Bajaj Finance Home Loan EMI Calculator
Before taking out a large loan, use an EMI calculator to avoid long-term issues. Before buying your dream home, make an organised selection and avoid financial mistakes. Preparing for expenses and investments is smart. A Home Loan EMI Calculator is the fastest and easiest way to calculate your EMI before obtaining the loan. Use the Bajaj Finance home loan EMI calculator when applying for a home loan.
Estimating your monthly outgoings and loan payments before committing to a mortgage is wise. It will prevent you from dealing with a lot of stress that would otherwise be necessary owing to your financial situation. In addition, planning out your steps before applying for a mortgage can provide you with a more structured and detailed investing framework to aid in your decision-making.
If you enter a principal amount, term, and interest rate and the resulting EMI is too high, you can reduce the loan amount or extend the tenure to bring it down to a reasonable level. You can use the Bajaj Finance EMI calculator for a home loan to keep tabs on your loan’s status and repayment any time after signing it.
Key Factors That Affect the Home Loan EMI
Before you go to a bank to get a home loan, you must try different plans to find the one that works best for you. Here are the three things that directly affect your EMI payment each month.
- The interest rate is one of the most important things that affect EMI rates. When interest rates stay high, the EMI automatically goes up towards the end of the home loan tenure. So, before you get a home loan, look at their plans to see which is best for you.
- When you get a home loan, the principal loan amount plays a significant role in figuring out how much your EMI will be. Your EMI amount automatically increases when the loan amount is high, and the home loan tenure is short. When the loan amount is more significant, the interest rate increases.
- The term you choose for a house loan will also affect how much you pay each month. The shorter the loan, the higher the monthly payment. Longer term, lower monthly price. Longer duration, from 20 to 30 years, increases the total cost.
Benefits of using a Home Loan EMI calculator
- You don’t have to go to the bank or meet with a professional to figure out your EMI. Instead, before you take out a loan, you can use an online calculator to figure out and plan your EMI. It’s an online tool that will tell you exactly how much you’ll have to pay each month after getting the loan. It will take about five seconds.
- Using the home loan EMI formula, the online calculator gives you a result that is 100% correct. During the process, you never have to worry about whether or not the effect is accurate because it is always the exact amount.
- Even after you’ve taken out the loan, you can use the EMI calculator for home loan Bajaj Finance to find out how much you still owe and need to pay.
- You can also try different combinations of the principal amount, the interest rate, and the loan length to find the best plan that meets your needs and fits your budget.
How Loan Amortisation Schedule Helps Paying EMI?
Amortisation is lowering the estimated or nominal value of an intangible asset for a business or a loan for a person. This is done with the help of an amortisation schedule calculator, which is a set way to pay, like an Equated Monthly Instalment (EMI).
In an amortisation schedule, the part of each payment that goes towards interest decreases slightly with each payment, while the amount that goes towards the principal increases.
You could also use an EMI amortisation schedule if you want to get a loan. In that case, you can also use a mortgage calculator to determine how much your loan will cost.
Comparison of Bajaj Finance Home Loan Rates with SBI, Kotak Mahindra, Axis & Other Banks
Bajaj Finance currently offers its clients home loans with interest rates starting at 6.8%. Below is the home loan EMI comparison of different banks:
| Name of Lender | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh |
| SBI | 8.60% – 9.50% | 8.60% – 9.40% | 8.60% – 9.40% |
| HDFC | 8.65% – 10.35% | 8.65% – 10.60% | 8.65% – 10.70% |
| LIC Housing Finance | 8.65% – 10.10% | 8.65% – 10.30% | 8.65% – 10.50% |
| ICICI Bank | 8.75% – 9.85% | 8.75% – 9.85% | 8.75% – 9.85% |
| Kotak Mahindra Bank | 8.65% onwards | 8.65% onwards | 8.65% onwards |
| PNB Housing Finance | 8.75% – 14.50% | 8.75% – 13.00% | 8.85%-10.85% |
| Punjab National Bank | 8.60% – 9.35% | 8.55% – 9.25% | 8.55% – 9.25% |
| Bank of Baroda | 8.60%-10.35% | 8.60%-10.35% | 8.60%-10.60% |
| Union Bank of India | 8.60% – 10.50% | 8.60% – 10.70% | 8.60% – 10.70% |
| IDFC First Bank | 8.60% onwards | 8.60% onwards | 8.60% onwards |
Housing Loan EMI Calculator of Bajaj Finance for Different Loan Amounts
Bajaj Finance Home Loan for:
- INR 10 lakhs: A home loan EMI for 10 lakhs repayable after 20 years at an interest rate of 6.8% pa is repaid at INR 7633 per month.
- INR 20 lakhs: A home loan EMI for 20 lakhs repayable after 20 years at an interest rate of 6.8% pa is repaid at INR 15267 per month.
- INR 30 lakhs: An EMI on home loan of 30 lakhs repayable after 20 years at an interest rate of 6.8% pa is INR 22900 per month.
- INR 40 lakhs: A home loan worth INR 40 lakhs repayable after 20 years at an interest rate of 6.8% pa is repaid at an EMI of INR 30534 per month.
- INR 50 lakhs: An EMI on 50 lakhs home loan repayable after 20 years at an interest rate of 6.8% pa is INR 38167 per month.
- INR 1 crore: An EMI on home loan of 1 crore payable after 20 years at an interest rate of 6.8% pa is repaid at an EMI of INR 76334 per month.
How Nobroker Can Help in Home Loan Assistance and Application
NoBroker is an online resource that facilitates the search for and acquisition of real estate and the related tasks of arranging a mortgage. To help you get the best home loan rates possible for your specific condition and needs, NoBroker has established relationships with numerous banks and non-banking financial companies. You can get the best loan for your situation with the help of NoBroker’s home loan and real estate experts.
Comparing several loans by looking at their interest rates, housing loan repayment schedules, and other details is possible when you have access to the free Bajaj Finance home loan EMI calculator. Get in touch with NoBroker’s expert today and come one step closer to owning your dream home.
