# Bajaj Finance EMI Calculator

Buying big-ticket items like a home, car, or appliance can put a significant dent in your finances. However, with the help of equated monthly installments (EMIs), you can purchase these items without worrying about paying the full amount upfront. The Bajaj Finance EMI Calculator is a tool that helps you calculate your EMIs based on the loan amount, interest rate, and loan tenure.

 Loan Amount Interest Rate (Reducing) % Per Annum Loan Tenure Years Months months
 Monthly EMI = '¹ Total Amount With Interest = '¹ Total Interest Amount = '¹ Yearly Interest Amount = '¹

## What is the Bajaj Finance EMI Calculator?

The Bajaj Finance EMI Calculator is an online tool that helps you calculate your equated monthly installments (EMIs) for a loan. This calculator takes into account the loan amount, interest rate, and loan tenure to calculate the EMI amount you need to pay each month. It is a useful tool for borrowers who want to understand their monthly loan payments and make informed financial decisions.

## The Formula for the Bajaj Finance EMI Calculator

The formula for calculating the EMI amount using the Bajaj Finance EMI Calculator is:

EMI = [P x R x (1+R)n] / [(1+R)n - 1]

In this formula, P is the loan amount, R is the interest rate, and n is the loan tenure in months.

To use the Bajaj Finance EMI Calculator, you would input the loan amount, interest rate, and loan tenure in months. The calculator would then use the formula above to calculate your monthly EMI payment.

## Example of How to Use the Bajaj Finance EMI Calculator

Let's say you want to buy a home appliance worth \$10,000 and have decided to take a loan from Bajaj Finance at an interest rate of 10% per annum for a loan tenure of 24 months. To calculate your monthly EMI payment, you would use the following figures:

• Loan amount (P) = \$10,000
• Interest rate (R) = 10% per annum
• Loan tenure (n) = 24 months

Using the formula above, the EMI amount you would need to pay each month would be:

[\$10,000 x 0.00833 x (1+0.00833)24] / [(1+0.00833)24 - 1] = \$448.29

This means that you would need to pay \$448.29 each month for 24 months to repay the loan amount of \$10,000 with an interest rate of 10% per annum.

## Interesting Facts About the Bajaj Finance EMI Calculator

The Bajaj Finance EMI Calculator is a helpful tool for borrowers looking to understand their monthly loan payments. Here are some interesting facts about the calculator:

• The calculator is free to use and available online 24/7.
• The calculator can be used to calculate EMIs for different types of loans, including home loans, car loans, personal loans, and consumer durable loans.
• The calculator takes into account the loan amount, interest rate, and loan tenure to provide a more accurate picture of the monthly EMI payment you need to make.