Calculate your monthly EMI, total interest, and full amortization schedule for a Bajaj Finserv loan based on the loan amount, interest rate, and tenure.
Bajaj Finserv loan interest rates vary by loan type, tenure, and your credit profile, and are linked to its external benchmark lending rate. Enter your sanctioned or applicable rate — check bajajfinserv.in or your branch for current rates.
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This general-purpose Bajaj Finserv EMI calculator estimates the monthly EMI, total interest, and total repayment for any Bajaj Finserv loan product — including personal loans, business loans, consumer durable loans, doctor loans, or any other term loan. Enter the loan amount, interest rate, and tenure to instantly calculate your EMI and view a full amortization schedule. Bajaj Finserv, through Bajaj Finance Limited (its NBFC lending arm), is one of India's largest consumer and business finance companies, known for its wide product range and digital lending capabilities.
Bajaj Finance uses the standard monthly reducing balance EMI formula for all term loans. Each EMI covers the monthly interest on the outstanding principal plus a portion of the principal, so the interest component reduces each month as the loan is repaid.
Formula: EMI = [P × R × (1 + R)N] ÷ [(1 + R)N − 1], where P = loan amount, R = monthly interest rate (annual rate ÷ 12 ÷ 100), N = total months.
Example: ₹5,00,000 Bajaj Finance loan at 14% per annum (example rate — enter your Bajaj Finance sanctioned rate), 5-year tenure: Monthly EMI ≈ ₹11,634.13. Total interest ≈ ₹1,98,047.53. Total repayment ≈ ₹6,98,047.53. (Note: actual rates vary by loan type and your credit profile.)
Bajaj Finance Limited (BFL), the lending NBFC of the Bajaj Finserv group, is one of India\'s most diversified consumer finance companies, with products spanning consumer durable finance, personal loans, home loans (through Bajaj Housing Finance), business loans, two-wheeler loans, doctor loans, professional loans, and more. BFL is regulated by the Reserve Bank of India as a Systemically Important Non-Deposit Taking NBFC. Unlike banks, Bajaj Finance cannot take public deposits but funds its lending through bonds, commercial paper, and bank borrowings. Bajaj Finance\'s lending rates tend to be higher than public sector banks but competitive with private sector banks, reflecting the NBFC risk premium. The company is known for its zero-cost EMI (No Cost EMI) financing at retail outlets for consumer durables and electronics — a product where the customer pays no interest, with the merchant subsidising the interest cost through a cashback to BFL. For conventional term loans, Bajaj Finance\'s rates range from approximately 11% for secured products to 20%+ for unsecured consumer loans and credit cards. Bajaj Finance\'s Flexi Loan facility — available for personal loans and business loans — allows borrowers to borrow up to an approved limit, repay at their convenience, and re-borrow, paying interest only on the utilised amount. The "pay-as-you-go" nature of Flexi Loans can significantly reduce total interest for borrowers with variable cash flows.
Bajaj Finance Limited offers a very wide range of lending products: personal loans (for salaried and self-employed); consumer durable loans (for electronics, appliances, furniture at EMI); two-wheeler loans; home loans and home improvement loans (through Bajaj Housing Finance); business loans and SME loans; professional loans for doctors, CAs, architects; LAP (loan against property); gold loans; EMI cards; and commercial finance. Bajaj Finance is particularly well-known for its presence at retail stores offering instant EMI finance for consumer electronics purchases.
Bajaj Finance's "No Cost EMI" (also called Zero Cost EMI) allows customers to purchase products at retail stores and pay in monthly instalments without a visible interest charge on the purchase price. The financing cost is effectively borne by the merchant (who provides a subvention to Bajaj Finance). However, there are important caveats: the customer typically pays a processing fee (even on No Cost EMI), the purchase price may be inflated compared to a direct cash purchase, and GST on the processing fee applies. In aggregate, No Cost EMI is not completely free — but the effective interest cost is much lower than a standard personal loan for the same tenure.
The Bajaj Finance Flexi Personal Loan is a revolving credit facility where an approved credit limit is provided, and you draw from it as needed. You pay interest only on the amount drawn, not on the full limit. You can make part-prepayments and re-draw funds within the limit without additional approval. There is a fixed monthly charge (subscription fee) for maintaining the facility. This structure is advantageous for borrowers who need credit on an irregular or periodic basis — the total interest paid can be significantly lower than a standard term loan of the same amount and tenure.
Bajaj Finance typically requires a minimum CIBIL score of 700-720 for personal loan approval, with the best rates and highest loan amounts going to borrowers with scores of 750+. For secured products (home loans, gold loans, LAP), the minimum score requirement may be somewhat lower. For consumer durable EMI financing at retail stores, the threshold may be lower, as these are lower-risk, smaller-ticket items. Bajaj Finance also has internal credit models that consider your repayment history with BFL (existing customers with a good track record may get better terms).
Bajaj Finance is known for fast digital disbursement. Pre-approved personal loans for existing customers can be disbursed within minutes directly to the linked bank account through the Bajaj Finserv app. For new applicants, end-to-end digital personal loan applications can be processed and disbursed within 24-48 hours for clean profiles. Consumer durable loans at retail stores are typically processed in minutes at the point of sale. Home loans and business loans take longer due to property or business verification requirements.
Bajaj Finance generally charges foreclosure and part-prepayment fees on fixed-rate personal and business loans, typically around 2-4% of the outstanding principal (plus GST), often after a minimum lock-in period (usually 6 months or 1 year). For floating rate products (home loans), prepayment is free for individual borrowers per RBI guidelines. For the Flexi Loan, there is typically no lock-in and no prepayment charge — you can pay back at any time. Always check the specific foreclosure terms in your loan agreement or sanction letter.
Disclaimer: This calculator is an independent tool and is not affiliated with or endorsed by Bajaj Finserv Limited or Bajaj Finance Limited. Interest rates, fees, and eligibility shown are examples only. Actual loan terms depend on Bajaj Finance's current rates, your CIBIL score, income, loan type, and product-specific terms. Always verify current rates and charges at bajajfinserv.in before applying.