Here’s how to use the Bajaj Finserv Home Loan Calculate to know your EMI and Eligibility

Despite having home loan eligibility, many people don’t apply for it and go under the home loan process. It is because they are unaware of the exact home loan amount that a lender will approve. Even if they apply, their applications are rejected as they may apply for an amount much higher than their eligibility.

On the other hand, when prospective borrowers don’t know how much home loan EMI to pay, they skip applying. It is because they are unable to plan their finances and approach the home loan with confidence.

Bajaj Finserv is a leading non-banking finance company (NBFC) in India. It offers a home loan with a large amount and plenty of benefits. It also offers the facility of home loan calculator.

Using the home loan calculator for eligibility and EMI, it is possible to calculate everything in advance.

If you want to know how to use the Bajaj Finserv Home Loan calculator to calculate the EMI and eligibility, here is an article!

Home loan EMI calculator — What is it, and how to use the online tool?

The home loan EMI calculator is an online tool available on a lender’s platform to calculate payable EMI. Here’s how you can use the online home loan EMI calculator:

1. Open the home loan EMI calculator; choose your desired amount, your applicable rate of interest and the repayment tenor.
2. Once done, the housing loan EMI calculator will showcase the exact payable home loan EMI amount. The online tool will also showcase the precisely payable home loan interest rate charges. You will also come to know about the actual cost of the loan (principal + interest).

Home loan eligibility calculator — What is it, and how to use the online tool?

The home loan eligibility calculator is an online tool available on the platform of your lender like Bajaj Finserv. If you wish to know about steps to use the home loan eligibility calculator, here’s how to do it:

1. Access the home loan eligibility calculator on the Bajaj Finserv website.
2. On the online home loan eligibility calculator, enter your date of birth and city name.
3. Now, choose your monthly income, other income sources, current obligations and the loan tenor.
4. Once you select these parameters, you should hit the ‘Calculate Your Eligibility’ button.
5. After you do that, the home loan eligibility calculator will display the exact amount that you will be able to get from the lender.

Applying for the same eligible amount can help you get the loan approval without the chances of rejections.

What are the benefits of the online home loan calculator?

Using the home loan calculator for eligibility and EMI provides you with many benefits. Let’s take a look:

1. Quick results

Using the home loan calculator can help you fetch results like the EMI and eligibility amount faster. There is no waiting period if you want to know about results in a flash.

2. No errors

Compared to the manual method of calculating EMI and eligibility amount, using the online housing loan calculator helps you avoid errors.

3. Helps you indulge in financial planning

When you are aware of the exact home loan EMI amount and the eligibility figure, you can indulge in hassle-free financial planning. This way, you can start making adjustments in your outlays to make way for EMI payments.

Read Also: Learn in Detail how your Home Loan EMI is Calculated

Lenders want you to apply for a home loan and more without hassles. They design different tools to help you calculate the diverse aspects and costs of a loan.

If you are looking to apply for a housing loan, you can start making the most of home loan calculators.