The loan repayment process appears to be very simple but needs a lot of careful planning. Paying EMIs on time requires managing the finances efficiently so that your monthly budget does not dwindle. By using the Business Loan EMI Calculator available on Bajaj MARKETS, you can calculate the monthly EMIs that need to be repaid for your Business Loan from Prefr Partners, so that your finances are in place.
|Month||Starting Balance||EMI||Interest rate||Principal contribution||Interest contribution||Ending Balance|
The business loan calculator by Bajaj MARKETS is a simple online tool, with which you can find out the EMI that you need to pay per month. There are three inputs, which you need to enter to find out the EMI. They are as follows:
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 every month
‘n’ is the tenor or duration of the loan
Use our Business Loan Calculator to calculate your EMI instantly
The main benefit of the EMI Calculator is that you can calculate the exact amount that you need to pay monthly before actually paying it. This will help you plan your monthly budget accordingly. Also, you can realize how much amount that you can set aside for your EMIs and how much for monthly expenses. Check out the business loan eligibility criteria to find out if you qualify for the Business loan from Prefr Partners.
The Business Loans from Prefr Partners available on Bajaj MARKETS are custom-made and convenient to all your financial needs. The end-to-end online process is very smooth and you can proceed with minimal documentation requirements within a few simple steps.