Bajaj Finserv Business Loan EMI Calculator
Last Updated : May 28, 2021, 9:13 p.m.
Bajaj Finserv Business Loan EMI Calculator is one of the finest inventions for a perfect EMI Calculation. You can determine the accurate EMI on a certain sum of a loan before taking it from the bank. This technique will help you know your EMI expenses before taking the business loan. The information you need to enter is the loan amount, rate of interest and the time period for which you took the business loan. Once all the details are filled, you can see the monthly installments to be paid for clearing the loan.
| Loan Amount | |
| Interest Rate | |
| Tenure(Months) | |
| Monthly Instalment (EMI) | |
| Total Interest Amount | |
| Total Amount (Principal + Interest) |
| Year | Principal | Interest | Balance Amount |
|---|
Information to be Entered in EMI Calculator
Principal Amount:- Principal amount is basically the loan amount you are willing to take. So first of all, you have to enter the required loan amount in the Business Loan EMI Calculator . The principal amount fluctuates the amount of EMI as well. If you take a large amount of business loan then your EMI would also be high.
Rate of Interest:- In the next section you have to enter the rate of interest at which the loan is taken by you. The interest rates also affects the amount of EMI. The high rate of interest results in the computation of high EMIs.
Tenure in Months:- In the next stage you have to enter the time period in terms of the month. Suppose you have taken a loan for 5 years, so in the time period you will have to enter 60 months. If you want to pay low EMI then increase the time period will be suitable. But it will also increase the overall amount of interest.
The Formula used of EMI Calculation
EMI = P x R x (1+R)^n/((1+R)^n-1)
If you think that you can calculate the EMI manually then you have to apply the manual formula. You have to put the values at their respective places and start the calculations. Put the loan amount at the place of “P”. Insert the rate of interest at the place of “R” and the tenure period at the place of “n”. Now you can easily perform the EMI Calculations.
But it will be a time consuming task and you have to put a lot of concentration into it. The answer might vary from the correct answer. Therefore many user feel comfortable using Bajaj Finserv Business Loan EMI Calculator.
Features of Bajaj Finserv Business Loan
Competitive Rate of Interest:- Bajaj Finserv provides a reasonable rate of interest to the borrower. So you can easily take the Bajaj Finserv Business Loan and expand your business activities. But the comparison of business loan interest is necessary before applying for any business loan.
Collateral Free Business Loan:- Bajaj Finserv has the facility of granting a business loan without collateral . You don’t have to mortgage a single property or asset for taking the loan. But a collateral free loan is only sanctioned up to a certain limit and after fulfilling all the loan requirements.
Flexible Repayment Period:- The maximum tenure provided by the Bajaj Finserv is up to 4 years. But it is flexible period. If you want to get a loan for a period of less than 48 months then you can get it from Bajaj Finserv financial institutions. The repayment tenure is flexible.
Get a Loan up to Rs. 30 Lacs:- You can also get a business loan up to a maximum limit of Rs. 30 Lacs from Bajaj Finserv. This fund can be used in managing the day to day expenses and for the purchase of a capital asset.
