EMI calculator uses a simple formula to determine your EMI. The formula used is:

E=P*r*(1+r)^n/((1+r)^n-1)

Where ‘E’ is EMI,

‘P’ is the principal loan amount

‘r’ is the rate of interest calculated on a monthly basis

‘n’ is the tenor/duration of the loan

Let us say you borrowed INR 10 lakh as a personal loan from a bank at the rate of 12% for a period of 10 years or 120 months. Then your EMI as per the formula 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, you will end up paying INR 13,34,677. Out of this, INR 3,34,677 will be towards the interest.    

How to use the ‘Personal Loan EMI Calculator’?

Calculating your loan EMI is really a simple process. You need to click on the Personal Loan EMI Calculator on Finserv MARKETS website. After that, all you need to do is to input the following:

  • Personal loan amount

  • Rate of Interest

  • Loan tenure

You will get the amount of EMI that you need to pay for the Personal Loan according to those inputs instantly.

Benefits of a ‘Personal Loan EMI Calculator’

A Personal Loan EMI Calculator helps you to know the monthly amount that you would require to set aside for repayment of loan. Once you are sure that you can meet the EMI payments regularly, you will be able to enter into an agreement with us. You can also negotiate on the rate of interest or the tenure of the loan. This will help you plan your finances easily and more effectively.

Personal Loan repayment schedule

Personal Loan EMI Calculator from Finserv MARKETS includes a repayment schedule. A repayment schedule is a calendar of your periodic payments that you need to do throughout your loan tenure. The schedule separately shows the amount of the principal and interest component in each EMI that needs to be paid.

Personal Loan Interest Rate and Charges

Enjoy most competitive interest rates of Personal Loan with Finserv MARKETS. We have no hidden charges and we believe in complete transparency.

Check out our Personal Loan Interest Rate and charges for detailed list of all the fees.

Are you Eligible for our Personal Loan?

Qualifying for Bajaj Finserv Personal Loan is dependent on your employment status, age and your credit score.

Checkout our Personal Loan Eligibility Criteria to find out if you qualify for a Personal Loan.

Documents required for Personal Loan

For verification purposes, it is necessary to meet the documentation requirements in order to avail a personal loan. We advise you to keep your documents like Identity Proofs (Aadhaar Card and PAN Card) ready for instant approval.

Check out our Personal Loan Documents pages to get a full list of documents necessary to avail a personal loan.

Benefits of Choosing Finserv MARKETS

Personal Loan at Finserv MARKETS offers tailor-made to fulfil all your financial needs. You can enjoy end-to-end online process, minimal documentation and unlimited withdrawals with Hybrid Flexi Personal Loan. Get to know more about the benefits of availing our Personal Loan.

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