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Business Loan EMI Calculator
A Business Loan EMI Calculator gives you the opportunity to understand the EMI or Equated Monthly Instalment amount payable over your complete business loan tenure. It helps you figure out the total number of EMIs, and the total amount payable as EMIs for the entire loan period to pay off your business loan.
When you take a Business Loan, you can repay back the loan amount borrowed in many ways. The easiest method however happens to be paying off your loan through Equated Monthly Instalments also known as EMIs. This method divides your entire loan amount inclusive of interest accrued into equal fixed sums that must be paid throughout the loan period on a monthly basis on a fixed date until you pay back the entire loan amount. An EMI consists of basic two-part:
- Principal Amount
- Interest Accrued
How to Calculate your Business Loan EMI
You may calculate your EMI based on the following formula.
EMI = [ P x R x ( 1 + R ) ^ N ] / [ ( 1+R ) ^ N – 1 ]
Where:P = Principal Loan Amount
R = Interest Rate per month
N = Period Of Loan in months
What are the Benefits of Using a Business Loan EMI Calculator
Manual calculations are tedious and time-consuming. A Business Loan EMI calculator serves you with accurate and instant results. You don’t have to manually enter the amount; just move the sliders to the required values in the forms fields mentioned below, and you have your results in a moment.
Principal Loan Amount
Tenure or Period of Loan in Months
Rate of Interest
Upon setting the required values the EMI Calculator will display your monthly EMI, total value of interest payable during the tenure and total sum of amount payable by the end of loan period.
What are the Advantages of Business Loan EMI Calculator
Easy Accessibility
You can access Ruloans Business Loan EMI Calculator from anywhere at any time from your Desktop, Laptop, Tablet, or your Mobile Phone.
Effortless Process
You don't have to enter data manually; just slide the slider to the required values in the specified field for instant results.
Saves Time
Results for your calculations are available instantly in real time, saving you time to devote to other important matters.
Accurate Results
Ruloans Business Loan EMI Calculator uses online resources to compute your EMI, and thus due to automatic operations, your results are exact and accurate.
Plan Better
When you know your EMIs payable on a monthly, yearly, and the total business loan period, you are better prepared to plan your finances much better.
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