108-Month Personal Loan: Are You Paying 2x Interest?
Bajaj Finance now lets you repay a personal loan over 108 months (9 years). Lower EMIs sound great, but stretching repayment this long can double your total interest cost — here's what to watch before you sign.
A 9-year loan EMI sounds low — but total interest can exceed your entire year's salary.
What you pay extra in interest by choosing 108 months over 48 months
Key Takeaways
Calculate total interest cost — not just EMI — using a loan calculator before choosing a 108-month tenure.
Compare: on a ₹10 lakh loan at 14%, choosing 108 months over 48 months costs roughly ₹2.7 lakh extra in interest.
Choose the shortest tenure your monthly budget can comfortably handle — lower EMI is not always smarter borrowing.
Bajaj Finance now lets you repay a personal loan over 108 months (9 years). Lower EMIs sound great, but stretching repayment this long can double your total interest cost — here's what to watch before you sign.
Here's what happened: Bajaj Finance extended personal loan tenure from 84 months to 108 months (9 years) for eligible borrowers.. Loan amounts range from ₹40,000 to ₹55 lakh, with interest rates starting at 10% per annum.. Longer tenure reduces monthly EMI but significantly increases total interest paid over the loan's life..
What you should do: Calculate total interest cost — not just EMI — using a loan calculator before choosing a 108-month tenure.. Compare: on a ₹10 lakh loan at 14%, choosing 108 months over 48 months costs roughly ₹2.7 lakh extra in interest.. Choose the shortest tenure your monthly budget can comfortably handle — lower EMI is not always smarter borrowing..
Pro tip: If you must take a long tenure, make one extra EMI payment per year — it can cut your loan period by 12–18 months and save tens of thousands in interest.
Compare Personal Loan Rates
Open GoCredit App →References
- [1]“Bajaj Finance Personal Loan Simplifies Borrowing with an Extended Repayment Tenure of up to 108 Months” NewsVoir · 29 Jun 2026
This article is reported by GoCredit's Editorial Team based on the source above. GoCredit synthesises, contextualises, and adds India-borrower-relevant analysis. We are not the original publisher.