Professional Loan EMI Calculator

The loan amount, tenure, and interest rate are considered when calculating the EMI. The formula to calculate the monthly instalment is:

EMI = P x R x (1+R)^N / [(1+R)^N-1] 

Here, P represents the principal loan amount, N denotes the tenure, and R symbolises the rate of interest. However, to get quick results and avoid any errors, you can use the EMI calculator. It generates the results almost instantly.

You can check the probable amortisation schedule for free by using an EMI calculator. It outlines the breakdown of your EMIs into the principal and interest components. The schedule highlights how your monthly instalments gradually service the loan over the set tenure.

No. You can calculate your professional loan EMI online for free on Bajaj Markets.

Some ways to reduce the EMI of your professional loan are as follows:

• Choose a longer tenure

• Negotiate for lower interest rates

• Prepay the loan as and when possible

• Refinance or transfer the balance of your loan

The final agreement usually includes extra charges and slight rate adjustments made by the lender. This could lead to a difference in the estimate and EMI mentioned in your agreement. EMI calculators for professionals usually provide close estimates rather than definitive answers. So, do check the EMI amount with your lender prior to making any financial decision.