Bandhan Bank Business Loan EMI Calculator
Last Updated : May 28, 2021, 9:13 p.m.
Bandhan Bank Business Loan EMI Calculator helps you to get the exact EMI on the business loan taken by you. Business loans are the leverage for startup businesses that need financial help. So, before taking any business loan, make sure that you calculate the EMI payable every month. You’ll get the idea of your future expenses that are going to be incurred on the loan amount.
| Loan Amount | |
| Interest Rate | |
| Tenure(Months) | |
| Monthly Instalment (EMI) | |
| Total Interest Amount | |
| Total Amount (Principal + Interest) |
| Year | Principal | Interest | Balance Amount |
|---|
Purpose of Using EMI Calculator
Determine the Interest Amount:- It is really difficult to calculate the amount of interest on the loan amount for a specific period of time. Therefore, with the help of the EMI calculator, you can easily determine the interest amount charged on the overall loan.
Know the Exact EMI:- Many businessman have to plan their expenses for the business before taking the loan. So it becomes necessary for them to know the exact EMI of the loan. Business Loan EMI Calculator would be the best option for them for a perfect EMI Calculation.
Compare EMI Fluctuations:- You can easily compare the various EMI options by entering a different loan amount for a different period. This technique will help you to decide an appropriate EMI which is easily affordable by you.
Know the Monthly Interest Charged:- The EMI calculator will also show you the interest amount included in the EMI on a monthly basis. You can see the actual principal amount and the amount of interest included in the EMI.
How to Calculate Business Loan EMI Manually
EMI = P x R x (1+R)^n/((1+R)^n-1)
P denotes the Principal Amount
R represents the Rate of Interest Per Month
Small “n” is the tenure given by the bank
As you can see the formula used for calculating EMI is complex and it will take a lot of time. So, in order to overcome this problem Business Loan EMI Calculator has been invented. You just have to enter the following information for calculating the EMI:-
- The Loan Amount you are willing to take from the bank.
- Rate of Interest charged by the Bandhan Bank.
- The time period for which you are willing to take the loan.
Benefits of Taking a Business Loan from Bandhan Bank
Maximum Tenure up to 7 years:- Almost all the financial institution grants a business loan for a maximum period of 5 years. But you can take the Bandhan Bank Business Loan for a time period of 7 years. This is the advantage of taking a business loan from Bandhan Bank.
Low Processing Fee:- Bandhan Bank usually charge 1% plus GST as the processing fee on the loan amount. It is a low processing fee as compared to the other financial institutions. You’ll be charged with a low processing fee if you take the loan from Bandhan Bank.
Less Paperwork:- If you are ready with all the required documents then will be no delay in the loan approval. There is less paperwork to be done while applying for business from Bandhan Bank. Use Bandhan Bank Business Loan EMI Calculator before applying for the loan.
Ways to Contact Bandhan Bank
If you are having any doubts related to business loan then you can easily contact Bandhan Bank. The ways for contacting Bandhan Bank are:-
- Drop an Email on the official Email-I.d of Bandhan Bank.
- Make a direct call on the contact number given below:-
- Toll Free Number 1800 258 8181
