Total EMI


Total Interest


Total Payments


Break-up of Loan Amount
Created with Highcharts 4.2.2 50,00,000 69,80,559 Total Interest Principal Loan Amount
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About Bajaj Finserv Home Loan

Bajaj Finserv is a renowned non-banking financial company engaged in the business of providing various types of loans, including Home Loans and personal loans. Bajaj Finserv offers Home Loans to both salaried and self-employed individuals at attractive rates of interest. The Company has an exclusive Home Loan product to cater to medical professionals, as well. Customers can avail Home Loan for varying purposes such as purchase or construction of house and repairs and renovations. Home Loan Balance Transfer is also available with Bajaj Finserv. The Company is an active participant in PMAY, Affordable Housing Scheme for all.

Bajaj Finserv Home Loan EMI Calculator

Bajaj Finserv has always prided itself on offering the best technology to its customers. The Company has an array of Home Loan calculators on its official website. The Home Loan EMI Calculator is a popular tool that helps its customers to determine the exact liability.

Customers can use the Bajaj Finserv Home Loan EMI Calculator for various reasons, like:

  • It helps to calculate the Home Loan EMI (equated monthly instalment)
  • This calculator makes it possible to determine the amortisation schedule for the Home Loan for the entire loan repayment tenure.
  • The calculator also offers insights into the total amount of interest payable on the Home Loan

How to Use the Bajaj Finserv Home Loan EMI Calculator?

Customers can calculate their Home Loan EMI in three simple steps using the Bajaj Finserv Home Loan Calculator:

  • Enter the loan amount
  • Submit the details of the loan repayment tenure
  • Enter the rate of interest on your Home Loan

You get the following information instantly:

  • The total amount of interest payable on the Home Loan for the entire loan tenure
  • The full repayment including the principal and interest amount
  • Your EMI

Other Home Loan Calculators

Home Loan Balance Transfer/ Top Up Calculator: Helps determine the balance transfer amount. Besides calculating your eligibility for the top up loan, this calculator also helps to determine the amount you save on transferring the balance to Bajaj Finserv.

Home Loan Eligibility Calculator: This calculator enables customers to determine the maximum Home Loan eligibility depending on their income and other obligations.

Debt Consolidation Calculator: Using this calculator, customers can consolidate all their loans into one. It becomes easy for the customer to repay the EMIs. Debt consolidation enables you to combine different loans into one and repay the same with a single EMI.

Part Pre-payment Calculator: If you have a substantial amount on hand, you can prepay your Home Loan by paying a lumpsum amount into the account. It can help either reduce the EMI or the repayment tenure. The pre-payment calculator helps to determine the amount of money you save by prepaying the loan amount.

Foreclosure Calculator: The Home Loan foreclosure calculator helps to determine the amount needed to foreclose the Home Loan. This calculator also provides information about the overall interest you save in the bargain.

The Home Loan EMI Concept

EMI stands for Equated Monthly Instalment. It is the ideal way of repaying the Home Loan. The Home Loan EMI comprises of two components, the principal repayment constituent, and the interest part. There are variable figures that change every month. In case of regular repayment of the Home Loan EMI, the interest component keeps reducing every month. Automatically, the principal repayment portion increases accordingly.

Factors That Affect the Home Loan EMI

Three factors affect the Home Loan EMI:

  • Principal Loan Amount: The principal loan amount is directly proportional to your Home Loan EMI. Higher the loan amount more is your EMI.
  • Rate of Interest: The rate of interest on the Home Loan determines your EMI. It is also in direct proportion to your EMI. Your Home Loan EMI and rate of interest move in the same direction.
  • Loan Repayment Tenure: The repayment tenure is inversely proportional to your EMI. The longer the repayment tenure, the smaller will be your EMI amount.

The table below will explain the effect of these three factors on your Home Loan EMI:

  • Loan amount: 1 Lakh
  • Rate of interest: 8.60% per annum


Loan Repayment Tenure

5 Years

10 Years

15 Years

20 Years






Total interest payable





Total repayment





Bajaj Finserv Home Loan EMI Calculator - Points to Note

  • The longer the repayment period, the lower is the EMI amount. In this case, the EMI for 20 years works to 874, whereas the EMI for a 5-year repayment period is 2,056.
  • The interest payable increases with an increase in the loan repayment tenure

Home Loan EMI for Varying Loan Amounts

  • Let the loan amounts range from 10 Lakhs to 50 Lakhs
  • The rate of interest remains the same for calculation, i.e., 8.60%

Principal Amount

Loan Repayment Tenure

5 Years

10 Years

15 Years

10 Lakhs




15 Lakhs




25 Lakhs




35 Lakhs




40 Lakhs




50 Lakhs




  • As you increase the loan repayment tenure, the Home Loan EMI reduces considerably
  • The EMI increases with an increase in the Home Loan amount
  • This calculator can also help to calculate the affordability of your Home Loan. You can opt for extended repayment tenure when you are young. It allows you to settle for a bigger amount of loan.

Alternate Methods of Calculating Your Home Loan EMI

MyMoneyMantra offers facilities to calculate your Home Loan EMI with ease

  • Access the official website of MyMoneyMantra
  • Go to Financial Tools
  • Select EMI Calculator
  • Enter the necessary data like loan amount, rate of interest, and loan repayment tenure in months.
  • Click on the Calculate option to get the loan EMI, interest payable, and the total amount payable on the Home Loan.

Mathematical calculation of your Home Loan EMI

The mathematical formula for calculation of your Home Loan EMI is as follows:

EMI = [P X R X (1+R)^N] / [(1+R)^N-1]

  • P = The Principal loan amount
  • N = Number of monthly instalments (loan repayment tenure in months)
  • R = Rate of interest per month If the rate of interest is 8.60%, then R = 8.60/1200

EMI calculation using MS Excel tables

The function for calculating EMI in MS Excel is PMT. The variables are the same, rate of interest, loan repayment tenure, and principal loan amount.

  • Rate: Rate of interest monthly (If the rate of interest is 8.60%, then Rate = 8.60/1200)
  • NPER: Loan repayment tenure in months
  • PV: Loan amount or the Present Value of loan

Formula = PMT (rate, nper, pv)

The answer will come in a red colour indicating the cash outflow for the borrower.

Advantages of Knowing Your Home Loan EMI

It is always better to calculate the Home Loan EMI in advance before you apply for your Home Loan. The benefits of doing so are many, including the following:

  • It helps you determine the monthly liability so that you could plan your finances better
  • The EMI Calculator enables you to know your affordability. If you can afford a higher amount every month, you can settle for a bigger loan.
  • The EMI Calculator helps you decide the loan repayment tenure. An extended tenure can help to go for an enhanced loan amount.
  • The loan amortisation schedule that comes with your EMI Calculator gives you the monthly outflow over the entire loan repayment tenure.
  • It also helps to calculate the overall interest payable on the Home Loan for the entire loan tenure.
  • Knowing your EMI in advance is a sound budgeting tool

Effect of Rate of Interest Changes on the EMI

Usually, customers opt for floating rates of interest Home Loans. Hence, one can expect a change in the rate of interest every six months or so. It depends on the interest rate reset frequency adopted by the financial institution.

  • Ideally, an increase in the rate of interest should result in the EMI moving in the upwards direction. However, financial institutions and banks prefer to increase the loan repayment tenure while keeping the EMI constant.
  • Similarly, the EMI can go down with a reduction in the interest rate. If the financial institution opts to maintain the EMI constant, the loan tenure can reduce.

Effect of Part Payments on the EMI

Part payments are common occurrences in Home Loans. Customers prefer to make payments in a lumpsum if they have excess funds on hand. Under such circumstances, it can affect your Home Loan EMI.

  • As you make a lumpsum payment, the Home Loan principal outstanding amount decreases considerably.
  • Customers can now opt to retain their existing EMI repayment and shorten the loan tenure
  • Alternatively, they can maintain their tenure as constant and reduce the EMI accordingly
  • The Home Loan Prepayment Calculator helps you to determine the ideal option.

Home Loan Pre-EMI Concept

The Pre-EMI factor is present in partially disbursed Home Loans. Bajaj Finserv disburses Home Loans in instalments depending on the requirements, especially in the case of loans for construction. Under such circumstances, the EMI will start from the month following the date of the final disbursement. Until then, the borrower has to service the interest monthly. This amount is the pre-EMI amount. Paying the Pre-EMI amount ensures that the loan liability is equal to the total loan disbursed on the day of commencement of the EMI.

Effect of Home Loan EMI on Income Tax

Home Loan repayments allow individuals to claim benefits in income tax.

  • Section 24 of the IT Act deals with interest repayment. Individuals can claim IT benefits up to 2 Lakhs on repayment of interest of the Home Loan.
  • Sec 80C provides benefits up to 1.50 Lakhs on the principal repayment portion

You get the breakup of interest and principal repayment from your financial institution. The financial institution has to issue a certificate to this effect annually.

Bajaj Finserv Home Loan EMI Calculator - FAQs

Is it mandatory for me to avail of a Bajaj Finserv Home Loan to be able to use the Bajaj Finserv Home Loan EMI Calculator?

No, anyone can use the Bajaj Finserv Home Loan EMI Calculator. It is always beneficial to know your EMI in advance, as it helps to decide on your affordability quotient.

Does the Bajaj Finserv Home Loan EMI Calculator provide accurate information?

It depends on the input data you provide. If you give the right data, you get accurate results. However, the actual EMI offered by the Company could differ slightly because of other charges like processing fees, insurance, and so on.

Bajaj Finserv has provided me with an amortisation table. What is the significance of this calculation?

The amortisation table provides complete information on the loan repayments over its entire tenure. The schedule contains the principal repayment and interest repayment breakup for the loan tenure.

Will the amortisation schedule change with a variation in the interest rate?

Yes, the amortisation schedule is for a specific loan amount, rate of interest, and loan repayment tenure. A variation in any of the three factors can bring about a change in the amortisation schedule.

The amortisation schedule shows that the interest component is not the same every month. Why is it so?

Your Home Loan EMI comprises of interest repayment and principal repayment components. In the initial stages, the principal amount is high. Hence, the interest component is considerably more than the principal repayment component. As you keep repaying your loan instalments, the principal amount keeps reducing. Thus, the interest component decreases with a corresponding increase in the principal repayment component.

How does Bajaj Finserv calculate interest on my Home Loan?

Bajaj Finserv calculates interest on the reducing balancing method. It implies that the payments you make first go towards nullifying the interest amount. The balance amount available after the interest repayment goes towards reducing the principal outstanding amount.

Can you calculate the pre-EMI amount using the EMI Calculator?

No, the EMI Calculator is useful for calculating the EMI amounts alone.

How do you calculate the pre-EMI amount?

Calculating the pre-EMI amount is easy. It is a simple interest calculation. Alternatively, you can ask Bajaj Finserv for the pre-EMI amount. Usually, the Company sends you an SMS regarding the same.

Will part payment affect the EMI?

Making a part payment results in reducing your overall loan liability. Hence, your interest component reduces proportionately. The borrower has the option of reducing the EMI or maintaining it as constant.

In the event of variation in the interest rate, is it beneficial to change the EMI or the loan tenure?

If there is a downward swing in the interest, it is better to maintain the EMI as constant and reduce the loan tenure. In the opposite scenario, it is advisable to keep the loan tenure as constant while increasing the EMI.