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Business Loan EMI Calculator

Tools and Calculators

  • EMI Calculator
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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.