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Business Loan EMI Calculator

Tools and Calculators

  • EMI Calculator
Loan Amount
2,00,000 10,00,000 25,00,000
Rate of Interest
%
11.25% p.a. 15% p.a. 19% p.a.
Loan Duration
Mo
12 Months 60 Months 120 Months
  • EMI Amount

    20,000*

  • EMI Amount

    Principal + Interest

    9,59,995*
  • Interest Payable
    2,59,995*
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What is a Business Loan EMI Calculator?

A business loan EMI calculator is an online tool that helps you in understanding the monthly amount you will pay to repay your loan. You can use the EMI calculator to know your EMI by simply providing your business loan amount, tenure, and interest rate. By using the business loan calculator, you can accordingly plan your instalments, manage your other expenses, and comfortably pay off the loan. 

How to Calculate your Business Loan EMI Manually?

The formula used for calculating business loan EMI

EMI = [P x R x (1+R)^N]/[(1+R)^ (N-1)],

Here, the variables represent are:

P – Total loan amount

R – Interest rate levied on the principal amount (monthly)

N – Loan tenure of repayment (in months)

For instance:

  1. Suppose the business loan amount is Rs 5 lakh, at an interest rate of 20%, for two years.

  2. Here, convert the interest rate (given annually) into a monthly rate. Divide the provided business loan interest rate by 12 months (in a year), which will give you 20/12=1.66%

  3. Also, convert the total tenure into months. Here you can multiply two with the total number of months in two years: 2X12=24.

  4. Now integrate the variables into the formula:

EMI= [5,00,000 x 1.66/100 x (1+1.66/100) ^ 24 / [(1+1.66/100) ^ 24 – 1)

  5. You will get your EMI= Rs. 50, 895.

Not only is this method time consuming, but it is also prone to human errors. Hence, it is best to use a business loan calculator, readily available online.

What is a Business Loan EMI?

EMI stands for Equated Monthly Instalments. It is the payment that you make for any loan undertaken for a fixed tenure to pay off the loan. You can take time between 12 to 36 months to repay your business loan with Tata Capital. Your EMI will include principal and interest payments made every month towards the repayment of the loan. Though the amount of business loan EMI does not change, the percentage of principal and interest will change month on month. Initially, the interest is higher but gradually the principal payment is more. The exact percentage of principal and interest will depend on the interest rate charged and the tenure for which the loan is taken.

What are the benefits of using a business Loan EMI Calculator?

  • Calculating the EMI on your business loan can be a time-consuming mathematical process. With a business Loan EMI Calculator you can get the results easily.

  • Online EMI calculators are easy to use. Simply provide your loan tenure, amount, and interest rate to get the EMI.

  • Computing the EMI by hand is prone to various human errors, however, calculators are seldom incorrect.

  • You can use a business loan EMI calculator to compare the EMIs on different lenders and opt for the right one.

  • Calculating EMI also helps you in smartly plan for future finances, monthly budgets, and more. 

Foreclosure Calculator

A business loan foreclosure calculator allows you to calculate your foreclosure amount for the business loan. Use Tata Capital’s business loan foreclosure calculator and quickly compute the interest saved.

Pre-Payment Calculator

Prepaying a business loan means you repay a specific lump sum amount from the total loan before your tenure ends. With Tata Capital’s business Loan pre-payment calculator, understand the impact of early loan repayment on your monthly instalments, loan tenure, and more. 

GST Calculator

The GST calculator from Tata Capital is a handy tool, useful in checking the total GST amount payable. You can easily review the GST charges before applying for a business loan. 

FAQ

You can use a business loan EMI calculator by following these simple steps.

Step 1 – Set the principal loan amount you desire to borrow

Step 2 – Set the business loan rate of interest

Step 3 – Set the loan tenure in months or years

Once done, the calculator will automatically display the business loan EMI amount and the interest payable on your business loan within seconds. 

Business loan EMI can be calculated when the three basic inputs – principal loan amount, rate of interest, and loan tenure – are known. There are typically two methods of calculating business loan EMI, as given below –

  • Manual Method – This method of calculating business loan EMI involves manual calculation using a formula. The formula is – E = P x r x [(1+r)n/(1+r)n]-1 where E stands for EMI, P stands for Principal loan amount, r stands for the rate of loan interest, and n stands for the loan tenure in months.

  • Automatic Method – This method of calculating business loan EMI is an advanced and time-saving method wherein you just need to input the values of principal loan amount, rate of interest, and loan tenure in an online business loan EMI calculator and your results will be displayed automatically and within seconds.

Using a business loan EMI calculator offers the following benefits –

  • Fast – Lightning fast, displaying results automatically and in within seconds

  • Accurate – Not susceptible to errors as opposed to manual calculations

  • Easy to Use – User-friendly, requiring only three basic inputs – principal amount, rate of interest, and loan tenure

  • Free of Charge – Completely free online tool

  • Maintains Anonymity – Keeps personal information safe by maintaining anonymity

Knowing your business loan EMI in advance comes with the following benefits –

  • Financial planning – Manage finances better by knowing the exact amount needed to shelve out each month

  • Assessing affordability – Find out whether your business loan is within your repayment ability

  • Determining loan tenure – Opt for a shorter tenure to not only close your loan sooner but also to avoid higher interest outgo.

The optimum business loan EMI is one that you can comfortably pay off without disturbing your other monthly financial commitments. It is possible to select a loan EMI option that sits well with your repayment capacity with the following tips –

  • Opt for a higher downpayment – Downpayment is the portion of the loan amount you need to pay upfront to your lender. If you have sufficient liquid funds, choosing a higher downpayment will reduce the principal loan amount on which interest will be charged, thereby reducing your loan EMI.

  • Choose a longer loan tenure – Loan tenure is inversely proportional to the EMI. So, if you choose a longer tenure, your business loan EMI amount will reduce.