Bajaj Finance Home Loan EMI Calculator

When it comes to calculating the monthly installments of your home loan, you need not to worry as Bajaj Finance Home Loan EMI Calculator is there to help. Yes, this magical tool with its smart algorithms gives you the exact calculations related to your EMI, Interest Outgo and Total Amount Payable towards a loan. It is easy to use it in order to know the exact calculations of your home loan EMIs

EMI Calculator for Home Loan
Loan Amount (₹)
Interest Rate (%)
Tenure(year)
Results
Loan Amount
Interest Rate
Tenure(Months)
Monthly Instalment (EMI)
Total Interest Amount
Total Amount (Principal + Interest)
Year Principal Interest Balance Amount

The device takes into consideration:

  • Loan Amount
  • Tenure
  • Interest Rate

The moment you feed these values into the device, it will start functioning and fetches the accurate results for you in just a few seconds. Not only this, it is easily available online and allows you to know your home loan EMIs in the least time frame.

Bajaj Finance Home Loan EMI Calculator

Let’s just understand the concept of the same with the help of an example below.

Suppose, Raman Dixit, a 30-year-old, Interior Designer by profession is looking for a home loan of 30 Lakh in Mumbai. Thus,he has applied for the same and the bank has also agreed to offer him the same loan amount at an interest rate of 8.35% for a tenure of 20 years. Before availing the loan, Raman wants to know the exact amount of his monthly installments, thus he used a home loan EMI Calculator. So, let’s find out the EMI and Interest Outgo in Raman’s case.

Table Showing EMI, Interest Outgo, and Total Repayment Amount

Loan Amount Interest Rate Tenure Monthly Instalment Total Interest Amount Total Amount

EMI, Total Interest Outgo, Total Repayment (Interest + Principal)

Year Principal Interest Balance Amount

Bajaj Finance Home Loan EMI Calculation Formula

The calculator uses the below formula to calculate an EMI.
EMI = [P x R x (1+R)^N]/[(1+R)^N-1]
where,
EMI = Equated Monthly Installment
P = Principal Loan Amount
R = Monthly Interest Rate
N = Number of Monthly Installments

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EMI Calculator