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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
Disclaimer: This EMI Loan Calculator solely serves as a representation tool. It does not constitute an offer or solicitation for financial transactions. Results are subject to various factors, including the assumptions you provide. Shiprocket or any of its affiliates/group companies shall not be responsible for any loss or damage that may arise to any person from any inadvertent errors in the EMI Calculator’s information.
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Assess how the loan fits into your monthly budget, preventing financial strain
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Interest awareness
Get the total interest payments over the loan tenure and make informed decisions
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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