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Business Loan EMI Calculator

Digital Loan Tool | Free To Use | Instant & Accurate Results


%
Total Payable
Interest Payable

As a business owner, it is absolutely crucial that you borrow funds at cost-effective terms. Deciding loan terms ensure that cash flow management and profit generation continue unabated. To plan repayment efficiently, be sure to use the business loan EMI calculator.

Poonawalla Fincorp offers a free EMI calculator for business loans in India to help you plan the loan without any hassles. With it, you can calculate business loan EMI, know the total interest outgo, and access the amortisation schedule for deeper insight into repayment.

Step 1: Visit the calculator webpage
Step 2: Input the loan amount you require
Step 3: Fill in the interest rate offered to you by Poonawalla Fincorp
Step 4: Enter the loan duration under section ‘Tenure’
Step 5: View the results under the section ‘EMI Amount’

There are 3 ways to calculate business loan EMIs, each with varying complexity and effort required.

  • Online calculator: The simplest, quickest, and easiest way to compute monthly instalments to use a business loan monthly EMI calculator. Here, all you need to do is enter the values for the 3 main components, and the result is auto generated within seconds.
  • Microsoft Excel: This method is fairly simple but has room for errors. Here, using the Excel program, input ‘PMT’ formula. Once selected, enter loan data into the following variables accurately.
    • ‘Rate’: This is the rate of interest on a monthly basis
    • ‘NPER’: This stands for loan tenure in months
    • ‘PV’: This denotes the loan amount or principal value
    Upon entering these details, be sure to leave the values for ‘FV’ and ‘Type’ as 0 and 1, respectively.
  • Manual calculation: This is the most difficult way to calculate business loan EMI values as it requires manual calculation using the following formula.
    EMI = [P x R x (1+R) ^ N] / [(1+R) ^ (N-1)]
    Here,
    ‘P’ denotes the principal amount
    ‘N’ denotes the tenure in months
    ‘R’ denotes the interest rate applicable on a monthly basis

There are 4 ways to reduce the EMI amount.

  • 1. Reduce the loan amount you wish to borrow
  • 2. Opt for a longer tenure on the business loan
  • 3. Secure a lower interest rate
  • 4. Prepay the business loan at least once during the tenure

There are 3 key factors that affect business loan EMIs, and here is a breakdown of each for your understanding.

  • Loan amount: This is the sanction you receive, and it directly affects the EMI amount. The EMIs on a small-ticket loan will be lower than the EMIs on a big-ticket loan with identical tenure and interest rate.
  • Interest rate: This is the rate at which interest is calculated on the principal amount. For a business loan, it ranges between 15% and 26%. Loans sanctioned at a higher rate will have higher EMIs as compared to loans with lower rates with equal quantum and tenure.
  • Tenure: This is the repayment window and is another critical factor that affects your business loan EMI value. In this case, opting for a lower tenure increases the EMI amount as you have a smaller window to repay debt. Alternatively, if you’re looking for affordable EMIs, a long-tenure business loan is a better fit.

How is business loan interest calculated?
Business loan interest is calculated based on market conditions, the lender’s benchmarking system, and the applicant’s financial profile.

Can I use the EMI calculator for free?
Yes. You can use the Poonawalla Fincorp Business Loan EMI Calculator for free online, as many times as you need.

Is there a way to access the business Loan online repayment schedule offline?
Simply enter the accurate values into the calculator and click on ‘Download Repayment Schedule’. A PDF file will get automatically downloaded with all the information accessible offline.

Why should I use the EMI calculator?
The EMI calculator is a tool that can come in handy when planning the loan. As a business owner, you can use it to identify suitable repayment plans based on your business goals.

How do I access the amortisation schedule?
To access the amortisation schedule, all you need to do is calculate your EMI amount based on the loan terms offered to you, and then click on ‘Check Repayment Schedule’.

Interest Rate

APR ranging from 15% to 26% | One-time Processing Fee up to 2% plus taxes.

Repayment

Flexible repayment tenure from 1 year to 3 years with pre-payment charges of 5% on principal outstanding plus applicable taxes.

Example

Loan Amount Rs.10 lakh, Interest Rate: 15%, Tenure: 3 years, equates to EMI of Rs. 34,665 per month.

This rate of interest is prone to fluctuation basis our internal credit and risk policy, and as per an algorithmic multivariate score card.
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