InCred Business Loan EMI Calculator

The EMI (Equated Monthly Instalment) for an InCred Business Loan is calculated using the following formula:

EMI = [P × R × (1+R)^N] ÷ [(1+R)^N - 1]

where:

• P = Loan Amount (Principal)

• R = Monthly Interest Rate (Annual interest rate divided by 12)

• N = Loan Tenure in Months

Let’s assume:

• Loan Amount (P): ₹10,00,000

• Annual Interest Rate: 29.5% (so the monthly interest rate, R, is 29.5 ÷ 12 = 2.458% or 0.02458)

• Loan Tenure (N): 24 months

EMI = [10,00,000 × 0.02458 × (1 + 0.02458)^24] ÷ [(1 + 0.02458)^24 - 1]

EMI = [10,00,000 × 0.02458 × 1.73378] ÷ [1.73378 - 1]

EMI = [42,609.86] ÷ [0.73378]

EMI = ₹55,655

So, the monthly EMI for this loan will be approximately ₹55,655.

Note: Use the business loan EMI calculator for accurate EMI calculations based on your loan amount, interest rate, and tenure.

Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.