Business Loan EMI Calculator

The turnover requirement for a business loan differs from one lender to another and depends on the type of business loan scheme offered. For example, the turnover requirement for MSME loans, especially those sanctioned to micro and small enterprises would be much lower business loans sanctioned to medium scale industries/entreprises for their capital expenditure or working capital requirements.

Loan borrowers can opt for the advance EMI/auto-debit option to repay their monthly installments on or before the due date.

If a loan borrower defaults on his/her EMI, the lender will levy a late payment fees on a monthly basis, which the borrower will have to pay when he/she is repaying the EMI. Additionally, defaulting on the EMI would also negatively impact the borrower’s credit score/rating.

Requesting your lender to reduce the EMI for your business loan is considered as loan restructuring, which can negatively affect your credit score/rating for a long time. Instead, you can part-prepay your business loan to bring down the EMI. You can also reduce your EMI by requesting your lender to reduce the interest rate of your existing business loan. However, if the lender refuses to do so, you can transferring your loan to another lender at lower interest rates and/or for longer tenures, thereby bringing down your EMIs.

You can get in touch with your existing lender to reduce the interest rate of your business loan. In case the lender does not reduce your business loan interest rate, you can exercise the balance transfer option to transfer your loan to another lender at lower interest rates.

Prospective business loan applicants should calculate the EMI to avail business loans at optimum tenure and EMI based on their repayment capacity.

If you have availed business loans at floating interest rates, the EMI may change in case of any change in the rate of interest. However, the EMIs for fixed interest rate business loans remains the same throughout the loan tenure.