How is Bajaj Finance EMI calculated?

How is Bajaj Finance EMI calculated?

For example, if you apply for a Bajaj Finserv Personal Loan of Rs. 1 lakh at a rate of interest of 14% p.a. and for tenor of 2 years, your EMI will be calculated as under: EMI = 100000* 0.01167 * (1+ 0.01167)^60 / [(1+ 0.01167)^60 ] -1 which is Rs. 2,327.

What is the EMI for bike loan?

How does the Two-Wheeler Loan EMI Calculator Work?

Loan amount (Rs.) Interest rate (Mean) EMI for 4 years (Rs.)
50,000 11.10% 1,295
1 Lakh 11.10% 2,589
2 Lakh 11.10% 5,179
3 Lakh 11.10% 7,768

What is the interest rate for two-wheeler loan in Bajaj Finance?

11.20% onwards
Bajaj Auto Finance Two Wheeler Loan Interest Rates

Interest Rates IRR – 11.20% onwards*
Maximum Repayment Tenure Upto 12-36 Months*
Processing Fees 1% onwards

What is 2 wheeler interest rate?

Two-Wheeler Loan Interest Rates 2022

Bank Interest Rate Processing Fee
HDFC Bank 14.50% p.a. onwards 2.5% of the loan amount
Punjab National Bank 9.55% p.a. onwards 0.5% of the loan amount subject to Rs.500 to Rs.1,000
Union Bank of India 10.80% onwards Contact the bank
Axis Bank 12.00% to 23.00% p.a. 2.5% of the loan amount

How is EMIs calculated?

The mathematical formula to calculate EMI is: EMI = P × r × (1 + r)n/((1 + r)n – 1) where P= Loan amount, r= interest rate, n=tenure in number of months.

How do I calculate monthly installment?

The mathematical formula for calculating EMIs is: EMI = [P x R x (1+R)^N]/[(1+R)^N-1], where P stands for the loan amount or principal, R is the interest rate per month [if the interest rate per annum is 11%, then the rate of interest will be 11/(12 x 100)], and N is the number of monthly instalments.

How do I calculate the EMI of a Bajaj Two Wheeler loan?

Mathematically, EMI can be calculated using the following formula: {P x R x (1+R)^N / [ (1+R)^N-1]} where, P = Principal amount of the loan, R = Rate of interest and N = Number of monthly installments. Which documents I need to have to apply for a Bajaj two wheeler loan?

How to calculate EMI on bike loan?

A bike loan EMI calculator is an online tool that calculates the monthly installment you will be required to pay off the loan. You have to input the principal amount, interest rate and tenor to calculate the EMI. You can use the tool to judge your repayment capacity. Bike Loan Calculator – How It Works?

Why choose Bajaj AutoFinance for auto finance?

A high credit score can lower the interest rate levied. Loan amount: Bajaj AutoFinance offers upto 99% of the value of the bike. However, choosing a higher loan amount increases the interest rate and vice versa. Loan tenure: Opting for a longer tenure increases the chance of defaulting on the loan, which increases the interest rate of the loan.

What is the EMI amount in a personal loan?

EMI stands for Equated Monthly Installment and is the amount of money that you need to repay to lender against the availed personal loans or any other. A personal loan EMI amount also includes payable interest rate amount on the loan amount.