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

How is the Personal Loan EMI Calculated?

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:

  • Loan Amount

It is the loan amount that you want.

  • Rate of Interest

This is the amount that a lender charges along with the principal. It is expressed in percentage.

  • Loan Tenure

This is the period over which you need to repay the loan.

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 every month

‘n’ is the tenor or duration of the loan

Use our Personal Loan Calculator to calculate your EMI instantly

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Loan amount (100000 - 1500000)

Tenure of loans (12 - 60 months)

Rate of interest (18 - 30%)

CALCULATE NOW

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What are the Benefits of a ‘Personal Loan EMI Calculator’?

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.

Benefits of Choosing Bajaj Markets for Personal Loan

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.