Bajaj Finance Introduces Extended Loan Tenure and Online Calculator in 2026
Bajaj Finance has updated its personal loan offering in 2026, introducing repayment tenures of up to 108 months and a dedicated online calculator to help borrowers plan their Equated Monthly Instalments (EMIs). The Bajaj Finance Personal Loan is an unsecured, collateral-free product designed for both planned and urgent expenses, including medical emergencies, home renovation, education, travel, and weddings.
Eligible customers can avail loan amounts ranging from Rs 40,000 to Rs 55 lakh, with interest rates between 10% and 30% per annum, depending on the borrower's credit profile, income, and repayment capacity. The loan features quick approval, minimal documentation, and fund disbursal within 24 hours after approval, subject to terms and conditions.
Features of Bajaj Finance Personal Loan
The loan offers repayment tenures from 12 months to 108 months, allowing borrowers to select an EMI that fits their monthly budget. The extended tenure of up to nine years provides greater flexibility, especially for those seeking larger loan amounts. However, Bajaj Finance notes that longer tenures may result in higher total interest outgo, while shorter tenures increase monthly instalments but reduce overall interest.
Interest rates are determined based on factors such as credit history, monthly income, employment profile, existing financial obligations, loan amount, and chosen tenure. The Bajaj Finance Personal Loan Calculator helps customers estimate EMIs instantly by inputting loan amount, tenure, and interest rate, enabling comparison of different repayment scenarios.
How the Bajaj Finance Personal Loan Calculator Works
The calculator is an online tool that provides instant EMI estimates. Users enter the preferred loan amount, select a repayment tenure between 12 and 108 months, and choose an applicable interest rate. The tool then displays the estimated EMI and total repayment amount. This allows customers to compare options and understand the financial commitment before applying.
According to Bajaj Finance, the calculator supports better budgeting and repayment planning, helping borrowers make informed decisions. It is particularly useful for those managing larger expenses who need to balance EMI obligations with regular household expenses, savings goals, and future commitments.
Benefits of Longer Repayment Tenure
Longer tenures can make a noticeable difference to monthly financial planning. By spreading the loan amount over up to 108 months, borrowers can reduce their monthly EMI burden, making it easier to maintain financial stability. For example, a loan of Rs 5 lakh at 15% interest would have an EMI of approximately Rs 11,110 for a 60-month tenure, but around Rs 7,200 for a 108-month tenure. However, total interest paid would increase from about Rs 1.67 lakh to Rs 2.78 lakh.
Bajaj Finance emphasizes that the right tenure depends on the borrower's repayment flexibility and budget. The calculator allows users to adjust parameters to find an optimal balance.
Eligibility and Application Process
The Bajaj Finance Personal Loan is suitable for salaried and self-employed individuals with a stable income. The online application process involves checking eligibility, filling personal and employment details, uploading required documents (identity proof, address proof, PAN card, bank statements, and income documents), selecting loan amount and tenure, and submitting for verification.
After approval, eligible customers may receive funds within 24 hours. The company states that the process is designed to be simple and convenient, with minimal documentation.
Customer-Centric Lending Approach
Bajaj Finance, a subsidiary of Bajaj Finserv Ltd., is a deposit-taking Non-Banking Financial Company (NBFC-D) registered with the Reserve Bank of India. It has a diversified lending portfolio across retail, SMEs, and commercial customers, with a franchise of 69.14 million customers on a consolidated basis. The company holds the highest domestic credit rating of AAA/Stable for long-term borrowing, A1+ for short-term borrowing, and CRISIL AAA/Stable & [ICRA]AAA(Stable) for its fixed deposit program. It also has a long-term issuer credit rating of BB+/Positive and a short-term rating of B by S&P Global Ratings.
The company continues to focus on customer-centric lending solutions that combine convenience, flexibility, and responsible borrowing. The Bajaj Finance Personal Loan Calculator is a key tool in this approach, helping customers understand repayment commitments and plan budgets effectively.
