MSME Loan Interest Rate

What is the interest rate on MSME Loan?

An MSME loan by Bajaj Finserv is a perfect financial solution to meet the planned/unplanned expenses of your small business. This collateral-free loan comes with an attractive rate of interest and a nominal processing fee of up to 2% (plus taxes). There are no hidden charges as all the terms and conditions are transparently mentioned for your clear understanding.

Bajaj Finserv offers low interest rates along with nominal fees and charges on its MSME Loans. This ensures that your enterprise can pay its EMIs affordably.

MSME Loan EMI Calculation

EMI stands for Equated Monthly Instalment. It is a fixed monthly payment made by the borrower towards repayment of the loan. This small monthly instalment comprises both the principal amount and the accrued interest.

Bajaj Finserv offers a flexible repayment tenor of up to 84 months on MSME loans to ease the process of repayment. This long tenor lets you spread out your EMIs and make the credit facility affordable. You can also use our online EMI calculator to know the exact amount of your monthly outgo and total payable interest in just a few minutes.

How to Calculate MSME Loan EMI

Manual calculation of monthly instalment can be time-consuming and might give you an erroneous result. In such a situation, the MSME Loan EMI Calculator can help you as it is simple to use and gives accurate results in a few minutes.

You can calculate your EMI by giving the following information:

• Principal
• Rate of interest
• Tenor

This online calculator uses the following formula

EMI=P*r* (1+r) ^n/ [ (1+r) ^ n-1)

Here, P stands for the principal or loan amount

R stands for the rate of interest

N stands for the tenor

With this online tool, you can also try different combinations of loan amount and tenor to arrive at an EMI that fits your repayment capacity.