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Disclaimer: The aforementioned values, calculations and results are for illustrative and informational purposes only and may vary basis various parameters laid down by Tata Capital.
A business loan EMI calculator is a simple online tool that helps you evaluate the monthly installments that you need to pay for the repayment of your business loan. Your business loan EMI depends primarily on three factors - loan amount, loan tenure, and the applicable rate of interest. Hence, you can enter these three values in a business loan calculator and know your business loan EMI within a few seconds.
Tata Capital’s Business Loan EMI Calculator is incredibly quick and easy to use. You can simply enter the required values in the relevant boxes, and our EMI calculator business loan will instantly display your business loan EMI and the total interest amount payable on your business loan. By knowing your business loan EMI in advance, you can manage your expenses and plan your repayments accordingly.
Using our business loan EMI calculator is extremely easy. It is one of the simplest ways to check business loan EMI online.Here’s how you can use our EMI calculator business loan:
You can either use the sliders or type these values directly in the relevant boxes. Once you input these values in our EMI calculator business loan, it will display your payable EMI and the interest amount within a few seconds
For instance,
Suppose you have taken a business loan of Rs. 5 lakhs at an interest rate of 14% per annum for two years
Now, you enter these values in a business loan calculator to check your business loan EMI
As soon as you enter these values in a business loan EMI calculator, it will first convert the applicable rate of interest into a monthly rate by dividing it by 12. So, the applicable monthly interest rate would be 14/12, i.e., 1.16%
Then, it will convert the tenure into months. So, the business loan tenure, in this case, would be 2x12, i.e., 24 months
Now, the business loan calculator will integrate these values into the EMI formula:
Your payable EMI would turn out to be Rs. 24,006, and the total interest amount would be Rs. 76,155
A business loan EMI calculator uses the following formula to calculate business loan EMI:
EMI = [P x R x (1+R) ^N]/[(1+R) ^(N-1)]
Here,
‘P’ is the Principal Business Loan amount,
‘R’ is the applicable rate of interest (monthly),
and ‘N’ is the loan tenure or duration (in months)
EMI stands for Equated Monthly Installment. It is the amount that you need to pay every month for a fixed tenure to repay a loan. The EMI that you pay constitutes the repayment of the principal loan amount as well as the interest amount. So, in the case of a business loan, the amount that you need to pay every month towards its repayment is known as a business loan EMI.
Business loan EMI primarily depends on three factors - loan amount, loan tenure, and the applicable rate of interest. You can adjust these three parameters to arrive at an EMI amount you’re comfortable with. With Tata Capital, you can avail of a business loan for a tenure of up to 60 months to keep your business loan EMI affordable. To know your EMI in advance, you can use our business loan EMI calculator.
You can use a business loan EMI calculator to evaluate your business loan EMI in a hassle-free manner. Here are the benefits of using an EMI calculator for a business loan:
Calculating your business loan EMI manually can be a time-consuming process. By using a business loan EMI calculator, you can get results instantly
You can access a business loan EMI calculator online and use it from the convenience of your home or office
Computing business loan EMI by hand is prone to manual errors. However, with a business loan EMI calculator, you will get accurate results every time
A business loan EMI calculator can help you compare EMIs for different lending options and choose the best one
By knowing your EMIs in advance, you can plan and manage your business loan repayment smartly
Your business loan EMI primarily depends on three factors. They include:
Before you apply for a business loan, it’s prudent to calculate your EMI through a business loan EMI calculator. This will give you an accurate idea of the monthly amount that you will need to pay every month to repay your loan amount.
When you know your EMI payments beforehand, you can estimate your monthly obligations and manage your finances in such a way that your business operations don’t get hampered. This way, you can also choose a suitable business loan amount and tenure as per your cash flow requirements.
Loan amortization refers to the process of repaying a business loan over the chosen settlement period. The amortization schedule is a table of your repayment schedule for a business financing through regular Equated Monthly Installments (EMIs).
A loan is made up of two primary components. The first is the principal amount, which refers to the amount borrowed, and the second is the rate of interest, which is the cost of borrowing money from a lender. When you take a business funding, you agree to repay the amount borrowed along with the interest charged. The amortization schedule breaks down each repayment into these two components (principal and interest) and helps you understand the intricacies of your monthly EMIs.
The business loan amortization schedule primarily includes details like your pending loan settlements until the end of the loan term, the principal amount you borrowed, and the rate of interest charged on your business funding. In addition, it also offers information on the following:
Installment amount
Installment number
Due date
Principal component
Interest component
Closing principal
A EMI calculator for business loan can help you understand the amortization schedule of your loan. Here’s an example of how it is calculated:
Consider a scenario where you take a business loan of Rs. 25 lakh for a period of 150 months at an interest rate of 12% per annum. In this case, your loan agreement details will be as follows:
| Business loan amount | Rs 25,00,000 |
| Number of EMIs | 150 |
| Annual interest rate | .1200 |
| Monthly interest rate | .01000 |
| Monthly EMI payment | Rs 32249.69 |
| Total loan amount payable | Rs 4837453.63 |
| Total interest payable | Rs 2337453.63 |
Keeping these details in mind, the business financing amortization schedule for the first ten installments will be as follows:
| Period | EMI amount | Interest amount | Principal amount | Balance amount |
|---|---|---|---|---|
| 0 | Rs 2500000.00 | |||
| 1 | Rs 32249.69 | Rs 25000.00 | Rs 7249.69 | Rs 2492750.31 |
| 2 | Rs 32249.69 | Rs 24927.50 | Rs 7322.19 | Rs 2485428.12 |
| 3 | Rs 32249.69 | Rs 24854.28 | Rs 7395.41 | Rs 2478032.71 |
| 4 | Rs 32249.69 | Rs 24780.33 | Rs 7469.36 | Rs 2470563.35 |
| 5 | Rs 32249.69 | Rs 24705.63 | Rs 7544.06 | Rs 2463019.29 |
| 6 | Rs 32249.69 | Rs 24630.19 | Rs 7619.50 | Rs 2455399.79 |
| 7 | Rs 32249.69 | Rs 24554.00 | Rs 7695.69 | Rs 2447704.10 |
| 8 | Rs 32249.69 | Rs 24477.04 | Rs 7772.65 | Rs 2439931.45 |
| 9 | Rs 32249.69 | Rs 24399.31 | Rs 7850.38 | Rs 2432081.07 |
| 10 | Rs 32249.69 | Rs 24320.81 | Rs 7928.88 | Rs 2424152.19 |
As you can see, the business loan amortization schedule helps you see the interest component in each loan EMI. It also helps you make a note of the remaining principal balance after every repayment. When you know the exact amount of your monthly payment, you can plan your budget accordingly and cater to other financial goals. You can also plan the prepayment of your business financing with greater ease.
Additionally, you can use the interest rate calculator for business loan to determine the loan amortization schedule of different loan offers to compare multiple lenders and their loan terms and save on interest.
Apart from the business loan EMI calculator, here are a few other business loan calculators you can use for your convenience:
To determine the business loan's EMI, you can use the Tata Capital business loan EMI calculator. You must enter your loan amount, preferred tenure and interest rate. It will show you what the EMI will be for the chosen tenure.
The following entities are eligible to apply for a business loan with Tata Capital:
To get approved for a business loan, you must have a minimum turnover of Rs 50,000 annually.
At Tata Capital, we offer business loans starting from Rs. 40,000 and going up to Rs. 75 lakhs.
At Tata Capital, we offer unsecured business loans. This means you don't have to put anything up as collateral or security when you apply for a business loan from us.
We provide fast approval for business loan applications. As soon as you submit your business loan application along with the required documents, our team verifies the documents and your loan amount is disbursed to your bank account with minimum delay.
To track the status of your business loan application
The key benefits of calculating your EMI using the Tata Capital business loan EMI calculator are:
Another major benefit of using the business loan EMI calculator is that you can compare different lending options and choose the best one.
The business loan EMI calculator uses the following method:
EMI = [P x R x (1+R) ^N]/[(1+R) ^(N-1)]
Here,
'P' is the Principal loan amount,
'R' is the applicable rate of interest,
and 'N' is the loan tenure.
In general, EMIs are fixed. However, at Tata Capital, we provide two options for business loan repayment:
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