Kotak Mahindra Bank Business Loan EMI Calculator
Last Updated : May 28, 2021, 9:13 p.m.
Kotak Mahindra Bank Business Loan EMI Calculator is one of the best utility for computing EMI on the loan given by bank. If you want to know your EMI expenses beforehand then this calculator would be the best option for you. You just have to enter the loan amount, rate of interest and the time period in the calculator. In a few seconds, the EMI calculator will display all the information related to your EMI. It is the fastest mean of EMI calculation and there is no other option left with you.
| Loan Amount | |
| Interest Rate | |
| Tenure(Months) | |
| Monthly Instalment (EMI) | |
| Total Interest Amount | |
| Total Amount (Principal + Interest) |
| Year | Principal | Interest | Balance Amount |
|---|
The Uniqueness of the Business Loan EMI Calculator
Fast Calculations:- Business Loan EMI Calculator helps the user to determine the EMI quickly. You can save a lot of time by using the EMI calculator rather than using the manual formula. Once you enter all the information in the calculator, it will only take a few seconds in computing the exact EMI.
Graphical Presentation:- This calculator not only shows you the results but it also presents all the details in a graphical form. You can easily understand each and every calculation with the help of graphs and pie-charts.
Calculates Overall Amount of Interest:- The EMI calculator also shows you the overall interest charged on the loan amount. So you can increase and decrease the loan amount and see the interest and EMI fluctuations.
Determines Total Payable Amount:- If you want to know the overall amount payable then this can also be determined with the help of this tool. This software shows the total amount including the amount of interest and the principal amount.
How to Compute EMI Manually
If you want to calculate the EMI manually then you use the formula given below:-
EMI = P x R x (1+R)^n/((1+R)^n-1)
In this formula, you have to keep the loan amount at the place of “P”. The rate of interest at the place of “R” and put the loan tenure at the place of small “n”.
This is how you can compute the EMI manually. But it will consume a lot of time and needs a lot of concentration. Therefore, it is better to use the business loan EMI Calculator for the calculation of EMI.
Benefits of Taking Loan from Kotak Mahindra Bank
Fast Approval:- If you fulfill all the requirement of the bank then you can easily take the Kotak Mahindra Bank Business Loan . The bank doesn’t delay any of the processes if you fulfill all the needed documents.
Fewer Formalities:- There is less paperwork included in the business loan applied from Kotak Mahindra Bank. Even if you are unable to commute to the bank the representative will come at your doorstep for completing the formalities.
Online Service:- Kotak Mahindra Bank also provides online services to their customers. They can see the status of their loans online. The online portal will show you the pending amount, amount of interest and other details related to the business loan.
Low Processing Fee:- The processing fee charged by Kotak Mahindra Bank is also low. You just have to pay the processing fee of 2% on the loan amount. It is a low fee compared to other financial institutions.
