Multiple banks. Different interest rates. Call it a "conflict of interest".
  • Bajaj Finance Personal Loan EMI Calculator is Rated as "Great!" by 1849 Users

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    Bajaj Finance Personal Loan EMI Calculator

    Bajaj Finance Limited is one of India’s most diversified non-banking financial company (NBFC) investing heavily in technology, people, and processes. Bajaj Finserv believes in focussing on both existing as well as new customers. A personal loan serves as a huge financial support in times of need and helps us achieve many goals in life. The personal loan offered by Bajaj Finserv can be availed online with approval in five minutes and disbursal within 72 hours. Bajaj Finance Limited grants personal loans of up to Rs.25 lakh which you can repay within 24 to 60 months.

    How To Use BankBazaar Bajaj Finance Personal Loan Calculator to understand your Personal Loan Repayment

    The Bajaj Finance Personal Loan can be repaid in EMIs (Equated Monthly Installments). EMIs consists of the principal amount along with the applicable interest charges. Before applying for a loan, it is important to understand the breakup as well as the EMI amount. Knowing the exact amount helps you in financial planning as you would be paying this amount as repayment towards the loan over a fixed period of time.

    The Personal Loan EMI Calculator of BankBazaar is a comprehensive tool that helps in determining the instalment amount of the loan. It also gives a detailed breakup of various charges. The online tool uses an amortisation table to give instant output. To use the BankBazaar loan EMI calculator, all you have to do is visit the homepage and click on the drop down menu on the extreme right. From the list, select finance tools and then ‘EMI calculator’. The page prompts you to enter loan details such as loan amount, tenure, and rate of interest, processing fee and whether or not you would like to make pre-payments. Click on calculate to generate the monthly EMI that you will incur towards the loan and other details.

    How does the Bajaj Finance Personal Loan EMI Calculator Work?

    You must enter the loan amount you want to borrow and other details in the online EMI calculator. The formula that the calculator uses is:

    E = P x R x (1+R) ^n/ [(1+R) ^n-1]

    Where, E is the EMI that is required to be paid monthly

    P is the amount to be borrowed

    R is the interest rate on a monthly basis

    n is the loan tenure in months

    Apart from these basic components, the calculator also uses processing fee sometimes to calculate the EMI. It is different at different NBFC as it is typically a certain percentage of the loan amount borrowed from the lender. The processing fees can be anywhere between 1% and 3%.

    Features and Benefits of Bajaj Finance Personal Loan EMI Calculator

    Determination of EMI:

    The online EMI calculator accurately calculates the exact EMI to be paid towards the Bajaj Finance Personal Loan. This enables advance planning of our monthly budget and expenses. Also, the figures from this tool can be used to negotiate with the lender to provide better rates.

    Use of Amortisation Table:

    The amortisation table in the calculator enables generation of a detailed breakup of the principal amount and interest charges required to be paid monthly until the end of tenure. This can also provide assistance for considering and calculating loan repayment terms like pre-closure.

    Finance Charges Details:

    The online tool also displays a pie-chart presenting a breakup of the financial charges towards the loan. Being aware of information such as processing fee and interest charges may help you in attaining a better deal with the NBFC.

    Bajaj Finance Limited Personal Loan Calculator FAQs

    1. Does the Bajaj Finance Personal Loan Calculator give an accurate calculation of the EMI amount?

      Usually, the calculations are done on a reducing balance principal and are almost accurate. However, it may vary from each lender based on the method of calculation.

    2. If I want to pre-close my loan with Bajaj Finserv, can the online calculator be of any use?

      Yes, the calculator allows you a clearer idea of the EMI as it gives a detailed breakup of the same. By using this tool, you can compare the change in interest charges applied on the outstanding loan balance.

    3. Can the same EMI calculator be used to calculate the EMI for loans from other NBFCs as well? Yes, this is a tool that can be used universally by changing the loan details offered by various financial institutions.

    Personal Loan Reviews

    • Bajaj Finserv Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from Bajaj Finance for 2 times as 1L. There is no charges for part payment and foreclosure and it very good am much satisfied since no banks has given this option. I have completed the loan around 3 months. The interest rate is little bit higher 14.4% but I have expected 12% and facilities are very good.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jan 18, 2019
    • Bajaj Finserv Personal Loan
      "Better Loan"
      0.5 3.0/5 "Satisfactory"
      My personal loan was purchased from Bajaj Finserv 1 year back. I have applied the loan amount of Rs. 4 lakhs. I have received the interest rate of 13.5%. I pay the EMI amount of Rs. 9500 every month. I make the premium through ECS. I have got the loan on time. Documentation process was little bit delayed.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 18, 2019
    • Bajaj Finserv Personal Loan
      "Response should be improved"
      0.5 3.0/5 "Satisfactory"
      Earlier I had Bajaj Finserv personal loan now it got completed, they gave me the interest of 18% for 3 years. I closed the loan in last three months through preclosure, there was extra charges around Rs.2500. There is no phone banking hence I used to visit to the branch.
      Was this review helpful? 4
      , chennai
      Reviewed on Jan 10, 2019
    • Bajaj Finserv Personal Loan
      "Very Good Service"
      0.5 5.0/5 "Blown Away!"
      The experience i had with this loan has been good where the process has been simple. The loan amount has been sufficient and the interest rate with them has been nominal as well. There has been some charges which they had made which has been nominal. There has not been any hassle faced with the services of them during the process.
      Was this review helpful? 3
      , gandhinagar
      Reviewed on Jan 10, 2019
    • Bajaj Finserv Personal Loan
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      I have also taken a personal loan with Bajaj Finserv. The customer services are good and they are responsive too. They collected my paper work on time. I also got the loan amount as needed. The rate of interest and processing charges are nominal too.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jan 10, 2019
    • Bajaj Finserv Personal Loan
      "Good options in this loan"
      0.5 5.0/5 "Blown Away!"
      I have taken a Flexi personal loan from Bajaj Finserv. The rate of interest is of 13% plus 1% of processing fee and the customer is allowed to foreclose the loan at any time and there are some charges for the same. The tenure is for five years and the customer is given a loan of minimum 2.5 lakhs to maximum 10 to 15 Lakhs, depending on the credit score and salary drawn. I should pay the interest for the what ever amount I have used out of the overall loan given to me. They have also charged me for a life insurance policy worth 15 lakhs, if anything is to happen to me the loan would be redeemed through this policy.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jan 10, 2019
    • Bajaj Finserv Personal Loan
      "Interest should be reduced as per the market"
      0.5 3.0/5 "Satisfactory"
      I have to run behind the Bajaj Finserv to take the personal loan, they approved the loan on time. But the interest rate is very huge, they charged me around 19% for the loan amount of Rs. 1 lakh but they disbursed the amount around Rs. 91,000 they taken processing and insurance fee.
      Was this review helpful? 2
      , bangalore
      Reviewed on Jan 08, 2019
    • Bajaj Finserv Personal Loan
      "Not satisfied"
      0.5 2.0/5 "Expected more"
      My experience was not good with Bajaj finserv for personal loan, the loan amount was for Rs 50000 with nominal interest rate. Customer support was not up to the mark and there was no proper response. Tenure period for this loan is for 2 years.
      Was this review helpful? 11
      , hyderabad
      Reviewed on Dec 29, 2018
    • Bajaj Finserv Personal Loan
      "Dissatisfactory"
      0.5 1.0/5 "Really Bad"
      For the personal loan of Bajaj Finserv, the interest rate is very high. Next month its going to get expire then I will be the happy customer. Initially they promised less interest but finally they charged huge percentage hence I am fed up with them.
      Was this review helpful? 7
      , hyderabad
      Reviewed on Dec 22, 2018
    • Bajaj Finserv Personal Loan
      "Good Experience"
      0.5 5.0/5 "Blown Away!"
      I am not sure about the interest rate of the personal loan, I have taken the loan nearly one year back with Bajaj Finserv. There are different emi options are good, the loan amount is also sufficient, the process is easy to take the personal loan.
      Was this review helpful? 6
      , hyderabad
      Reviewed on Dec 18, 2018
    • Bajaj Finserv Personal Loan
      "Good Experience"
      0.5 5.0/5 "Blown Away!"
      Without any paper works my personal loan got sanctioned, I approached them based on my previous experience. I have taken some durable loans. The interest rate for personal loan is moderate and they sanctioned the loan with in 24 hours, they have part and preclosure options.
      Was this review helpful? 5
      , chandigarh
      Reviewed on Dec 18, 2018
    • Bajaj Finserv Personal Loan
      "7 months before, i have purchased my personal loan with Baja"
      0.5 1.5/5 "Bad"
      7 months before, i have purchased my personal loan with Bajaj Finserv. Everything is fine with bajaj except their interest rate since its huge. They have offered me a interest rate of 14.5% and other charges of Rs. 500. I have applied the loan amount of rs. 80000 and they have sanctioned the loan amount of Rs. 74000 by deducting the processing fee. I pay the EMI of Rs. 3223. I selected the the tenure period of 48 months.
      Was this review helpful? 7
      , pune
      Reviewed on Dec 17, 2018
    • Bajaj Finserv Personal Loan
      "Not satisfied"
      0.5 2.0/5 "Expected more"
      My experience with Personal loan from Bajaj finserv was not good, the loan amount was for Rs 1.25 lacs with high interest rate when compared to others. Charges and interest rate are very high on this loan and they charge 4% as preclosure charges. Customer support was not up to the mark.
      Was this review helpful? 11
      , bangalore
      Reviewed on Dec 14, 2018
    • Bajaj Finserv Personal Loan
      "Not satisfied"
      0.5 2.0/5 "Expected more"
      Bajaj finance is not giving that much good service for the financial service , where i have been trying to pre close my loan , where they have given high rate of interest with processing fees of 2% . I had to do follow ups for in order to receive the Noc .
      Was this review helpful? 14
      , mumbai
      Reviewed on Dec 13, 2018
    • Bajaj Finserv Personal Loan
      "Helpful loan for the business people"
      0.5 5.0/5 "Blown Away!"
      There is a pre-closure charges of 2% and we can make the partial payment at any time after six months. Again they have given me a offers once i pay the loan perfectly. There is a pre-closure charges of 2% and we can make the partial payment at any time after six months. Again they have given me a offers once i pay the loan perfectly. I have purchased the loan amount of Rs. 4.5 months. Total tenure period of the loan is 36 months and 12 months got over. Rate of interest was 14.50% and i got the loan in offer day hence there is no processing fee. The same day collection executive came to my place collected all the documents and sanctioned the loan on same day.
      Was this review helpful? 6
      , bangalore
      Reviewed on Dec 11, 2018
    • Bajaj Finserv Personal Loan
      "AVERAGE"
      0.5 3.5/5 "Pretty good"
      The rate of interest is very higher with this BAJAJ FINSERV where i a have take the personal loan with them and using it from past 2 years. The loan amount is satisfactory. They have the option of part payment also the process is good and easy.
      Was this review helpful? 3
      , hyderabad
      Reviewed on Dec 11, 2018
    • Bajaj Finserv Personal Loan
      "Very Good loan experience"
      0.5 4.0/5 "Great!"
      I have purchased my personal loan with Bajaj in June 2018. I have got the loan amount of Rs. 3.67 lakhs. I'm satisfied the interest rates which is 19.25% however its quite high. I have been paying the EMI of Rs. 13400 every month. The amount will be auto debited from my account. I have selected the tenure period of 3 years. Fast process and easily available loan.
      Was this review helpful? 6
      , amravati
      Reviewed on Dec 11, 2018
    • Bajaj Finserv Personal Loan
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      I had taken this loan almost four years back and the loan amount which they had provided has been sufficient. The interest rate with them has been around 18% which was quite high and there has been a processing fee of 8% which was charged by them.
      Was this review helpful? 7
      , bangalore
      Reviewed on Dec 10, 2018
    • Bajaj Finserv Personal Loan
      "ROI and charges are high"
      0.5 5.0/5 "Blown Away!"
      I had my personal loan with Bajaj Finserv earlier and since they were higher on the rate of interest and processing charges I transferred my loan to another bank. The interest rate of around 12%. Though they provide the loan when in need, they still need to work on the interest and charges when compared with other banks.
      Was this review helpful? 6
      , hyderabad
      Reviewed on Dec 09, 2018
    • Bajaj Finserv Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      It was a very good experience i had with this loan, the loan amount whcih they had provided has been sufficient and the interest rate was around 14% which has been nominal. There has been some processing fee charged by them and the customer support has been helpful as well.
      Was this review helpful? 6
      , hyderabad
      Reviewed on Dec 07, 2018
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