PaySense Personal Loan EMI Calculator

To effectively manage your financial requirements when applying for a PaySense Personal Loan, using an EMI calculator can help. This tool allows you to input the loan amount, interest rate, and repayment tenure to instantly determine your monthly instalments.

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The calculator also provides insights into the total interest payable and the overall cost of the loan, helping you make informed decisions about your loan options.

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Your Personal Loan EMI
₹ 9,307
Total Interest Amount
₹ 158,438
Principal Amount
₹ 400,000
Total Payable Amount
₹ 558,438
Loan Amount i
Interest Rate
- +
Min value reached
Max value reached
Tenure
- +
Min value reached
Max value reached

You can also make instant comparisons between loan offers from over 20 personal loan providers on Bajaj Markets.

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You can also evaluate the total interest amount and overall payable amount for better financial planning and budgeting.

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The PaySense EMI calculator lets you explore different tenure and interest rate combinations to compare EMI amounts and determine the best option for your budget.

PaySense Personal Loan EMI amount can be calculated with the following formula:

EMI =P×r×(1+r)n(1+r)n−1

Where:

  • P: Principal loan amount

  • r: Monthly interest rate (annual rate divided by 12)

  • n: Loan tenure in months

Here is the detailed calculation of EMI amounts as per tenure up to 5 years for a fixed loan amount of ₹5 Lakhs and interest rate 14%:

Loan Amount 

Tenure (Years)

Interest Rate

Total Interest Amount

EMI

₹5 Lakhs

1

14%

₹38,722.71

₹44,893.56

₹5 Lakhs

2

14%

₹76,154.6

₹24,006.44

₹5 Lakhs

3

14%

₹1,15,197.34

₹17,088.81

₹5 Lakhs

4

14%

₹1,55,835.44

₹13,663.24

₹5 Lakhs

5

14%

₹1,98,047.53

₹11,634.13

*Disclaimer: The above values are for illustrative purposes only. Reach out to PaySense to check the actual EMI amount payable.

The PaySense Personal Loan EMI Calculator is a simple and effective tool to help you plan your loan and make well-informed financial decisions. Here are some of its key benefits:

Free and Easy to Use

You can access the EMI calculator anytime at no cost. It simplifies loan planning without any hassle.

Instant and Accurate Results

You can get quick and precise EMI estimates to understand your repayment obligations before applying for a personal loan.

No Complex Calculations

You only have to enter a few basic details to instantly calculate your EMI and do not require any technical knowledge.

Better Financial Planning

Knowing your EMI in advance helps you manage your budget, adjust your tenure, and borrow wisely.

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Several key factors determine the EMI of your PaySense Personal Loan. Understanding these factors can help you plan your finances better and choose a loan that aligns with your budget.

Here are the factors listed for your understanding:

Loan Amount

The amount you borrow directly impacts your EMI. A higher loan amount leads to a higher EMI. For example, a ₹3 Lakhs loan will have a larger EMI than a ₹60,000 loan, assuming the interest rate and tenure remain the same.

Interest Rate

The EMI increases with a higher interest rate. For instance, a loan at 14% interest per annum will have a higher EMI than a loan at 12% for the same loan amount and tenure.

Loan Tenure

A longer tenure reduces your EMI but increases the total interest paid.

Type of Interest Rate

If you opt for a fixed interest rate, your EMI remains constant throughout the loan period. On the other hand, floating interest rates fluctuate based on market conditions, which can lead to variations in EMI amounts.

Repayment Schedule

The frequency of your loan repayments, be it monthly, quarterly, or biannually, affects your EMI structure. While most borrowers choose monthly payments, some lenders provide alternative schedules that may influence the overall repayment plan.

When you apply for a PaySense Personal Loan, you authorise auto-debit through the National Automated Clearing House (NACH). This allows PaySense to deduct your EMIs directly from your registered bank account. However, the auto-debit process requires approval from your bank before deductions can begin.

Your payment method depends on your NACH status:

Method 1 – NACH Active

If NACH is activated, your EMI will be automatically deducted from your registered bank account on the due date. Ensure that you maintain a sufficient balance at least a day before the EMI due date to avoid late fees and penalty charges.

Method 2 – NACH In Process/Rejected

If your NACH is still under process or has been rejected, you must make your EMI payment manually via the PaySense payment gateway.

You can pay using a debit card or net banking. Please note that payments through PayU may include an additional payment gateway charge

Once your payment is made, it may take 4-5 working days to be processed and reflected against your loan.

Now that you have gained information about calculating the EMI conveniently through the EMI calculator online, you can easily apply for a PaySense Personal Loan at Bajaj Markets. You can get a loan of up to ₹5 Lakhs with a smooth online process, minimal documentation, and flexible repayment tenure.

Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.

Frequently Asked Questions

PaySense Personal Loan
How to calculate Paysense Personal Loan EMI?

You can calculate your personal loan EMI with the help of the personal loan EMI calculator.

Yes, you can. PaySense allows you to foreclose your loan after completing the payment of 3 EMIs. A fee of 4% of the outstanding principal amount applies for foreclosure.

The PaySense EMI Calculator comes with the following benefits:

  • Instant and accurate calculation

  • EMI comparison by trying various permutations and combinations

  • Better budgeting

  • Transparency

  • Free and easy access

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