How to use this Tool?
What is this tool about?
This is a Business Loan EMI Calculator. It is an online tool that helps borrowers estimate their Equated Monthly Installments (EMI) and a few other parameters for a business loan.
How does this calculator work?
This calculator uses the loan amount, the annual interest rate, and the tenure of the loan to compute the EMI using standard loan formula.
Why should I use this calculator?
This calculator helps borrower to plan their future business finances better by providing an estimated monthly repayment amount. This amount shall help you plan out your sales targets and projections better in order to arrive at the required cash flow to repay the loan.
What factors affect my EMI amount?
The loan amount, annual interest rate, and the loan repayment tenure are the factors which impact the EMI amount.
What happens if I choose a longer repayment tenure for the loan?
Choosing a longer repayment tenure will reduce your monthly EMI. But, at the same time, it increases the total interest paid over the complete duration of the loan.
Can I use the tool for different types of business loans?
Yes, you can use this calculator to estimate EMI for various business loans, including term loans, working capital loans, and equipment financing loans.
Do I need to pay to use this calculator?
No, this calculator is completely free to use and doesn’t require you to register or login.
Can I access the calculator on my phone?
Yes, this calculator is mobile-friendly and can also be accessed via smartphone browsers.
What else does this calculator provides apart from EMI?
You can use this calculator to estimate EMI, Number of Payments in months, Total Payments and Total Interest to be paid during the tenure of the loan.
Facing any Issue using the tool?
Contact us for any
issues/feedback/suggestions.
