LOANS

INSURANCE

INVESTMENTS

CARDS

eStore

Discover

MY OFFERS

CUSTOMER PORTAL

ABOUT US

CONTACT US

Avail Instant Personal Loans ✓ Loan up to 50 Lakhs ✓ Quick Disbursal ✓ Minimum Documentation!

EMI Calculator for Personal Loan from PaySense Partners on Bajaj Markets

When you plan to avail a loan, it is extremely important to be aware of the EMIs and manage your monthly expenses. Calculating your EMIs prior to availing it will help you keep a certain portion of income as installments that need to be paid. Personal Loan EMI Calculator available on Bajaj Markets will help you calculate the EMIs that need to be paid, without any manual efforts and help you keep a track of finances better.

Personal Loan EMI Calculator on Bajaj Markets

 

Personal Loan EMI can be calculated through the Personal Loan EMI Calculator. You need to enter the following details:

  1. Loan amount: It is the amount that you want to borrow.

  2. Repayment tenure: It is the time period through the course of which you will repay the loan. 

  3. Interest rate: It is the amount that you need to pay in addition with the principal loan amount.

After you type the details, you will get the required EMI amount that would be payable by you.

In general, Personal Loan EMI is calculated by the following formula:

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 (monthly)

‘n’ is the repayment tenure

Benefits of Checking Your EMI in Advance

Here are the benefits of checking your EMI in advance:

  1. It gives a sense of how much amount you can avail as a loan.

  2. You can manage your finances better.

  3. It will help you plan for part payments, as well in case you choose to part-pay your loan.

  4. Calculating your EMI online will help you save a lot of your time and effort.

Also read in detail about features and benefits of personal loan.

Documents Required for Personal Loan offered by PaySense Partners

In order to avail the Personal Loan offered by PaySense partners, on Bajaj Markets, the following documents must be submitted:

  1. Identity Proof: PAN Card

  2. Permanent Address Proof: Aadhaar Card/Voter ID/Passport/ Driving License

  3. Current Address Proof: Aadhaar Card/ Voter ID/ Passport /Rent Agreement/ Electricity Bill/ Water Bill/ Landline Bill / Passbook/ Gas Pipeline receipt/ Mobile Postpaid Bill

  4. Photograph(selfie)

Now that you have gained information about calculating the EMI conveniently through the EMI calculator online, it’s time to apply for a Personal Loan at Bajaj Markets, facilitated by PaySense partners. You can avail a loan of up to Rs. 5 Lakhs and enjoy benefits like a smooth online process, minimal documentation, no collateral requirements, flexible repayment tenure and much more.

Frequently Asked Questions on Personal Loans

✔️How can I pay my Personal Loan EMI?

You can pay your Personal Loan EMI through net banking, debit card, wallet or auto-debit as well. 

✔️How is EMI interest calculated?

EMI interest will be calculated based on the principal loan amount, repayment tenure, credit score, etc.

✔️What is the difference between fixed and floating interest rate?

With fixed interest rates, you’ve stable or fixed instalments to repay over the tenure. In case of floating interest rate, the EMI value changes as per MCLR (Marginal cost of funds-based lending rate).

✔️How can I reduce my loan EMI?

Your loan EMI can reduce with a decrease in the loan amount and an increase in the repayment tenure.

✔️What are the factors affecting personal loan EMI?

Loan amount, repayment tenure, interest rate, CIBIL score affect personal loan EMI.