Business Loan EMI Calculator

Managing a business requires strategic planning and precise financial management. With the business loan EMI calculator on Bajaj Markets, you can quickly estimate your monthly instalments, ensuring they fit in your cash flow. Understanding your repayment obligations upfront can help you budget effectively and focus on growing your business without facing any EMI burden.

 

Regularly checking your EMIs and amortisation schedule allows you to plan for prepayments or restructuring as needed. This enables you to ensure that your business finances remain on track. With just a few inputs, the calculator provides you with detailed results in seconds.

Using the business loan EMI calculator on Bajaj Markets is straightforward and efficient. You will have to enter the following details:

• Principal amount – This is the amount you wish to borrow. Business loans, available on  Bajaj Markets, can range up to ₹50 Lakhs, depending on your eligibility and requirements.

• Interest rate – This is the annual borrowing cost charged by the lender, typically levied on a per-year basis

• Tenure – This is the time over which you plan to repay the loan, often ranging from 12 to 96 months

 

Once these details are filled, you will get the EMI amount instantly. The calculator will also provide details such as total interest payable and complete repayment cost. You can download the amortisation schedule for a more detailed view of how each instalment contributes towards the repayment of your loan.

Here are some reasons to use the calculator on Bajaj Markets when opting for a business loan:

Real-time Comparison of Offers

You can instantly compare EMI amounts and total repayment costs from a variety of lenders on Bajaj Markets. This allows you to select the best loan for your business needs.

Detailed Amortisation Schedule

Check how each EMI breaks down into principal and interest repayments. This gives you insights into planning for early repayments, pre-closures, or refinancing options.

Accurate EMI Calculations

The calculator uses a precise algorithm to calculate EMIs, removing the chances of manual errors and helping you plan with confidence

Save Time and Resources

The calculator gives you instant results, saving you valuable time to focus on business strategies, rather than calculating the EMIs manually. 

Unlimited Free Calculations

You can check different combinations of loan terms to see which suits your business needs the best, all free of cost

User-friendly Interface

With a clean and intuitive design, the calculator is easy to use and ensures you understand the repayment details easily

Accessible Anytime, Anywhere

Whether you're using a desktop or a mobile device, you can access the calculator on the official Bajaj Markets website or app, at your convenience

The EMI for a business loan is calculated using the following formula:

 

EMI = P x R x (1+R)^N / [(1+R)^N - 1]

 

Where:

• P is the principal loan amount

• R is the interest rate

• N is the loan tenure

 

Let’s break it down with an example:

 

Assume you’ve taken a loan of ₹10 Lakhs at an interest rate of 9.75% p.a. for a tenure of 24 months.

• P = ₹10 Lakhs

• R = 9.75% p.a.

• N = 24 months

 

The annual interest rate needs to be converted to the monthly numeric value before using it in the given formula. In this case:

 

R = 9.75 / 12 / 100 

 

Thus, R = 0.008125

 

Next, let’s enter the loan details in the formula:

 

EMI = {1000000 x 0.008125 x (1 + 0.008125) ^ 24 / [(1 + 0.008125) ^ 24 - 1]}

 

Now, let’s solve this:

 

EMI = {1000000 x 0.008125 x (1 + 0.008125) ^ 24 / [(1 + 0.008125) ^ 24 - 1]}

 

EMI = [1000000 x 0.008125 x 1.214354 / (1.214354 - 1)]

 

EMI = (1000000 x 0.008125 x 1.214354 / 0.214354)

 

EMI = ₹46,029.59

 

Such manual calculations can be quite tedious and time-consuming. Also, the possibility of errors and miscalculation is quite high. An EMI calculator can complete these complex computations much more efficiently and also provide other essential information. This includes the total interest charges, aggregate repayment cost, and a detailed amortisation schedule. 

The following tips can help you make the most of the calculator to improve your financial planning and management:

Double-check the Details

Ensure that you enter the correct loan amount, interest rate, and tenure to get the most accurate results

Compare Various Scenarios

Try different combinations of loan terms and compare the EMIs to find an offer that best matches your business’ financial situation

Include Other Costs

Remember to factor in other costs like processing fees, prepayment charges, and GST to get a complete view of your loan expenses. These are not considered by the EMI calculator and must be calculated separately.

Check the Impact of Different Tenures

Test different loan tenures to see how they affect your EMIs and the overall repayment cost. A longer tenure may lower the EMIs but increase the total interest payable and vice versa.

Evaluate Affordability

Use the EMI calculator to ensure that the monthly payments fit within your business’s cash flow. This prevents any potential financial strain on your operations.

Check the Amortisation Schedule

The amortisation schedule helps you understand how the loan principal reduces over time and how much you’ll pay in interest. This is crucial for planning prepayments or loan restructuring.

Regularly Re-calculate Your EMIs

Re-assess your EMIs as your business grows or if your financial situation changes. This will help you plan for refinancing or restructuring the loan to align with your evolving needs.

The calculation results are based on the values you enter in the calculator. Your EMI amount (including the actual interest amount charged) will depend on the prevailing rates. The results are neither certified nor guaranteed. The repayment schedule presented is for illustration purposes. Confirm the values with your lender prior to applying for the business loan.

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.