Bajaj Finserv Home Loan EMI Calculator

Using an EMI calculator before taking a big loan can save you from a lot of trouble in the long run. Before buying your dream home, make sure you take an organised decision and make no mistake that can create financial issues in the future. Planning Your expenses and investments beforehand is always a brilliant idea. Using a Home Loan EMI Calculator is the fastest and the most feasible method when it comes to calculating your EMI before taking the loan.

Bajaj Finance home loan EMI calculator can help you make an informed decision before you take a home loan from the bank.

If you are wondering how to go about the procedure, here is all the information regarding the online EMI calculator that will help you while you take a loan in the future.

You can also Apply for Bank of India Home Loan and check EMI, Interest rate and Eligibility Online to avail offer.

The formula that the home loan EMI Calculator Bajaj Finserv follows is p*r*(1+r)^n/([1+r)^n]-1).

Here, the N stands for the selected tenure. As long as the Bajaj finserv bank is concerned, the maximum tenure that they offer is 360 months, i.e. 32 years.

The R stands for the rate of interest that you will have to pay on a monthly basis. Bajaj home finance currently offers around 7.45% - 18.00% interest for Home Loans.

The P here stands for the entire loan amount, i.e. the principal amount. It can be anything between 10 lakh to 50 lakh as per your requirements.

With the help of this formula, the home loan EMI calculator Bajaj gives you a 100% accurate result and helps you prepare your expenses in advance before you take a home loan. 

You can also know in detail about Simple Interest Formula Calculation.

If you intend to apply for a home loan soon, the online EMI calculator is the fastest and the best tool that you can use to calculate your EMI beforehand. As long as the Bajaj Finserv Home Loan EMI calculator is concerned, it makes your experience way better and feasible in the long run.

Here are the benefits of using the online calculator before you apply for a home loan:

• You do not need to visit the bank or meet any professionals to calculate your EMI before you apply for a home loan. With the help of the online calculator, you will be able to calculate and plan your EMI fully before taking the loan. It is an online tool that will require around five seconds to show you the exact amount that you will have to pay on a monthly basis after taking the loan.
• With the help of the formula, the online calculator gives you a 100% accurate result. You do not have to worry about the authenticity of the result ever during the process since it is the exact amount that you can rely on.
• Even after taking the loan, you can use the EMI calculator to check the remaining balance of your account and the rest of the amount that you need to pay.
• You also have the option of trying different combinations of the principal amount, interest rate, and tenure to see and select the best possible plan that suits your demands and fits your budget at the same time.

You can also Check the Features and Benefits of LRD Loan.

While you try different combinations to choose the best plan for you, it is also essential to go through the interest rates of other contemporary popular banks to determine whether or not you are making the best decision for yourself.

Take a look at the chart to refer to different interest rates for different principal amounts offered by several popular banks in India.

For a Loan of 50 Lakh, the interest rate applied by Bajaj Home Finance remains around 7.45% - 18.00%. The payable amount, therefore, turns out to be about 34,359/-

Other leading banks such as the State Bank of India, HDFC Bank, HSBC Bank, and the IDFC Bank offer a similar interest rate between 8.45%. Go through all the proposed rates and the monthly payment amounts to determine which home loan plan fits your budget and suits your demands.

Check Best Home Loan Interest Rates starting @7.45% - 18.00% from different banks and NBFCs.

It is vital to understand if the selected home loan plan fits your budget before you apply for a loan. Otherwise, it may create financial problems for you in the future during your tenure. 

Even when you are calculating your EMI by using the Bajaj finserv home loan EMI calculator, it is essential to try different principal amounts along with several tenures to check if you are selecting the right plan that goes with your demands.

Go through the chart to understand the different home loan plans offered by Bajaj Finserv.

If you choose a short tenure of 15 years, your monthly EMI increases. Similarly, when you select a longer tenure of 20 years or 32 years, your monthly EMI goes down. However, when you increase the tenure, your total payable amount also increases along with it.

You can also check Loan EMI through SBI Home Loan EMI Calculator

The EMI installment is paid monthly over a prolonged period of time. Therefore, it should not be too high or too low. Too high EMI will impose undue financial stress while too low EMI will make the duration of the home loan long, making the home loan expensive. The following steps can prove effective while deciding an ideal amount of EMI installment:

Make sufficient down payment: The principal amount of the home loan should be the lowest. Make sufficient arrangements for down payment before applying for the home loan. Alternatively, for high value properties go in for merging two or more smaller properties than applying for a high value home loan.

Calculate your current liabilities: The new EMI bill will add on to the current expenses and liabilities. Therefore, it is important that the home loan EMI value should be evaluated and assessed before going in for a long term obligation. In no case should the EMI bill make your financial standing stressful.

Check eligibility: The amount of home loan that Aditya Birla Housing Finance will scantion will depend on the purpose of loan, location of property, cost of property, etc. So go in for an Home Loan Eligibility check to know the loan limit and make sufficient arrangements to fund the margin money.

You can also check Loan EMI through Loan Against Property EMI Calculator

EMI calculator is a potent and important financial tools used nowadays. It allows the user to get a fair idea of the EMI value corresponding to the principal amount. The EMI calculator feature is available online on MyMoneyMantra. User-friendly design and easy navigation makes use of online EMI calculator simple and hassle-free. The results are 100% accurate and reliable.

In addition to this, users can benefit from the use of MyMoneyMantra home loan EMI calculator in the following ways:

24/7 Access: MyMoneyMantra is an online portal. Its features and services are available online. Therefore, the same can be used any time as per convenience.

Easy to use: The output generated by the online home loan EMI calculator is mechanical, based on a mathematical formula. It works like a normal calculator wherein the user has to key in the values for the required parameters - loan amount, loan tenure and rate of interest to generate results.

Efficient and time saving: The online, anytime feature of the home loan EMI calculator on MyMoneyMantra makes it extremely efficient and time saving tool. It can be used without the hassle of visiting bank branches or scheduling appointments with sales representatives to get the best deal. 

Reliable Results: Home loan EMI calculator on MyMoneyMantra involves no complex calculations that are to be performed manually. Thus, there are no chances of human error.

Wide-scale Use: the home loan EMI calculator is used for ascertaining home loan EMIs. In addition to this, it can be used to calculate EMI value of any kind of loan like care loan, personal loan, etc.

Aids in financial planning: once the user is aware of the outflows corresponding to the principal amounts, he can take a clear and informed decision to execute the plan. Comprehensive information without any personal bias helps the customer take healthy financial decisions.

Additional Info: Also check ICICI Home Loan EMI Calculator

There are only three factors that affect your monthly EMI directly. You have to try different combinations to select the right plan for you before you apply for a home loan at any bank. The three things that affect your monthly payable EMI directly are mentioned below.

• Interest rate is one of the major determining factors of EMI rates. When the interest rates remain on the higher side, the EMI automatically increases by the end of the tenure. Before taking a home loan, go through all their plans to determine which plan is the ideal one for you.
• The principal loan amount also has a huge role in calculating your EMI amount after you take a home loan. Your monthly payable EMI amount automatically increases when the loan amount is on the bigger side, and the tenure is short. Interest rates also increase when the loan amount is on the bigger side.
• The tenure you choose before applying for a home loan also plays a significant role in determining how much you will have to pay by the end of every month. The shorter the tenure is, the more you will have to pay on a monthly basis. The longer the tenure is, the less you will have to pay monthly. However, when you select a longer tenure of 20 years- 30 years, the entire payable amount also increases along with it.

These are the things that directly affect your monthly EMI after you take a home loan. Try checking different plans before applying for one at the Finance Finserv Bank.

The Bajaj Home Loan EMI Calculator is the fastest tool to check your EMI beforehand. It comes with a lot of benefits that you can enjoy by using this tool before taking a loan. However, there are a few things that cannot be determined by the online calculator.

• The first thing that the calculator fails to tell you is whether or not the interest rate will change in the future after you take the loan. Most popular banks like the UCO Bank, the SBI, along with other reputed banks, only offer floating rate home loans which means the interest rate may go up during your selected tenure after taking the loan. However, it may create an inconvenience for some people since the calculator cannot determine the increased interest amount beforehand.
• Even if you have the entire amount to repay the rest of your loan amount in the middle of your tenure, you will be charged around 2%-3% penalty charges for making prepayments. This is a factor that the online EMI Calculator cannot determine.
• You may end up losing a lot of opportunities due to your financial status in the future during your tenure. It is not something that the EMI calculator can determine before you take a home loan.

You can also check Home Loan EMI through Loan Prepayment Calculator