Calculate Term Loan EMI & Interest Online
Regardless of their nature and scale, businesses need funds at every step of their operations. From working capital to meeting operational expenses or even expanding into different areas, a lot of investments are required upfront to keep the firm running.
The financial requirement could vary with the nature of the business, its scale, and its purpose. Companies prefer to opt for term loans for this purpose as they tend to offer competitive rates and are flexible in their structure. Companies can fix a repayment schedule most suitable to them while availing of a Term Business Loan. The instalments and frequency can be decided with the help of a Term Loan interest calculator.
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EMI Amount = *
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 | ₹1,000 per bounce plus applicable taxes |
| Late Payment Charges | 3% per month |
| Loan Amount | ₹1 Lakh to ₹50 Lakhs |
| Lowest EMI per month | Starting from ₹3,467* per Lakh for 36 months |
| Loan Tenure | 6 - 36 months |
| Prepayment/Foreclosure Charges | 0%* If paid from own sources |
| Stamp Duty | At actuals (as per state) |
| Penal Interest | 3% monthly on the defaulted EMI amount |
What is Term Loan?
A Term Loan is the fund borrowed from a lender for a specific tenure. It is bound by a repayment schedule. The lender charges interest on the loan. 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
Largely, Business Term Loans can be broadly divided into 3 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 this loan. The loan tenure can last for 6 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 3 years fall in this category.
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 Term Loans are tailored to meet business owners’ needs. The fixed repayment schedule helps businesses to know their interest outgo using the Term Loan interest calculator online.
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Higher loan disbursal amounts
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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 disbursal amounts
Without adequate finance, no business can thrive and flourish. Poonawalla Fincorp makes available loan amounts up to ₹50 Lakh to meet your working capital and business expenditure needs. With our financing, your business operations can run smoothly without any interruption.
Quick disbursals
Quick disbursal is another major benefit of the term loan. 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
Another benefit offered by us is collateral-free Term Loans. This ensures that 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 needing to look 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 offered by us make sure that you have funds right when you need them, without any delay. Online loan applications and fast processing help businesses in this context.
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 very simple, your loan is approved instantly, and you have your account credited with the funds right away.
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 loan 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 : Greater your loan amount, the greater your 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 is 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 all through the period of payment.
It is necessary to calculate the term loan EMI before availing of the loan for obtaining clarity and getting help with better planning. It helps you as a business owner for securing financing that suits your goals best.
*Terms & Conditions Apply
