108-Month Personal Loan: Are You Paying 2x?

Bajaj Finance now offers personal loans up to ₹55 lakh with repayment tenures up to 108 months (9 years). Longer EMIs mean smaller monthly payments but much higher total interest — here's what you need to know before signing.

Here's what happened: Bajaj Finance now offers personal loan repayment tenures up to 108 months (9 years), up from the standard shorter periods, for eligible customers.. Loan amounts range from ₹40,000 to ₹55 lakh with interest rates between 10% and 30.5% per annum depending on borrower profile.. The extended tenure reduces monthly EMI but significantly increases total interest paid over the loan's lifetime — a trade-off borrowers must evaluate carefully..

What you should do: Calculate total interest outgo at your actual offered rate using an EMI calculator for both 36-month and 108-month tenures before accepting any loan offer.. Check your CIBIL score before applying — a score above 750 gives you negotiating power to push the interest rate closer to the 10–14% band rather than the 20–30% range.. If you do take a longer tenure, set a calendar reminder to make one extra EMI payment every 6 months — this alone can shave 1–2 years off your repayment and save thousands in interest..

Pro tip: Ask Bajaj Finance for a loan amortisation schedule upfront. In the early years of a long-tenure personal loan, nearly 70–80% of your EMI goes toward interest, not principal repayment.