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Monthly Payment (EMI)
Total Interest Payable
About ICICI Bank Business Loan EMI Calculator
1.5% per month onwards
1% per month onwards
1.75% per month
from 1.25% per month
Kotak Mahindra Bank
16% to 19.99% per annum
11.90% to 21.35% per annum
17% per annum onwards
Upto 26% per annum
17% to 21% per annum
19% to 24% per annum
17.50% to 25% per annum
1% to 1.5% per month (Flat ROI)
Tata Capital Finance
19% per annum onwards
11.75% to 25.75% per annum
10.75% to 20.5% per annum
17% per annum
IDFC First Bank
There are multiple factors that a person must consider before choosing a business loan. Amongst them, the business loan EMI is a very important aspect. While computing the business loan EMI, the following 3 factors have to be considered mainly.
You can use the ICICI Bank business loan EMI calculator to compute the business loan EMI. All you have to do is enter the loan amount, loan tenure, and the interest rate. The business loan EMI gets displayed instantly. Also, you will get a thorough amortization schedule and EMI cost.
You can also use the mathematical formula presented below to compute the interest and EMI due
EMI = P × r × (1 + r)n/((1 + r)n - 1)
Let us consider an example:
P = Rs. 4 Lakhs
N = 3 years
R = 11%
The monthly loan EMI is Rs. 13,095
This formula is difficult and time-consuming to use. That is why we have a simple online tool like the ICICI business loan EMI calculator to compute the EMI. You will get an instant result. The calculator also displays the interest payable = 71,437 and the total amount payable = 4,71,437.
The amortization table is a schedule showing how the borrowed amount is repaid over the loan tenure. The EMI remains constant over the duration of the loan but the principal and the interest change over the period of the loan. You can find out the outstanding loan amount at any point of time from the amortization schedule.
For instance, Take a loan amount of 4 Lakhs in 3 years at 11%. The amortization schedule will be
The ICICI business loan EMI calculator also yields the amortization schedule. One can know the balance loan amount at any point of time.
The ICICI business loan EMI calculator is a simple and easily available tool. Using this, you can get the EMI instantly.
1. For what type of loans can I use the business loan EMI calculator?
The business loan EMI calculator can be used for all sorts of loans - business, personal, auto loans. All you need to know is the loan tenure and the interest rate.
2. How much income do you need to get a business loan?
The minimum annual turnover of your business must be Rs. 10 Lakhs and the minimum annual income (ITR) should be Rs. 2 Lakhs to get a business loan. Also, the business must be making profits for the last 2 years.
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