Check Your Business Loan EMIs
Estimate your monthly instalments within seconds with our Business Loan EMI calculator. Adjust the sliders to calculate your EMIs instantly and make an informed decision. Calculate now!
Steps to Calculate Business Loan EMIs
Calculating your Business Loan EMIs is easy and hassle-free. Just adjust the sliders to:
Step 1: Enter the loan amount.
Step 2: Enter the interest rate offered to you.
Step 3: Enter your preferred loan tenure.
The Business Loan EMI calculator will show the estimated amount of your monthly instalment.
Factors That Affect EMIs
- Loan Amount: This is the sanctioned amount you receive upon Business Loan approval. 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. High-interest loans lead to higher EMIs as compared to loans with lower rates. You can secure a Business Loan from Poonawalla Fincorp at competitive interest rates.
- 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 loan is a better fit.
Benefits of a Business Loan EMI Calculator
Get the following benefits of using an EMI calculator:
- Choose a Convenient Tenure: Use the EMI calculator to select a loan tenure at your financial comfort.
- Plan Loan Repayment: Plan your loan repayment as per your financial standing.
- Simplify EMI Calculations: The EMI calculator is easy to use and allows you to understand factors such as loan tenure, loan repayment, monthly EMI, etc. It is advisable to use the EMI calculator while applying for a Business Loan.
How to Minimise your EMIs
There are four ways to reduce the EMI amount:
- Lower the Loan Amount: Choose a lower loan amount to minimise your EMIs. You can also check how much the EMI will reduce with the Business Loan EMI calculator by adjusting the loan amount field.
- Opt for a Longer Tenure: Opt for a longer tenure to spread your EMIs over a longer period. Do remember that this option will make you pay more interest on the Business Loan.
- Secure a Lower Interest Rate: If you manage to secure a loan at a lower interest rate, you can reduce the EMI amount. Having an excellent credit score can help you to achieve the same.
- Prepay Your Loan - Prepay some part of your Business Loan at least once during the loan tenure. This will reduce the remaining loan amount, leading to lower EMIs.
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Frequently Asked Questions
The interest rate is decided based on the market conditions, the lender’s credit policy, and the applicant’s financial profile.
Yes. You can use the Poonawalla Fincorp's EMI calculator for free.
You can simply enter the accurate values into the EMI calculator and click on ‘Download Repayment Schedule’. A PDF file will be automatically downloaded with all the details.
The Business Loan EMI calculator is a tool that can come in handy when planning a loan. As a business owner, you can use it to identify suitable repayment plans based on your business goals.
To access the amortisation schedule, all you need to do is calculate your EMI amount based on the loan terms offered to you with the help of an EMI calculator and then click on ‘Check Repayment Schedule’.
The MSME Loan calculator is used by micro, small and medium enterprises for calculating the EMI they need to pay after borrowing a loan from a creditor. The EMI calculator and MSME EMI calculator are the same in terms of usage.
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