Calculating the EMIs of your business loan is easy when you use an online calculator. A manual calculation can be challenging since EMIs are based on the loan amount, repayment tenor, and interest rate.
To calculate it manually you can use the following formula:
E = P x r x (1 + r) ^ n / [(1 + r) ^ n - 1]
- E is the EMI
- P is the principal or loan amount
- r is the rate of interest (calculated monthly)
- n is the tenor (calculated monthly)
Or, use our Business Loan EMI Calculator to get quick and accurate results of your monthly instalments.