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Check your loan terms in 3 steps
1
Step 1
2
Step 2
3
Step 3
₹
%
Yrs
Your total payment will be
₹11,73,968.89
Monthly EMI ₹19,566.15
Total Intrest ₹1,73,968.89
Principal Amount ₹10,00,000.00
Master your Finances
-
Financial preparedness
Understand the affordability of the loan and align it with your financial capabilities
-
Budget management
Assess how the loan fits into your monthly budget, preventing financial strain
-
Interest awareness
Get the total interest payments over the loan tenure and make informed decisions
-
Smart decision-making
Compare different loan options and choose the one that best suits your financial goals
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Use the emi calculator with other Shiprocket
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Key variables in business loan EMI
Principal Loan Amount
The initial sum borrowed, influencing monthly instalments; higher amounts result in increased installments.
Interest Rate
The percentage charged on the borrowed amount, is influenced by credit performance and business track record.
Loan Tenure
The duration agreed upon for repayment, affecting monthly instalments; shorter tenures increase EMIs but reduce interest.
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- Frequently Asked Questions
What purpose does a business loan EMI calculator serve?
An invoice is a bill that requests payment for products or services, detailing what was purchased, its cost and the total amount due.
What is the EMI for a ₹10 lakh business loan for 2 years at 15%?
The actual monthly EMI may vary depending on the financing agency or bank, as certain charges can differ. Based on the provided figures, you can expect a monthly EMI of around ₹48,000.
3. What is the formula to calculate business loan EMI?
EMI = P x r x (1+r)^n / (1+r)^n-1
Where:
P is the principal loan amount (₹10,00,000),
r is the monthly interest rate,
n is the loan tenure in months
4. How to send invoices?
You can send the invoice using the method that suits you and your customers best. Options include, but are not limited to:
Email
WhatsApp
Other platforms
5. Who is eligible for a business loan?
Self-employed individual
Private limited company
Limited liability partnership firm
Proprietorship firm
Partnership firm
Hindu united family
Trusts and societies