If you are applying for a Business Loan, you have to check what rate of interest the lender is offering. The Business Loan interest rates depends on the principal amount as well as the loan tenor.
Our Business Loan EMI calculator uses the following formula to calculate the interest rate on Business Loans:
• 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
You can refer to the Bajaj Finance Business Loan EMI calculator.
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