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Machinery Loan EMI Calculator

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Loan AmountINR
TenorMonths
Rate of InterestPercent
 

Total Interest Payable

Rs.1,750

Total Payment (Principal+Interest)

Rs.1,01,750

Your EMI will be per month

Rs.1,01,750

 

What is a machinery loan EMI?

Bajaj Finserv offers an unsecured machinery loan or equipment loan which can be used to purchase new machinery or repair existing ones, thus improving business productivity. Machinery loan EMI is a fixed amount that the borrower must pay every month towards the loan repayment throughout the entire loan term. It is one of the easiest ways to pay off the loan as the repayable amount is distributed in smaller instalments over the entire tenor.

An EMI is a fixed amount comprising the loan principal and the interest accumulated on it. This way, the total loan amount along with interest gets cleared off without straining one’s budget.

You can now calculate your EMIs easily using the machinery finance calculator before applying for the loan.

What is a machinery loan EMI calculator?

It is also known as a heavy equipment loan calculator or equipment lease payment calculator. The machinery loan calculator from Bajaj Finserv is an online EMI calculator which allows you to instantly evaluate your monthly instalments or EMIs.

What are the benefits of using a machinery loan calculator?

Below are the benefits of using this machinery loan calculator.

  • A prior estimate of an EMI helps you to apply for a loan amount that suits your repayment capacity.
  • It helps you to select your loan tenor and manage your finances better.
  • It also aids a business to manage its cash flow better and meet every short-term monetary need with ease.

How does this equipment finance calculator work?

You need to enter the following information into the machinery loan calculator to know your EMIs.

  • The total loan amount you need.
  • The rate of interest
  • The tenor of the loan

It computes the EMIs according to the following formula:
E = P * r * (1+r)^n / ((1+r)^n-1)

Here,

‘E’ stands for EMIs
‘P’ stands for the principal amount
‘R’ stands for the rate of interest per month
‘n’ stands for loan tenor in months

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