(Updated on 02.01.2017) Bajaj Finserv Loan Against Property Eligibility Calculator JAN 2017 – Loansninsurances.com provides a simple tool to calculate Bajaj Finserv Loan Against Property EMI on the basis of ✓Loan Amount ✓Interest Rate ✓Repayment Options ✓Processing Charges & more.
BAJAJ FINSERV LOAN AGAINST PROPERTY – INSTANT QUOTES ONLINE
Bajaj Finserv offers loan amount up to Rs. 21 crores or up to a maximum of 60%* of the market value of your property at a very attractive interest rate, loan processing charges up to 2%, maximum repayment tenure up to 15 years with nil loan statement charges, nil interest and principal charges, part payment facility, foreclose facility & more.
The eligibility criteria for a self-employed professional with a regular source of income at Bajaj Finserv required customer reside in India, customer age should be at least 25 years. Bajaj Finserv offers minimum loan amount is Rs. 60 Lakh for Mumbai and Delhi, Rs. 30 Lakh in other cities.
|Lender Name||Bajaj Finserv Ltd.|
|Loan Amount||up to ₹ 21 crores|
|Processing Fees||up to 2% of loan amount|
|Repayment/Tenure||up to 15 years|
Documents required for opting Loan Against Property at Bajaj Finserv is 1 passport size photo, complete application form, 5 years business continuity proof, last 6 months updated bank statement, date of birth proof, identity proof, address proof, signature proof, IT returns & balance sheet & P/L account statement for the last 2 years & xerox copy of property paper to be mortgaged.
The formula for EMI (in arrears) is:
Where E is EMI, P is Principal Loan Amount, r is rate of interest calculated on monthly basis. (i.e., r = Rate of Annual interest/12/100. If rate of interest is 11.75% per annum, then r = 11.75/12/100=0.00979) and n is loan term / tenure / duration in number of months
Bajaj Finserv Loan Against Property EMI Calculator
|Fill Loan Amount, Interest rate & Tenure in Fields & get Instant Calculation for Peroperty Loan EMI within seconds.
For example a customer applied for property loan ₹ 31,00,000 amount, interest rate given by Bajaj Finserv is 11.75% for 120 months (10 years). Now you should have to check how much emi, interest amount you will pay for your Loan Against Property.
|LOAN AMOUNT||INTEREST RATE (%)||LOAN TENURE||EMI||INTEREST AMOUNT|
|₹ 31,00,000.00||11.75%||120 months||₹ 44,029||₹ 1509192.04|
Now you should have to figure out yearly basis property loan amount. Follow the given table for complete break up. These values calculated on December 19, 2016.
|Year||Principal Amount (X)||Interest Amount (Y)||Principal + Interest Amount (X + Y)||Outstanding Balance|
|2016||₹ 1,58,010||₹ 3,26,311||₹ 4,84,320||₹ 29,41,990|
|2017||₹ 1,92,831||₹ 3,35,518||₹ 5,28,350||₹ 27,49,159|
|2018||₹ 2,16,750||₹ 3,11,600||₹ 5,28,350||₹ 25,32,409|
|2019||₹ 2,43,635||₹ 2,84,714||₹ 5,28,350||₹ 22,88,774|
|2020||₹ 2,73,856||₹ 2,54,494||₹ 5,28,350||₹ 20,14,918|
|2021||₹ 3,07,824||₹ 2,20,525||₹ 5,28,350||₹ 17,07,093|
|2022||₹ 3,46,007||₹ 1,82,343||₹ 5,28,350||₹ 13,61,087|
|2023||₹ 3,88,925||₹ 1,39,425||₹ 5,28,350||₹ 9,72,162|
|2024||₹ 4,37,167||₹ 91,183||₹ 5,28,350||₹ 5,34,995|
|2025||₹ 4,91,393||₹ 36,957||₹ 5,28,350||₹ 43,602|
|2026||₹ 43,602||₹ 427||₹ 44,029||₹ 0|