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 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.
Applying the values in the formula,
Interest Rate = r = r / 1200
= 8 / 1200 = 0.00666
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 = Monthly EMI x m
= 21747.1073 x 12
= 260965.2873
Total Interest Amount = Total Amount with Interest - a
= 260965.2873 - 250000
= 10965.2873
Yearly Interest Amount = Total Interest Amount / (m / 12)
= 10965.2873 / (12 / 12)
= 10965.2873
