How To Use the FatakPay Business Loan EMI Calculator?

The formula for calculating the EMI (Equated Monthly Instalment) for a business loan is:

EMI = [P × r × (1 + r)ⁿ] / [(1 + r)ⁿ – 1]

Where:

EMI : Equated Monthly Instalment

P : Loan Amount (Principal)

r : Monthly Interest Rate (Annual rate divided by 12 divided by 100)

n : T Loan Tenure (in months)

Using a Business Loan EMI Calculator is simple and efficient. This tool helps you estimate the monthly installments (EMI) for repaying your business loan, making financial planning straightforward.

Here’s a step-by-step guide:

Step 1: Input the Loan Amount

Select the total amount you wish to borrow for your business.

Step 2: Select the Interest Rate

Provide the annual interest rate offered by the lender. This rate determines the cost of borrowing and directly impacts your EMI.

Step 3: Select the Loan Tenure

Specify the repayment period (in months or years) over which you plan to repay the loan. Longer tenures result in lower EMIs but higher overall interest payments. Shorter tenures increase EMIs but reduce the total interest paid.

Step 4: Click on "Calculate"

Once you’ve entered all the details, the calculator will instantly compute your monthly EMI. It may also display additional details such as the total interest payable and the overall repayment amount.