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Calculate Bajaj Finserv Home Loan EMI

50000020000000
120
130
Total Payments-

₹5,000,000

Total Interest-
₹0
Principal Amount-
₹5,000,000
Total EMI

₹0

View Details
  • Loan Amount
  • Interest Rate
  • Your EMI
  • Tenure
  • ₹5,000,000
  • 6.8%
  • ₹0
  • 30
Updated:

About 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.

Additional Info: Also check 75 Lakh Home Loan EMI

How to use Bajaj Finserv Home Loan EMI Calculator?

The online EMI calculator is the most accessible tool that is readily available and can help you stay organised and make informed decisions while you take a home loan from the bank.

It is imperative to Calculate your EMI before you take a loan since it is a considerable amount, and a certain amount of interest adds up to it. If you don't plan your EMI beforehand, it can get tricky at times for you to manage your monthly payments during the tenure.

Here are the steps in a chronological manner that you need to follow to operate the Bajaj home loan EMI calculator:

  • When you open the calculator to calculate the EMI, the first thing that you need to select is the loan amount that you intend to take from the bank. It is the principal amount, i.e. the entire loan amount that you want to take from the bank. It depends on your demands, and it directly affects how many monthly EMIs you will have to pay.
  • After selecting the principal amount, he will be asked to select the tenure that you intend to pay your monthly EMI for. Tenure plays a vital role in determining your monthly payments. It can be anything between 5 years to 30 years. Choose a period that fits your affordability.
  • After that, you have to select the Bajaj Finserv Home Loan Interest Rate as per your requirements.

After selecting all these three significant new medicals, tab on the 'EMI details' option on the right side of the calculator to see the result. Your monthly EMI will pop on the screen in a few seconds, along with the principal amount and your total interest rate that is applied by the bank.

Additional Info: Also check Rs. 1 Crore Home Loan EMI

Bajaj Finserv Home Loan Interest Calculator Formula

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. 30 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 6.80% 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. 

Know in detail: Simple Interest Formula Calculation.

Benefits of Bajaj Finserv Home Loan EMI Calculator

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.

Additional Info: You can also Check Banglarbhumi West Bengal Land Record

Why should you use Bajaj Finserv Home Loan EMI Calculator?

Calculating your monthly expenses and payments before taking a home loan is a bright idea. It will save you a lot of trouble that you may face due to your financial condition. Having a chalked out routine before you apply for a home loan will give you a more organised and detailed investment frame to help you make informed decisions.

If you enter a combination of a principal amount, the tenure, and an interest rate, and it doesn't fit your budget, you can go ahead and try to select a longer tenure and a lower loan amount to decrease your monthly EMI.

After you take the loan, you can use the Bajaj EMI calculator home loan and check your remaining balance and track your current status at different points.

Additional Info: You can also Check AnyRoR Gujarat Land Record

Comparison of Bajaj Finserv Home Loan EMI with other Popular Banks

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.

Bank NameLoan amount of 50 LakhLoan Amount of 30 LakhInterest Rate
Bajaj Home Finance32,596/-19,558/-6.80%
SBI32,098/-19,259/-6.65%
HDFC32,264/-19,358/-6.70%
ICICI32,264/-19,358/-6.70%
AXIS32,098/-19,259/-6.65%

For a Loan of 50 Lakh, the interest rate applied by Bajaj Home Finance remains around 6.80%. The payable amount, therefore, turns out to be about 32,596/-

Other leading banks such as the State Bank of India, HDFC Bank, ICICI Bank, and the Axis Bank offer a similar interest rate between 6.50%-6.90%. Go through all the proposed rates and the monthly payment amounts to determine which home loan plan fits your budget and suits your demands. 

Additional Info: Also check Pan Number for Banks

Bajaj Finserv Home Loan EMI Calculator to Estimate the EMI That Fits Your Budget

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.

Loan amount30 years20 years15 years
1 cr65,193/-76,334/-88,768/-
75 lakh48,894/-57,250/-66,576/-
50 lakh32,596/-38,167/-44,384/-
25 lakh16,298/-19,083/-22,192/-

If you choose a short tenure of 15 years, your monthly EMI increases. Similarly, when you select a longer tenure of 20 years or 30 years, your monthly EMI goes down. However, when you increase the tenure, your total payable amount also increases along with it.

Additional Info: You can also avail Navi Home Loan

Factors affecting the Bajaj Finserv Home Loan EMI

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.

Additional Info: SBI Home Loan Customer Care Number

What the Home  Loan EMI calculator cannot tell you

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.

Additional Info: How to get Pradhan Mantri Awas Yojana

Amortization Table

YearOpening BalanceAmount paid by customer (EMI*12)Interest paid during the yearPrincipal paid during the yearClosing Balance

FAQs

✅ Does the Bajaj Finserv Home Loan EMI Calculator give accurate results?

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The online EMI Calculator follows the p*r*(1+r)^n/([1+r)^n]-1) method to ensure it gives you a 100% accurate result. You can see your monthly EMI along with the total interest amount and the total payable amount.

✅ Will the interest rate remain the same during the tenure?

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If you take fixed-rate loans, then your interest rate remains the same during the entire tenure. However, Bajaj Home Finance only offers floating rate loans currently. The rate can change during your tenure, and you will have to pay accordingly. 

✅ What is the EMI for 30 lakh in Bajaj Home Finance?

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Your monthly EMI depends on your selected tenure. For a loan of 30 lakh, you will have to pay around 22,000/- if you choose a tenure of 20 years and about 34,000/- per month if you select a tenure of 10 years.

✅ What is the EMI for 50 lakh in Bajaj Home Finance?

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For a loan of 50 lakh, your monthly EMI will be 38,000/- for a 20-year tenure, 44,000/- for a 15-year tenure, and around 57,500.- for a tenure of 10 years.