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Monthly Payment (EMI)
Total Interest Payable
The SBI Business Loan calculator is a simple and easy-to-use online tool. All you need to do is enter the principal amount, rate of interest, and the time period given by the bank for repayment. You can see the details of your EMI instantly. The total amount payable, the principal amount, and the total interest payable are also shown.
About SBI Bank Business Loan EMI Calculator
1% per month onwards
1.5% per month onwards
from 1.25% per month
1.75% per month
11.90% to 21.35% per annum
Here is the formula to compute business loan EMI
E = [P x R x (1+R) ^N] / [(1+R) ^ (N-1)]
E = EMI, P = Principal amount, R = interest rate, N = Loan tenure.
Let us consider an example:
P = 50 Lakhs, R = 10%, N = 5 years
E = [50,00000 x 10/100 x (1 + 10/100)^5]/ [(1 + 10/100)^(5 -1)]
The EMI calculated = 106235
The total interest = 1374113
Using the above formula is a cumbersome task and that is why the online SBI business loan EMI calculator has been developed. All you have to do is to enter the loan amount, loan tenure, and interest rate, and the result will be displayed instantly.
Step 1: Move the sliders for the parameters – Principal, loan tenure, and rate of interest and place them at the required values.
Step 2: The calculator displays the EMI instantly.
Step 3: The total interest payable is also displayed.
Amortization is the process of dividing a loan with a fixed rate into equal installments. The computation of the principal and interest amount to be paid monthly in the form of EMIs is broken down into an amortization schedule. Let us now understand the amortization table with a quick example:
Let the loan amount be 10 Lakhs, interest rate be 16.99%, and tenure in months be 60.
The monthly EMI will be Rs. 24,847
The total interest amount is Rs. 4,90,832
The total amount (Principal + interest) is Rs. 14,90,832
The tenure in months is 60
The amortization schedule is
Rs. 2,30, 151
The SBI business loan EMI calculator is highly useful to compute the business loan EMI. After computing the business loan EMI, you can easily choose a loan with the loan amount and tenure suitable to you. You can also compare between various lenders based on the EMI for different durations and loan amounts.
1. Does SBI provide business loans?
Yes, SBI provides business loans to its customers. It offers small business loans (SSBL) to small business owners at affordable interest rates. Business owners can get an SBI business loan for a variety of reasons such as purchasing their current assets and buying fixed assets required for business expansion, for marketing their business, for payroll expenses of employees, for the renovation of office space, for day-to-day working capital needs, etc.
2. Will the SBI business Loan EMI change in the future or will it remain constant?
Usually, the business loan EMI remains unchanged unless the customer requests for a change and the same is approved by SBI subject to its eligibility conditions. However, you may have to pay nominal charges for effecting a change in your EMI.
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