X
Findeal Loan EMI Calculator
When taking a business loan, organisation of costs and loan repayment become a significant concern in the day-to-day operations of any company. Consequently, a major chunk of time and effort is invested in scrutinising the cost structures. However, with efficient tools such as Findeal Loan EMI Calculator, one can easily bypass a lot of these efforts. Using a simple yet powerful formula, the AI-backed EMI calculator furnishes the exact amount to be paid every month against the principal business loan amount.What is the Findeal Loan EMI Calculator?
Findeal Loan EMI Calculator is an intelligent tool used for computing the equated monthly instalments (EMI) for your business loan. Powered by cutting edge AI technology, it intakes a few variables, such as loan amount, interest rate and tenure, and based on a mathematical formula, computes the monthly EMIs with precision. With the help of the EMI Calculator, borrowers can get rid of major hassle involving cost estimations.How does the Findeal Loan EMI Calculator Work?
The Findeal Loan EMI Calculator works on a simple and effective computing formula involving the loan amount, interest rate, and tenure. Users will have to feed in data in these fields to retrieve the tentative monthly EMIs against their business loan. Once they click on the Calculate button, details of their monthly EMIs along with the interest rates will be displayed on the screen, along with a comprehensive comparison of interest rates offered by the top banks of India (private, public and NBFCs. It should be noted that the desired loan amount may or may not be sanctioned as it will, ultimately, depend on the preferred bank.Note: Offering clarity and detailed analysis, the Findeal Loan Calculator furnishes precise EMI results solely based on the data fed by the user. However, as interest rates vary amongst different banks, the estimations should be approached in a speculative manner.
Business Loan EMI Calculation Formula
The formula that Findeal Loan EMI Calculator uses is as follows: EMI = P x R x (1 + R) ^ T / {(1 + R ) ^ T - 1} Here:- The Principal Amount is denoted by the variable P.
- The rate of interest is represented by the variable R.
- The tenure of the loan duration is denoted by the variable T.
Features and Benefits of Business Loan EMI Calculator
The Findeal Loan EMI Calculator offers a myriad of benefits, including the following.- Adopts a quick calculation process backed by AI.
- Furnishes error-free EMI estimates.
- Requires only three entries comprising the loan amount, interest rate and tenure, offering a more convenient, compact and hassle-free process.
- It can be accessed from both computer and mobile phone.
- The improved user interface of the calculator helps users get a graphical visual representation of the data making way for augmented clarity.
What are the Factors Affecting Business Loan EMI?
There are majorly three factors that affect a business loan EMI, namely the principal loan amount, interest rate, and tenure.-
Principal Loan Amount
-
Interest Rates
-
Tenure
Comparison of Business Loans offered by Various Banks/NBFCs
Various top banks and NBFCs provide business loans at reasonable interest rates against flexible tenures. Based on individual requirements, companies can approach these banks for a business loan that would suit their needs. But it is always advised to check the eligibility beforehand via the Findeal Loan Eligibility Calculator.
Feel free to use Findeal Finance Calculator
₹
₹
Period | Payment | Interest | Balance |
---|
Calculator Disclaimer
The repayment amount shown using this calculator is an estimate, based on information you have provided. It is provided for illustrative purposes only and actual repayment amounts may vary. To find out actual repayment amounts, contact us. This calculation does not constitute a quote, loan approval, agreement or advice by My Finance. It does not take into account your personal or financial circumstances.