Interest rates on your business loan depends on the principal amount you want to borrow as well as the loan tenor.
The basic formula to calculate the interest rate on your business loan is:
E = P * r * (1+r)^n / ((1+r)^n-1)
• E is EMI
• P is the Principal Loan Amount
• r is the rate of interest calculated on a monthly basis
• n is the tenor/duration of the loan
Check out Bajaj Finserv Business Loan EMI Calculator and determine the interest component of your business loan.
Manage operational expenses
Up to Rs. 30 lakh | Flexible tenor options
Funds to upgrade machinery
Up to Rs. 30 lakh | Pay only interest as EMI
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Up to Rs. 30 lakh | Approval in 24 hours
Avail customized loans
Up to Rs. 30 lakh | Minimal documentation