The personal loan calculator by Bajaj Markets, is a simple online tool, with which you can find out the EMI that you need to pay per month. There are three inputs, which you need to enter to find out the EMI. They are as follows:
It is the loan amount that you want.
This is the amount that a lender charges along with the principal. It is expressed in percentage.
This is the period over which you need to repay the loan.
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 every month
‘n’ is the tenor or duration of the loan
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Loan amount (100000 - 1500000)
Tenure of loans (12 - 60 months)
Rate of interest (18 - 30%)
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The main benefit of the EMI Calculator is that you can calculate the exact amount that you need to pay monthly before actually paying it. This will help you plan your monthly budget accordingly. Also, you can realize as to how much amount that you can set aside for your EMIs and how much for monthly expenses. Check out the Personal loan eligibility criteria to find out if you qualify for the Personal loan from Prefr Partners.
The Personal Loans from Prefr Partners available on Bajaj Markets are custom-made and convenient to all your financial needs. The end to end online process is very smooth and you can proceed with minimal documentation requirements within a few simple steps.