All you Need to Know About Bajaj Finserv Personal Loan EMI Calculator

These days getting a personal loan to pay off previous debts, medical bills, etc. has become a common practice amongst individuals. However, with every loan comes the responsibility of paying EMIs for years. EMI or the Equated Monthly Installment is a fixed amount of payment that a borrower has to pay to the bank each month to pay off the debt.

If you are planning to get a personal loan, calculating the loan EMI in advance will help you fix a loan amount that you can easily repay. To calculate the loan EMIs, Bajaj Finserv Personal Loan EMI Calculator is one of the easy and simple online tools. Likewise, other calculators, the Personal Loan EMI Calculator from the Bajaj Finserv delivers accurate results at zero cost. All you need to do is to input some essential information related to the personal loan you are planning to apply for and get results with a simple click of the mouse. 

Advantages of using Bajaj Finserv Personal Loan EMI Calculator

1. It delivers 100% accurate results in a minute’s time.

2. Since all the calculations can be done online with the help of EMI calculator, you no longer have to visit the bank to get the details of personal loan.

3. Calculating Loan EMI using calculator is an online process that saves a lot of time and keeps you free from physical exertion too.

4. Bajaj Finserv personal loan EMI calculator comes with a user-friendly interface and thus can be used by everyone single-handedly.

5. This tool helps applicants determine their loan eligibility based on the criteria set by the company. The applicant only needs to provide a few details related to his/her age, monthly income, current loan EMIs, outstanding debts on credit cards and the city of residence to find out his/her personal loan eligibility.

6. Using the Bajaj Finserv personal loan EMI calculator also helps applicants fetch information about the total rate of interest that the applicant has to pay throughout the loan term and also the monthly EMIs payable to the bank each month to pay off the loan.

Talking about the company, Bajaj Finserv is one of the leading financial services company with years of experience in lending, asset management, wealth management, insurance, etc. The company proficiently caters to the needs of the customers of different cohorts. It has a strong online presence and a technologically advances customer care division on which customers can rely on for any queries and apprehensions. Moreover, customers can reach out to their customer care staff through various platforms:

1. Online Bajaj Finserv portal

2. SMS

3. Mobile app 

4. Email

5. Personally visiting the nearest Bajaj Finserv branch

So the crux is that Bajaj Finserv can prove to be the best platform to apply for a personal loan. The eligibility criterion of getting a loan from this company is fairly easy. Applicants of at least 25 years of age with a monthly earning of Rs. 30,000/- to 40,000/- can apply for Bajaj Finserv personal loan. Moving on to the interest rate on personal loans, the company charges a minimum of 13.49% rate of interest based on your person’s eligibility, total earnings, loan amount and loan term. The company also charges a processing fee of 2.25% to 3% of the loan amount.

Apart from a personal loan, Bajaj Finserv offers a range of car loans, bike loans at affordable interest rates decided on the basis of the profile of the borrower, the geography of his/her residence, the loan amount and the Bajaj Motorcycle for which the loan is sought.

Growth vs. Dividend Option in Mutual Fund

Mutual Funds (MF) are one of the safest investment options that promise good returns for the investor. However while making an investment in mutual funds, an investor has to make endless choices, amongst which are choosing between a growth option and a dividend reinvestment option; this choice is the trickiest. Both options have their own set of benefits and drawbacks and deciding which one is better depends on one’s personal needs and requirements. 

What is the Growth option?

By choosing the growth option in the mutual fund, an investor will not get the dividends that are remunerated by the stocks of the mutual fund. Instead, the amount paid to the investor as the dividend is further reinvested. This increases the net asset value (NAV) of the mutual fund. The growth option in the mutual fund is good for investors who do not want regular earnings from their MF investments. Also, it is a sure shot way to maximize the fund’s NAV and realize a higher capital gain, on the same number of shares that he/she originally invested in, at the time of selling mutual funds. In the growth option, the fund holders don’t get more shares; instead his/her shares of the funds increase in value.

What is Mutual Fund dividend?

The dividend reinvestment option in mutual funds is quite different from the growth option. Here the dividend is paid to the investor so that he/she can purchase more shares. Still the payment is not made to the investor; instead, the cash is routinely transferred to the fund managers who buy more funds on behalf of the investor and transfer funds to their mutual fund account. The fund's holders, in this case, realize the capital gain at the time of sale of the units of the funds. Unlike the growth option, investors will gradually have more fund in dividend option than they have started with.

       

The Comparison

The dividend reinvestment option is suitable when the market is high as this is the time when you are more likely to get good returns. Mutual fund dividend is also the safest option for those who want to get regular cash from their investment. This means stay-at-home-parents; retired individuals should pitch for a dividend option. 

The growth option in mutual funds, however, is ideal if you have a steady income and you are not dependent on your investment for money. Here the results are compounded and tend to get higher at the time of maturity. In mutual fund growth option, if you continue to invest for more than one year, your investment will be tax-free. Otherwise, you will have to pay short-term capital gain tax. In dividend option, no such tax has to be paid by the investor. Here fund houses pay the dividend distribution tax.

Conclusion

Concluding the above topic, it can be stated that no mutual fund is perfect for all categories of investors. Thus to determine the most suitable option, you must give consideration to three factors - Cash requirement, Time Frame, and Tax efficiency. In addition to this, you must also do a thorough research on the list of advantages and disadvantages associated with each fund type. 

A mutual fund investment is one of the safest investment options. It is a far better investment alternative than hoarding your money in the savings account. With mutual fund investment, you can not only keep your money safe but also earn good returns, more than a savings account would ever give. One rule of thumb, the more money you’ll invest the more returns you are likely to get on your investment. Also, the time period pays a vital role in mutual funds investment. Investors who invest for a longer tenure are more likely to get high returns and many tax benefits than those who invest for a short period of time.