Calculate Term Loan EMI & Interest Online
Businesses need funds at every step of their operations regardless of the nature and scale. From working capital to meeting operational expenses or even expansion of the business, a lot of investments are required upfront to keep the firm running efficiently.
The financial requirement could vary with the nature of the business, scale, and purpose. With exclusive features such as competitive interest rates and flexible repayment, companies prefer to opt for Term Loans to meet their various financial purpose. Companies can select a repayment schedule most suitable to them while availing of a Term Business Loan. Term Loan Interest calculator is one of the most important factors while deciding the instalment and frequency.
Term Business Loan Interest Rates
| Types of fee | Applicable Charges |
| Rate of interest | 15% to 28% p.a.* |
| Processing fees | Up to 3% plus applicable taxes |
| Bounce charges | ₹500 per bounce plus applicable taxes |
| Late Payment Charges | 2% per month |
| Loan Amount | ₹5 Lakh to ₹50 Lakh |
| Lowest EMI per month | Starting from ₹3,467* per Lakh for 36 months |
| Loan Tenure | 6 - 36 months |
| Prepayment/Foreclosure Charges | 5% on principle outstanding plus applicable taxes |
| Stamp Duty | At actuals (as per state) |
| Penal Interest | 2% monthly on the defaulted EMI amount |
What is Term Loan?
A Term Loan is the fund borrowed from a lender for a specific tenure. A repayment schedule binds it. The lender charges interest on the borrower amount. The interest on the loan can be calculated using a Term Loan interest calculator. The lender may charge a floating or fixed rate of interest on the Term Loan.
Types of term loans
Business Term Loans can be broadly divided into three sub-categories- Businesses can avail of these term loans as per their unique business needs.
- Short-term Loan: Businesses can meet their short-term fund needs with Short-term loan. The loan tenure can last for six months but can extend up to 18 months in certain cases.
- Intermediate-term loan: Term Loans with a repayment schedule within a range of 1 year to 3 years are called intermediate-term loans.
- Long-term loan: Term Loans with a repayment tenure of over three years is categorised under long-term loan.
Short-term and intermediate-term loans are unsecured loans. This implies that borrowers do not need to pledge any assets to avail of these Term Loans. A long-term loan, on the other hand, is a secured loan, implying that the loan would be given against collateral.
Term Loan Features and Benefits
Poonawalla Fincorp’s Term Loans are tailored to meet various financial requirements of any business. The fixed repayment schedule helps companies to know their interest outgo using the Term Loan interest calculator online.
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Higher loan amount
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Quick disbursals
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Collateral-free loans
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Competitive interest rates
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Fast approvals
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Plan repayment schedule
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Availability of online processing
The varied benefits of availing of our Term Loan are as listed below:
Higher loan amount
No business can thrive without adequate finance, especially in today’s competitive world. Term Loan helps you run your business operations smoothly without any interruption. With Poonawalla Fincorp’s Term Loan, you can avail loan amount of up to ₹50 Lakh to meet your working capital and business expenditure needs.
Quick disbursals
We understand the hectic and busy schedules of business owners and offer a no-hassle experience when you need funds. Quick loan disbursals are ensured, which helps in minimizing delays.
Collateral-free loans
Collateral-free loans ensure you do not need to pledge personal or business assets in exchange for the loan. In times of a liquidity crunch or any business emergency, you can avail of our unsecured loan without looking elsewhere for funds or spending time arranging for collateral.
Competitive interest rates
Poonawalla Fincorp offers competitive interest rates on Term Loans. It ensures low outgo towards interest payments for servicing your Business Loan, which becomes a cost-effective solution for meeting your business needs.
Fast approvals
Quick Term Loan sanctions ensure you have funds right when needed, without any delay. Online loan applications and fast processing help businesses avail the loan faster.
Plan repayment schedule
We offer a flexible tenure that can extend up to 36 months. This way, your business will not be affected in any way due to loan EMIs.
Availability of online processing
The ease of online processing cannot be undermined; you get access to funds digitally from the comforts of your home. The online process is straightforward: your loan is approved instantly, and your account is credited with the funds immediately.
What is a Term Loan Interest Calculator?
The Term Loan interest calculator, also known as the EMI calculator, is an online tool that helps in calculating your EMI before you begin the loan application process.
How to Use Online Term Loan Interest Calculator?
For using the Term Loan interest calculator, you need to provide certain basic details such as-
- Loan Amount
- Repayment tenure
- Rate of interest
Once you input these details in the required sections of the Term Loan interest calculator, your loan EMI is calculated automatically and displayed under the section ‘EMI Amount’. This will signify your monthly payout for servicing the loan.
Benefits of Term Loan Interest (EMI) Calculator
When you use a Term Loan interest calculator, you get the following benefits-
- You get an approximate idea of the EMI pay-outs throughout your Term Loan
- This is a time saver as it facilitates efficient loan planning
- The availability of an amortization schedule enables you to get an in-depth outline of the availed loan
- Facilitates better planning of your finances for the future
- Opportunity to opt for multiple schedules and choose your EMI instalment tenure
Factors Affecting Term Loan EMIs
- Amount of loan : The Higher loan amount, the higher EMI and vice versa. However, the repayment tenure of your loan will also affect the overall cost of the loan.
- Interest rate: It is a vital factor in deciding your loan EMI. Do not always opt for the lowest interest rate while comparing varied loan options from various lenders. Look closely at all the terms and conditions and check out for any hidden charges.
- Repayment tenure: The longer your repayment tenure, the lesser your EMI, while the shorter the repayment tenure, the higher will be the EMI amount.
Apply for Term Business Loan within 5 Minutes
Apply
Online
Apply Online
Click on Apply Now and enter your contact details.
Business
Details
Business Details
Enter your annual business turnover and other business details.
Verification
Verification
The application will then proceed for verification and assessment
Term Loan EMI Calculator FAQs
You can avail of a term loan up to ₹50 Lakh to meet your working capital and business expenditure needs.
A minimal fee is required to be paid as foreclosure charges. It is 5% of the outstanding principal, in addition to extra taxes as applicable.
The factors considered for ascertaining the rate of interest on the term loan include:
- Amount of loan
- Credit score
- Period of operation of the business
- Balance sheet
There are no hidden charges involved in a Term Loan from Poonawalla Fincorp. There is total transparency in all operations. We only charge what is communicated. No obscure costs will be added to your total bill.
The interest amount in the EMI remains fixed throughout the period of payment.
It is necessary to calculate the term loan EMI before availing of the loan to obtain clarity and get help with better planning. It helps you as a business owner for securing financing that suits your goals best.
*Terms & Conditions Apply
