Benefits of using the EMI calculator – Bajaj Finserv (2024)

FAQs

What are the benefits of EMI calculator? ›

Repayment tenure

A personal loan EMI calculator helps you determine the repayment tenure wisely. Trying out different tenure options on the calculator allows you to plan your EMI outflow as per your repayment capacity.

Attractive offers and discounts at partner stores

With Bajaj Finserv privilege, you also receive attractive discounts and offers on EMI purchases, other payments, travel bookings, etc. These exclusive benefits are available when transacting with Bajaj Finserv partner stores.

Building Credit Score: Timely payment of EMIs contributes positively to an individual's credit score. This can be beneficial for future financial endeavors, such as securing loans for significant purchases like a home or a car. Responsible use of EMI reflects well on an individual's creditworthiness.

By calculating your monthly EMI, the calculator helps you plan your budget more effectively. It gives you a clear understanding of the amount you need to allocate for loan repayment, allowing you to set realistic financial goals and avoid financial stress.

It enables you to buy your dream smartphone – or any other product – on No Cost EMIs. You only pay the product's price, divided into easy EMIs, without additional interest. You can repay the cost of the product in EMIs, with flexible repayment tenures of up to 24 months.

Is taking the Bajaj Finserv EMI card a good option? Absolutely. Opting for the Bajaj Finserv Insta EMI Card is a prudent decision. Its swift approval process, widespread acceptance, and No Cost EMI option ensure a seamless and cost-effective shopping experience.

Bajaj Finserv has low foreclosure and pre-payment charges that make this step affordable. You have to only ensure that the part pre-payment amount is greater than the value of one EMI. Fast approval, a high loan amount and flexible repayment modes make a personal loan from Bajaj Finserv better than the rest.

Using a calculator can save time, increase accuracy, improve efficiency, and simplify complex calculations. It is especially critical for financial planning and can enhance learning by allowing students to focus on the underlying concepts.

What are the benefits of using home loan calculator? ›

A loan against property calculator helps you plan your finances better. You know about your EMI and interest component before applying. It helps you make your monthly budget and analyze it better. It also helps you know about your financial liabilities beforehand so that you can plan for them efficiently.

Loan calculators can help you figure out your monthly payments on different types of loans. These include mortgages, car loans, personal loans, and so on. They can also help you understand how much you can afford to borrow based on your income and other factors.

In EMI plans, a fixed amount is decided, which is to be paid periodically that is on a fixed date of every month. This Equated Monthly Installment or EMI plan aims to provide better financial management to both the borrower and the lender and to pressure the borrower.

Budget-friendly approach: EMI allows individuals to spread the cost of expensive purchases over a series of manageable monthly payments. This makes it easier for people to afford high-value items without straining their finances or dipping into savings.

The purpose of EMI (Equated Monthly Instalment) in financial transactions is to facilitate structured and predictable loan repayments. It ensures borrowers can systematically pay off their debts over time, making loans more manageable and accessible while allowing lenders to recover their funds.