Bajaj Finance EMI Calculator

Calculate your Bajaj Finance Equated Monthly Installments using our EMI calculator. Just input here the principal loan amount you obtained from Bajaj Finance, rate of interest, and the loan tenure you agreed for to calculate the Equated Monthly Installments (EMI). The calculator also calculates the total amount you are about to pay for the loan amount you obtained along with the interest amount and yearly interest.

Calculate Bajaj Finance Loan Monthly EMI

% Per Annum
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Formula:

r = r / 1200 Monthly EMI = a x r / (1 - (1 / (1 + r))m) Total Amount with Interest = Monthly EMI x m Total Interest Amount = Total Amount with Interest - a Yearly Interest Amount = Total Interest Amount / (m / 12) Where, a = Loan Amount r = Interest Rate (Reducing) m = Loan Tenure

Example

Consider that you about a loan amount of Rs.2 lakh and 50 thousand for a period of 1 year with an interest rate of 8% from Bajaj Finance. Calculate the Equated Monthly Installments (EMI)?
Given,
Loan Amount = 250000
Loan Tenure = 1 year = 12 months
Interest Rate = 8%

Interest Rate

Applying the values in the formula,
Interest Rate = r = r / 1200
= 8 / 1200 = 0.00666

Monthly EMI

Monthly EMI = (a x r) / (1 - (1 / (1 + r))m)
= (250000 x 0.00666) / 1 - (1 / (1 + 0.0066))12)
= 21747.1073

Total Amount with Interest

Total Amount with Interest = Monthly EMI x m
= 21747.1073 x 12
= 260965.2873

Total Interest Amount

Total Interest Amount = Total Amount with Interest - a
= 260965.2873 - 250000
= 10965.2873

Yearly Interest Amount

Yearly Interest Amount = Total Interest Amount / (m / 12)
= 10965.2873 / (12 / 12)
= 10965.2873

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