IndusInd Bank Business Loan EMI Calculator

Why Should You Take A Business Loan From IndusInd Bank

• Competitive business loan interest rates
• Minimal paperwork
• Quick loan disbursal
• Reliable support services are provided even after loan disbursal.
• 24X7 availability of customer care executives.

Comparison of IndusInd Bank Business Loan With Other Business Loan Lenders

Why Should You Compute Your Business Loan EMI Before Taking A Loan

• Manage your Expenses: It becomes easier to manage your expenses if you get to know your business loan EMI. Many borrowers don’t know the exact EMI and it becomes difficult for them to manage their expenses. That is why we have an online tool that is easy to use like the IndusInd business loan EMI calculator.
• Monthly Interest Calculation: When you compute the EMI, many calculators display the interest amount payable for the month also. This also helps you know how much is going towards interest each month and helps in better financial planning. When you use the IndusInd business loan EMI calculator, you can distinguish between the principal amount and the interest amount since the total amount payable along with the split up into the principal and the interest is displayed.
• Yearly Interest Calculation: You can easily compute the interest charged every year and the total interest amount payable for the duration of the loan using the IndusInd business loan EMI calculator. This will help in better planning of expenditure.
• Know The Principal Amount Due: The IndusInd business loan EMI calculator will also show the outstanding principal amount every year excluding the interest amount. You can determine the remaining amount of the loan accurately.

How Is The IndusInd Business Loan EMI Computed

The IndusInd business loan EMI can be computed using the following formula

EMI = P x R x (1+R)^n/((1+R)^n-1)

Where P = Principal

R = rate of interest

N = number of years

Let us consider an example:

P = Rs. 5 Lakhs

N = 5 years

R = 11%

The monthly loan EMI is Rs. 10, 871.

When used manually, this formula is highly time-consuming. So, you can use a business loan EMI calculator that operates based on the formula above. You just have to provide the inputs and the calculations will happen on the backend. The results will get displayed instantaneously. Use the IndusInd Bank business loan EMI calculator to compute the EMI and plan your expenses with ease. The calculator displays the total interest amount = 1,52,273 and the total amount (principal + interest) = Rs. 6,52,273 along with the monthly loan EMI.

Things To Consider For The IndusInd Bank business loan EMI calculator

Principal Amount: The business loan amount is a major factor impacting the business loan EMI. It is always recommended to apply for a low business loan amount as the approvals are easy and you will also be able to get preferential interest rates.

Rate of Interest: The business loan interest rate is the rate at which IndusInd bank lends the loan to the borrower. If the credit score is high, then you will get favorable interest rates. The rate of interest is a very important factor impacting your business loan EMI. The higher the rate of interest, the higher your EMI and the lower the rate of interest, the lower your EMI is.

Loan Tenure: The loan tenure is directly proportional to the amount payable and indirectly proportional to the monthly EMI. If your tenure is long, naturally the interest outgo is more and the total amount payable increases. But, the monthly EMIs will be lower. But, if the loan tenure is shorter, the monthly EMIs will be higher. So, it is ideal to choose a convenient repayment tenure that creates a balance between the total amount payable and the monthly EMI.

Steps To Use The IndusInd Business Loan EMI Calculator

Step 1: Move the sliders of the parameters - amount, tenure, and interest rate to place them at the required values.

Step 2: The monthly EMI is computed and displayed instantaneously. Along with The total amount payable is displayed. The split of the total amount payable into interest payable, and principal amount are also displayed.

Benefits of Using The IndusInd Business Loan EMI Calculator

• Easy and Quick Computation: The IndusInd business loan EMI calculator helps you to calculate the results with convenience and speed. You just have to input a few parameters and the result is displayed instantaneously.
• Accurate Results: Manual calculations are prone to errors. But, using an online tool like the IndusInd business loan EMI calculator will help you get accurate results.
• Amortization schedule: You will get a detailed amortization schedule. The amortization schedule is the split of the balance amount into principal and interest payable at any point in time. Thus, the IndusInd business loan EMI calculator helps you to know about the outstanding balance.
• Monthly and yearly interest payment: The monthly and yearly interest can be computed by entering just the three parameters - tenure, principal amount, and interest rate.
• Quick comparison for different case scenarios: You can compute the business loan EMIs for various combinations of the loan amount and tenure for a specific interest rate. Depending on the result, you can choose the most feasible loan tenure for the loan amount you are taking and the interest rate offered so that the loan is easily repayable.
• Easily Accessible: The business loan calculator is accessible all the time and from any device - desktops, laptops, phones, and tablets. The IndusInd business loan calculator displays the monthly payment amount and the comprehensive repayment schedule.
• Eliminates Strenuous Manual Computations: It eliminates the use of time-consuming and cumbersome manual computations.

IndusInd Bank Business Loan Amortization Schedule

The IndusInd Bank Amortization schedule is a tabular display of the monthly EMIs for the complete repayment tenure. It shows how the principal component and the interest element of the business loan splits into monthly repayments. Given below is the amortization schedule for P = 5 Lakhs, R = 11%, and N = 5 years.

Conclusion

The IndusInd business loan EMI calculator is a tool that can be used easily. It is easily accessible and the result can be obtained in seconds. Use this tool to compute the business loan EMI and manage your expenses easily.