An MSME loan EMI calculator is a simple tool that effectively helps plan your monthly loan repayment obligations. All you have to do is enter the loan amount, the estimated rate of interest and the repayment tenor arrives at a near-accurate number.
Month | Starting Balance | EMI | Interest rate | Principal contribution | Interest contribution | Ending Balance |
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The MSME loan EMI calculator is exceptionally convenient to use. Follow these quick and simple steps to use the EMI calculator
Enter the total loan amount.
Next, select a suitable loan tenor as per your preference.
Enter the loan interest rate.
Click on the ‘Submit Button’ to generate the estimated value.
The lender charges the interest to service the MSME business loan. It is calculated as a percentage of the principal amount. The interest components are further referred to as nominal interest and the APR. The nominal interest rate is the annual interest rate. On the other hand, APR is the total yearly cost that includes the processing fee, administrative fee, and more. The effective interest rate is calculated using the given formula (1+r) n-1, here, r is the applicable periodic interest rate.