You can calculate business loan EMI in a few quick steps. The process stays simple and helps you plan your repayment with clarity.

1. Enter the loan amount you want up to ₹80 Lakhs based on your eligibility

2. Add the rate of interest offered by the lender

3. Select the loan tenure between 12 and 96 months

4. Review the EMI amount displayed instantly

5. Check the total interest and overall repayment cost to understand your monthly payments

In this way, the business loan calculator helps you estimate your EMIs accurately and compare loan terms before you apply.

The EMI for a business loan is calculated using the following formula:

EMI = P x R x (1+R)^N / [(1+R)^N - 1]

Where:

• P is the principal loan amount

• R is the interest rate

• N is the loan tenure

Let’s break it down with an example: 

Assume you’ve taken a loan of ₹10 Lakhs at an interest rate of 9.75% p.a. for a tenure of 24 months.

• P = ₹10 Lakhs

• R = 9.75% p.a.

• N = 24 months

The annual interest rate needs to be converted to the monthly numeric value before using it in the given formula. In this case: 

R = 9.75 / 12 / 100 

Thus, R = 0.008125

Next, let’s enter the loan details in the formula:

EMI = {1000000 x 0.008125 x (1 + 0.008125) ^ 24 / [(1 + 0.008125) ^ 24 - 1]}

Now, let’s solve this:

EMI = {1000000 x 0.008125 x (1 + 0.008125) ^ 24 / [(1 + 0.008125) ^ 24 - 1]}

EMI = [1000000 x 0.008125 x 1.214354 / (1.214354 - 1)]

EMI = (1000000 x 0.008125 x 1.214354 / 0.214354)

EMI = ₹46,029.59

Such manual calculations can be quite tedious and time-consuming. Also, the possibility of errors and miscalculation is quite high. An EMI calculator for business loans can complete these complex computations much more efficiently and also provide other essential information. This includes the total interest charges, and aggregate repayment cost.

You get clear and quick insights when you calculate business loan EMI online. The tool helps you make better decisions with less effort. 

• Real-time comparison of EMI amounts and total repayment costs from multiple lenders

• Accurate EMI results are obtained using a precise formula, so you avoid manual errors

• Save time with instant calculations and focus more on your business

• Unlimited free checks to test different loan terms and find the best fit

• Easy interface that lets you understand your monthly instalments at a glance

• Access anytime on the Bajaj Markets website or app, using any device

These benefits help you plan your repayment with confidence and choose the right business loan.