Fulfil big-ticket investment requirements of your organisation with a high-value Business Loan of up to Rs.45 lakh from Bajaj Finserv. Use a business loan EMI calculator to calculate interest, estimate fixed outflow as instalments and plan your finances accordingly. An estimation of EMIs and interest payable facilitates proper financial planning.
Also known as a business loan interest calculator, the tool allows a borrower to foresee the total interest payable by the tenor’s end. It thus helps compare business loans from different lenders and lets you opt for the most affordable alternative. Individuals can also select a suitable instalment amount that fits their repayment capacity and decide on the loan amount and tenor basis payable EMIs.
Business Loan EMI Calculation Formula:
The basic formula to compute EMI as per applicable interest rate on your business loan is given below. Bajaj Finserv Business Loan EMI calculator uses the same formula to compute instalments.
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
Here’s an example of how to calculate business loan EMI.
A borrower avails a business loan (P) of Rs.45 lakh whose applicable interest rate (r) is 18%. The loan tenor (n) stands at up to 84 months. Given the above formula, the EMI calculation will be as follows.
E = 30,00,000 x 18%/12 x (1+18%/12) ^4/[(1+18%/12) ^4 – 1)]
E = 88,125
Therefore, the EMI for a business loan of Rs.45 lakh at 18% interest rate for 4 years will be Rs.88,125.
Use the Bajaj Finserv Business Loan EMI Calculator and determine the interest component in your EMIs. The tool is simple to use. All you are required to do is enter the required details to arrive at the results. Enter the following information in the business loan interest calculator.
Loan amount, with the maximum capacity of Rs.45 lakh
The tenor of the loan in months, say up to 84 months if you opt for a 7-year long tenor
Applicable interest rates, which starts at 18% for Bajaj Finserv Business Loan
Once the values are entered, the tool calculates three results, namely –
Total interest payable
Total payment (Inclusive of Principal and interest)
Use the Bajaj Finserv Business Loan EMI calculator to determine your loan amount and suitable tenor. Consequently, fulfil the minimum eligibility and apply for a Business Loan with Bajaj Finserv to meet diverse funding requirements of your business.
MSME stands for Micro, Small and Medium Enterprise. It was introduced by the Government of India in agreement with the Micro, Small and Medium Enterprises Development (MSMED) Act of 2006. As per this act, MSMEs are the enterprises involved in the production, processing or preservation of goods and commodities. Vital for economic growth, this sector contributes around one-third of the country’s GDP and generates employment for around 110 million of the population.
It also plays an important role in the socio-economic development of the country as many of these enterprises operate in rural India. According to the Government's annual report of 2018-2019, more than 6 lakh MSMEs operate in the country.
Initially, MSMEs were classified based on two factors - investment in plant/machinery and an annual turnover of the enterprises. However, the Ministry of Micro, Small and Medium Enterprises has recently revised the classification by combining these two factors into a single criterion.
The MUDRA loan is provided under the Pradhan Mantri MUDRA Yojana (PMMY) to non-farming and non-corporate micro and small enterprises. These enterprises can avail loans up to Rs.10 lakh under the MUDRA (Micro Units Development & Refinance Agency Ltd.) scheme.
We have discontinued this product (MUDRA Loan) at this time. Please reach out to us on +91-8698010101 to know more about the current financial services provided by us.
|Loan amount under Shishu||Up to Rs.50,000|
|Loan amount under Tarun||Rs.50,001 to Rs.500,000|
|Loan amount under Kishore||Rs.500,001 to Rs.10,00,000|
|Processing fees||0.5% for Tarun Loan, nil for others|
|Eligibility criteria||New and Existing Units|
|Repayment period||3-5 Years|
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