What is an EMI?
Loan amount, tenure and interest rate are the three key
parameters of a loan and these vary in case of different loan providers. EMI applicable to a
loan varies according to all these three parameters. Therefore, before choosing a particular
loan, it is very important to have an understanding of these three parameters and how do
they relate to the loan EMI.
Calculate Loan EMIs Online Using Loan EMI Calculator
There are different types of EMI calculators based upon the
types of loan such as :
1. Home loan
2. Personal loan
3. LAP
4. Transfer Home Loan
5. Transfer Personal Loan
6. Business Loan
How are Loan EMIs Calculated?
The Business Loan EMI Calculator will immediately display the EMI's applicable for the loan tenure after the amount, rate, and tenure for the business loan are entered. Additionally, keep in mind to consult the amortisation table for a year-by-year schedule of payments throughout the loan term. To determine the term and repayment schedule for your loan, use the Loans4you.in business loan EMI calculator.
| Loan Amount | 1 Year EMI (P.M) | 2 Years EMI (P.M) | 3 Years EMI (P.M) | 4 Years EMI (P.M) | 5 Years EMI (P.M) |
|---|---|---|---|---|---|
| 1 Lac | ₹ 8,792 | ₹ 4,614 | ₹ 3,227 | ₹ 2,536 | ₹ 2,125 |
| 5 Lacs | ₹ 43,958 | ₹ 23,072 | ₹ 16,134 | ₹ 12,681 | ₹ 10,624 |
| 10 Lacs | ₹ 87,916 | ₹ 46,145 | ₹ 32,267 | ₹ 25,363 | ₹ 21,247 |
| 15 Lacs | ₹ 1,31,874 | ₹ 69,217 | ₹ 48,400 | ₹ 38,044 | ₹ 31,871 |
| 20 Lacs | ₹ 1,75,832 | ₹ 92,290 | ₹ 64,534 | ₹ 50,725 | ₹ 42,494 |
Rate Of Interest @10%*.
What is Business Loan?
Business Loan is a type of secured
loan sanctioned against both commercial and residential properties owned by the borrower.
The lender or the financial institution keeps this property as collateral till the loan is
fully repaid.
Both salaried and non-salaried individuals are eligible for mortgage
Loan The loan amount received under LAP can be used for various purposes like starting a
business, buying a property, footing medical bills, meeting wedding-related expenses, paying
education fees, etc. The loan to be repaid is distributed over a period in the form of
Equated Monthly Instalment (EMI) so that repayment does not become a burden on the borrower.
What is Business Loan EMI?
An EMI is the fixed monthly amount, comprising the principal
amount and the interest the borrower pays until the loan is fully repaid. Initially, a big
portion of the EMI consists of the interest amount. An important factor that helps to decide
the repayment amount is the interest Rates. The rate varies for different banks and
NBFC.
Factors Affecting Business Loan EMI Calculation
EMI Calculators work on the basis of the following EMI Calculation Formula:
EMI = [P x R x (1+R)^N]/[(1+R)^N-1]
In this formula,
EMI– Equated Monthly Instalment
P– Principal amount (amount borrowed as loan)
R– Applicable rate of interest (interest rate should be on a monthly
basis)
N– Loan tenure or the number of EMIs to be paid (tenure should be in
months)