1. What is EMI Calculation?

The EMI (Equated Monthly Installment) calculation determines your fixed monthly payment for a Bajaj Finserv home loan linked to your credit card. It includes both principal and interest components.

2. How Does the Calculator Work?

The calculator uses the standard EMI formula:

Where:

• \( P \) — Principal loan amount (INR)
• \( r \) — Monthly interest rate (annual rate divided by 12)
• \( n \) — Loan tenure in months
• \( PMT \) — Monthly EMI payment (INR)

Explanation: The formula calculates the fixed payment amount that will completely pay off the loan over the specified term.

3. Importance of EMI Calculation

Details: Understanding your EMI helps in financial planning, assessing affordability, and comparing different loan options before committing to a Bajaj Finserv home loan.

4. Using the Calculator

Tips: Enter the principal amount in INR, annual interest rate in percentage, and loan tenure in years. All values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: How is Bajaj Finserv's home loan different?
A: Bajaj Finserv offers home loans linked to credit cards with flexible repayment options and competitive interest rates.

Q2: What factors affect my EMI amount?
A: Principal amount, interest rate, and loan tenure are the primary factors. Higher principal or rates increase EMI, while longer tenures reduce it.

Q3: Can I prepay my Bajaj Finserv home loan?
A: Yes, but check for prepayment charges. Partial or full prepayment can reduce your total interest burden.

Q4: How does credit card linkage help?
A: It provides flexibility in payments and may offer reward points or other benefits on your EMI payments.

Q5: Are there any hidden charges?
A: Always check for processing fees, prepayment charges, and other applicable fees before finalizing the loan.