Compare
| month | Starting Balance | EMI | Interest rate | Principal contribution | Interest contribution | Ending Balance |
|---|
EMI term
-
Total amount payable₹ 5,000 ₹ 5,000
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Interest rate₹ 8.99% ₹ 8.01%
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Total interest₹ 8.99% ₹ 8.01%
-
Total interest₹ 5,000
EMI term
-
Total amount payable₹ 5,000 ₹ 5,000
-
Interest rate₹ 8.99% ₹ 8.01%
-
Total interest₹ 8.99% ₹ 8.01%
-
Total interest₹ 5,000
Business Loan EMI Calculator - Overview
We at Finserv Markets understand the various struggles business owners go through to get set-up business, manage its day-to-day functioning and enable it to grow. However, setting up a new office, training your staff, purchasing new equipment, or installing a new software, definitely requires financial assistance. Business loans from Finserv Markets are just the right product to help you grow your business.
For small and medium enterprises or start-ups, not having cash at hand (liquid cash) when needed, can be stumbling block when it comes to business progress. This is where a business loan helps. Its you to finance high-end investments while ensuring zero burden on your working capital arrangements.
Now that you have decided to opt for a business loan, you need to plan for repayment (EMIs) and other monthly business commitments in advance. The aim is to pay the EMIs on time without defaulting. To ensure this, you need to know the exact monthly outflow of your EMI amount. The Business Loan EMI Calculator by Finserv Markets is the quickest way to know this.
An EMI consists of two components. One is dedicated towards the principal repayment, while other is directed towards the interest. During the initial years, the interest component of the loan is higher. However, once you move towards the end of the tenure, the interest component becomes less and the principal repayment amount increases.
The ‘Business Loan EMI Calculator’ is an online tool by Finserv Markets, which asks you to provide certain inputs so that the built-in calculator can give you the exact amount you will need to shell out every month for repaying the loan. The three important inputs are:
- Loan amount
This is the principal amount of loan that you wish to avail from us.
- Rate of interest
This is the interest rate, which is required to be paid. The rate of interest is the cost that is paid on this loan. You can enter the interest rate on the business loan as mutually agreed upon with us.
- Loan tenure
The next input is the loan tenure or loan duration. This is the total term, throughout which the loan is repaid.
The inputs are taken on a sliding scale, which allows you to change the values according to your preference. The amount of EMI is calculated with just a click. Whenever you change the inputs, the EMI result changes accordingly.
How is the business loan EMI calculated?
Let us say you have borrowed INR 25 lakh as a business loan from a bank at the rate of 18% for a period of 10 years or 120 months.
- Loan amount
- Tenor
- Rate of interest
The formula used is:
E = P * r * (1+r)^n / ((1+r)^n-1)
Where ‘E’ is EMI
‘P’ is the Principal Loan Amount
‘r' is the rate of interest calculated on a monthly basis
‘n’ is the tenor or duration of the loan
Your EMI as per the formula would be: INR 25 lakh*0.010*(1+0.015)^120/((1+0.015)^120-1))= INR 49,308 per month. In a span of 120 months, you will end up paying INR 47,33,574. Out of this, INR 22,33,574 will be towards the interest.
How to use the ‘Business Loan EMI Calculator’
Calculating the Business Loan EMI is really a simple process. You need to click on the ‘Business Loan Calculator’ on the Finserv Markets website. After that, all you need to do is to input the loan amount, rate of interest, and loan tenure to get the required information. You will instantly get the amount of EMI that you need to pay for the business loan according to those inputs.
What are the benefits of a ‘Business Loan EMI Calculator’?
A Business Loan EMI Calculator helps you gauge the monthly amount that you would be required to keep aside for a business loan. Maintaining the cash flow cycle of the business and ensuring sufficient liquidity to meet contingent expenses is of utmost importance. Once you are sure that you can meet the EMI payments regularly, you will be able to enter into an agreement with us. You can also negotiate on the rate of interest or the tenure of the loan so that you can avail of an EMI that can be easily managed by you.
We at Finserv Markets understand the various struggles business owners go through to get set-up business, manage its day-to-day functioning and enable it to grow. However, setting up a new office, training your staff, purchasing new equipment, or installing a new software, definitely requires financial assistance. Business loans from Finserv Markets are just the right product to help you grow your business.
For small and medium enterprises or start-ups, not having cash at hand (liquid cash) when needed, can be stumbling block when it comes to business progress. This is where a business loan helps. It’s you to finance high-end investments while ensuring zero burden on your working capital arrangements.
Now that you have decided to opt for a business loan, you need to plan for repayment (EMIs) and other monthly business commitments in advance. The aim is to pay the EMIs on time without defaulting. To ensure this, you need to know the exact monthly outflow of your EMI amount. The Business Loan EMI Calculator by Finserv Markets is the quickest way to know this.
Manage all your queries here
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Why should I avail of a Business Loan online?
Taking a Business Loan online is faster, secure, hassle-free and transparent. It will save you a lot of time and effort.
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Why should I choose you for my Business Loan?
Through our online process, you can avail of a loan from the comfort of your home. No paperwork. No agents. And it's super secure. You can choose from a variety of exclusive loan products which suits your need.
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Do I have to provide any security, collateral or guarantors?
No, we don't ask for any kind of security or guarantee.
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Can I carry out the application process in a conventional manner offline?
Sorry, we only have an online presence and recommend online transactions for quick processing and convenience.
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Do you offer balance transfer facility for a Business Loan?
We don’t have the facility of balance transfer for Business Loan.
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How secure is my information?
All your sensitive information like personal/financial information is encrypted and safeguarded with our best in class security systems. We don't share your information with any marketing agencies or any 3rd party without your consent.
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What are the basic personal loan eligibility criteria for a self employed individual?
You can apply for a personal loan if: 1. You are a self-employed individual with at least 4 years of business experience. 2. You are between 25-65 years of age
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Can I avail of a Business Loan if I am an NRI?
We are sorry. We currently serve only Indian residents.
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What is the minimum and maximum tenure that I can avail of?
You can avail of a Personal Loan for a tenure ranging from 1 year to 5 years (with annual renewal option for interest servicing loan).
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Is there a minimum limit on part payment?
There is no minimum limit on part payment in case of Hybrid Flexi Loan but there is a minimum limit of one EMI for part payment in case of a Term Loan.
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When can I make the part-payment?
You can make part-payments at any time after paying the first EMI of a Term Loan.
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How many times can I make a part-payment?
There is no limit to the number of part payments in Hybrid Flexi Loan and in Term Loan. However, a maximum of 6 part payments can be made in a year.
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When can I foreclose my Business Loan?
You can foreclose your loan after paying your first EMI.
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How will a part-payment change your EMI and/or tenure?
Part payment paid will be adjusted to the principal amount which results in a reduced monthly interest in case of Hybrid Flexi Loan. For Term Loan, you can keep the EMI same and reduce the tenor or you can keep the tenor same and increase the EMI.
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How much amount can I withdraw on my Term Loan?
Sorry, the withdrawal facility is not available on a Term Loan.
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Why do Hybrid Flexi Loans have a higher interest rate than Term Loans?
You can actually save on interest payments even though the base rate is marginally higher than a Term Loan. The innovative customer friendly features that come with Hybrid Flexi allows you flexibility and control on your loan repayment which can help you minimize the interest you pay. In case of any fund requirements, you can always withdraw from the part payments with funds instantly credited to your bank account.
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What documents do I need to submit to avail of a Personal Loan for self employed?
You provide us with the digital copies of all your documents. Usually, for a personal loan/line you would need to provide proof of identity, proof of current address, proof of qualification, SPDC and a cancelled cheque.
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How do I check my Business Loan eligibility?
You can visit our Eligibility Calculator section for a quick check on your Business Loan eligibility.
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Why do I need to provide my bank account credentials while applying?
We fetch your last 1 month bank statement directly from your bank thus saving you the trouble of uploading the documents.
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Can I get a loan anywhere in India? What is the maximum loan amount that I can get?
We are present in 35 major cities in India. You can avail of a loan of up to Rs.25 lakhs subject to your eligibility.
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What are my EMI dates? Can I change them?
You can schedule your EMI payment date as the 2nd or 5th of every month. You may change your EMI dates after paying a nominal fee.
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How can I change my tenure?
You can change your tenure by making part payments.
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What is the loan processing fee?
2% of the loan amount is charged as Processing Fee. This fee is deducted from the loan amount.
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What are the part-payment charges?
There are no part-payment charges on Hybrid Flexi loans. Term Loans come with a 2% part-payment fee.
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What are the foreclosure charges?
We charge you 4% of the outstanding principal as foreclosure charges.
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Are there any annual maintenance charges for Hybrid Flexi Loan?
It is 0.25% on the loan amount.
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Are there any other hidden charges?
No. We commit 100% transparency to you. There are no hidden charges at all.
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What are the EMI bounce charges?
We charge Rs. 1,000 per bounce for your Business Loan repayments.
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What are the penal charges for my Business Loan?
We charge 2% per month on overdue amount.
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What happens if my EMI payment bounces?
It is advised that you maintain sufficient funds in your account for clearing loan EMIs regularly. However, in case of an EMI bounce we would be charging bounce charges of Rs. 1,000 per bounce. You could also attract penal charges on further delay in paying the EMI which can impact your credit score.
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How do I get my loan foreclosure letter?
The foreclosure letter can be downloaded by logging in to our Customer Portal.
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How do I make a loan part-payment?
Login to our Customer Portal and go to make part-payment.
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How can I foreclose my loan?
Login to our Customer Portal and go to foreclose your loan.
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How do I pay my EMIs?
Your EMIs will be auto deducted from your bank account via automatic ECS instruction.
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What is the procedure to withdraw out of part payments made?
Log in to our Customer Portal and select the additional withdrawals tab.
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Where will I get the disbursed loan amount?
The loan amount will be credited directly to your bank account.
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What is ECS-mandate?
ECS is an electronic mode of funds transfer from one bank account to another. You need to inform your bank and provide a mandate that authorizes the institution, who can then debit or credit the payments through the bank. The mandate contains details of your bank branch and account particulars.
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How do I track the status of my online application?
Login to our Customer Portal to track the status of your application.
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How can I make my overdue payments?
You can pay your overdue EMIs online through the Customer Portal. This facility is offered to customers who have Net Banking activated for their Bank account.
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How long does it take for the part-payment or withdrawal to reflect in the statement of account?
The part-payment or withdrawal will reflect in your statement within 30 minutes.
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Where can I view my EMI status?
You can view and also download your Statement of Account or Repayment Schedule on Customer Portal. Alternatively, your statement of account will be forwarded to your registered email ID every month.
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How can I get my loan account statement?
You can view and also download your Statement of Account or Repayment Schedule on Customer Portal. Alternatively, your statement of account will be forwarded to your registered email ID every month.
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Where can I view my outstanding loan amount?
You can view and also download your Statement of Account or Repayment Schedule on Customer Portal.
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Where can I access my loan documents?
Scanned copies of your loan documents are available on the Customer Portal.
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