UGRO Capital Business Loan EMI Calculator

The UGRO Capital Business Loan Calculator simplifies calculation of prospective EMI and promotes informed credit planning. The steps listed below can help compute EMI using the digital calculator.

1. Enter the amount you want to take as a loan under the Loan Amount section by typing the value in the blank or by using the arrows and slider

2. Specify the interest rate provided by the non-banking finance company (NBFC) under the Interest Rate section

3. Enter the tenure in terms of months or years by selecting the small arrow beside Tenure and choosing the option that suits you

4. Mention the value of tenure

5. Once all data is entered, the digital UGRO Capital Business Loan EMI Calculator instantly shows the EMI, total interest, principal, and total amount payable

6. If the result satisfies your financial goals and needs, select Apply Now to choose a loan option from the well-curated credit list of Bajaj Markets

Before you calculate UGRO Capital Business Loan EMI using the digital calculator, understanding the mathematical formula used by it can be beneficial and important for due diligence.

The UGRO Capital Business Loan EMI Calculator uses the formula given below to calculate the EMI.

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

Where,

P= Loan amount borrowed

R= Monthly rate of return (Yearly rate divided by 12)

N= Loan tenure in months

For instance, if Mr. P took a ₹30 Lakhs loan for a tenure of 36 months at 24% interest rate, his EMI would be ₹1,17,699 according to the UGRO Capital Business Loan Calculator.

The table below further illustrates the various terms of UGRO Capital Business Loan. Understanding these parameters can aid in optimal EMI estimation.

The UGRO Capital Business Loan EMI Calculator is helps with fast and efficient credit planning. Discussed below are the benefits of using this calculator.

• Free Tool: The calculator is available for free and can be used as many times as you may need

• Accuracy: Using the digital calculator to calculate EMI removes the risk of error caused by manual calculations

• Comparative Analysis: You can compare the terms offered by different credit sources using the calculator and choose one that offers the lowest EMI

• Easy-to-Use: You do not need major technical know-how to use the calculator. It is efficient and easy-to-use, allowing users to calculate EMI with a few simple clicks.

• Fast Results: The calculator calculates your prospective EMI instantaneously as soon as the data is entered

• Financial Discipline: The use of the digital calculator promotes fiscal prudence as it instills the habit of independent approximation of EMI before taking credit. Thus, it helps you avoid unnecessary credit burden in the future.

• Specialised Calculator: The maximum and minimum lending rates, loan amount, tenure, etc., vary from one loan provider to another, based on their unique policy. The UGRO Capital Loan Calculator is customised according to the unique terms of UGRO Business Loan. This makes it equipped to perform informed estimations.

Along with using a business loan calculator to calculate EMI, you should also know the factors that influence the EMI and accordingly manage the EMI amount. Discussed below are some of the factors.

• Loan Amount: The EMI payable increases with increase in the loan amount. Therefore, you must avoid taking more loans than necessary to ensure credit control.

• Interest Rate: A high interest rate will automatically cause a high EMI. The business loan EMI calculator allows you to compare competitive rates and choose one that fits the best.

• Loan Tenure: The loan tenure is inversely related to EMI. The EMI reduces with an increase in tenure, as the credit gets spread over a longer duration. However, the total interest paid, which implies the cost of credit, increases with tenure. Therefore, a balance must be maintained. The digital calculators aid in judging the impact of different tenures to find the balance between low EMI and optimal total interest.

• Credit Health: Your past credit record impacts the terms offered to you in case of current loan. Individuals with high credit scores, timely repayment of past debt, and so on can anticipate better terms.

• Business Financial Health: In the case of business loans, the financial health determines credit availability. If the business has regular cashflow and sufficient profit record, it can anticipate faster disbursal at better terms.

• Pre-Payment of Debt: If you pay over and above the current EMI due, you can anticipate a fall in future EMIs.

• Interest Rate Category: The two types of interests are fixed and floating. EMI remains constant in case of fixed rate, while it changes with fluctuating interest rate in case of floating rates.

The UGRO Capital Business Loan EMI can be paid online through several means. Some of them are discussed below.

• Unified Payments Interface (UPI): You can make your payment through UPI, using online payment portals like GPay, Phonepe, Bajaj Finserv app, etc. You can also establish autopay so that the EMI gets deducted automatically as and when it becomes due, provided the bank account has sufficient balance.

• Net Banking: You can log in to the net banking portal of your bank. From bill payments or related sections, select UGRO as the bill issuer. Specify the loan account details and the system fetches the bill due. After valid OTP confirmation, you can move on to make payment through net banking.

• Debit Card: Business loan EMI can also be paid using your debit card. However, you might face some nominal charges in this case.

• Wallets: Several digital wallets can, like Paytm and Amazon Pay, can be used to make online EMI payment.