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Bajaj Finance Personal Loan

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Like other lenders, Bajaj Finance offers Personal Loan to meet your everyday needs. Why hold your important expenses when you can get the desired fund through Bajaj Finance Personal Loan?

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Bajaj Finance Personal Loan


Interest Rates, fees, and charges

You can up to INR 25 lakh loan at attractive interest rates. With complete transparency and no hidden charges, you will avail a seamless borrowing experience with Bajaj Finance.


Two types of interest rates are charged on personal loans: Fixed interest rate and floating interest rate.


In the fixed interest rate, the rate remains constant throughout the loan period. So, the EMIs remain constant.


In the floating interest rate, the rates are adjustable and variable depending on other factors in financial institutions. The floating rate varies throughout the loan period.


The interest rate starts from 13% which goes upwards depending on several factors of your eligibility. 


Bajaj Finance Personal Loan

Types of Bajaj Finance Personal Loan Interest Rate

There are two kinds of Bajaj Finance Personal Loan interest rates: fixed and floating.

Fixed Interest Rate

Here, the rate of interest charged on the Bajaj Finance Personal Loan amount will remain constant throughout the loan repayment period. You know your Bajaj Finance Personal Loan EMI obligation at the start of the tenor, allowing you to plan your monthly budget accordingly.

Bajaj Finance Personal Loan
Bajaj Finance Personal Loan

Floating Interest Rate

Here, Bajaj Finance Personal Loan interest rates could change depending on changes to the Marginal Cost of Lending Rate (MCLR), which is the base rate set for banks by the RBI. With changes in MCLR, the interest rate on loans also gets revised. With a lower interest rate, the repayment amount also reduces. On the other hand, if the interest rates increase, your EMI obligation will also increase. A floating Bajaj Finance Personal Loan interest rate makes it difficult for you to ascertain your monthly financial obligation.

Bajaj Finance Personal Loan Interest Calculation Method

There are two methods to calculate interest: flat rate method and the reducing balance method.

In the flat interest rate method, the interest rate is based on the complete loan amount you pay during the repayment period. In case of reducing the balance method, the rate of interest on the Bajaj Finance Personal Loan will be considered and calculated on the basis of the outstanding loan amount.

Flat Interest Rate Calculation

EMI = (principal + total interest payable) / loan tenure in months i.e. total interest payable = P x r x n/100

Where, ‘P’ is the principal loan amount, ‘r’ is the rate of interest, and ‘n’ is the loan tenure in months.

Floating Interest Rate Calculation

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

Where, ‘P’ is the principal loan amount, ‘r’ is the rate of interest, and ‘n’ is the loan tenure in months.

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