Plan your Domestic Trip through Bajaj Finance Personal Loan EMI Calculator

Want to explore major cities within India but the paucity of funds don't allow you to make this happen? Look for Bajaj Finance Personal Loan which helps you to prioritize your budget in the form of monthly instalments you have to repay so as to plan out your domestic tour. Personal loans from Bajaj Finance are unsecured loans which get instantly  transferred in your bank within 72 hours and that too comes along with minimal documentation processes and friendly assistance from their financial representative.

Now you may be able to keep aside some portion from your monthly intake salary for repaying EMIs instead of bearing a huge burden for settling down your instalments which could  happen in no time. With the help of Bajaj Finance Personal Loan EMI Calculator, you can see how much monthly instalments you can afford along with the interest outgo. This way you can plan constructively for your tour without falling short of budget. Let's find out your eligibility criteria before tracking your affordability amount.

Bajaj Finance Personal Loan Eligibility

The borrowers need to comply with Bajaj Finance Personal Loan Eligibility in order to get sanction for their personal loans:

• The age limit of the borrower should be in between 25-53 years.
• The borrower needs to be a salaried employee by profession.
• The net monthly income of the borrower should be average ₹  35,000 (Varies subject to the location and employer)
• The minimum net salary need to be ₹ 40,000 per month for cities such as Ahmedabad, Bangalore, Chennai, Coimbatore, Delhi, Faridabad, Ghaziabad, Gurgaon, Hyderabad, Kolkata, Mumbai, Noida, Pune, Surat, Thane
• The minimum net salary needs to be ₹ 35,000 per month for cities such as Chandigarh, Cochin, Jaipur, Nagpur

The minimum net salary needs to be ₹  30,000 per month for cities such as Aurangabad, Baroda, Bhubaneswar, Indore, Madurai, Mysore, Nasik, Trivandrum, Vijayawada, Vizag.

Bajaj Finance Personal Loan Interest Rates

The lowest personal loan interest rate starts from  12.75% p.a. for loans upto ₹  25 lakhs. There are additional charges which also need to be rendered on your personal loans such as processing fees, EMI bounce charges, penal interest, and security fee(only for online). These are essential to be incurred as a payment towards your personal loan.

Bajaj Finance Personal Loan EMI Calculator

Bajaj Finance Personal Loan EMI Calculator works on three main criteria-the loan amount availed, tenure of the loan and the rate of interest being charged by the lender. Just enter these three parameters in order to determine your EMI amount payable every month.

Use the following formulae to calculate EMI for Bajaj Finance personal loans

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

where,  EMI-Equated Monthly Instalment

P - Principal Loan Amount

R - rate of interest calculated on a monthly basis

N - tenure/duration of the loan

For example : Mr Dubey has availed a personal loan from Bajaj Finserv for the amount of ₹ 8 lakhs to go on an adventurous trip to Jim Corbett, Nainital. Also, wish to explore other major cities of south India such as Ooty, Mysore, Trivandrum, and Kanyakumari. He wants to know  the amount of his equated monthly instalment which would be going towards financing his trip. The rate of interest offered by Bajaj Finserv is 12.75% p.a. and he has to repay within 5 years time. So, the calculation of EMI along with interest outgo as well as the total amount for the year will be :

EMI = ₹ 18,100

Total Interest Amount= ₹ 2,86,014

Total Amount(Principal +Interest) = ₹ 10,86,014

Documents Required for Bajaj Finance Personal Loan

1. KYC Documents:

• Identity proof(Any one of the below)

• Passport / Voters ID card / Driving license / PAN card

• Address proof(Any one of the below)

• Passport / Driving license / Ration card / Latest mobile bill / Letter from employer (with HR / Admin sign)

2. Salary slips of the last 2 months

3. Salary account bank statement of the last 3 months

4. Employee ID card to furnish as employment proof

Bajaj Finserv Personal Loan Login

To apply for Personal Loan online, fill your details in the online application form which includes your mobile number, date of birth, your name, PIN code, residence city, office email, your current employer, latest March 2017 salary,  PAN Card number and submit your details. Later on, Bajaj Finserv & its representative will either call you or SMS you with respect to your application towards your personal loan.