RBL Bank Business Loan EMI Calculator

Knowing the Equated Monthly Instalment (EMI) is equally important, as knowing the interest rate or fees and charges related to the loan deal. RBL Bank specialises in offering short-term finance and working capital loans to its customers. RBL bank makes it easy for the applicants to calculate their loan EMI by accessing the bank’s business loan EMI calculator. The calculator can be used to calculate the EMIs for both short-term and working capital loan.

Business Loan EMI Calculator

The calculator required three mandatory fields to be filled by the applicant to get instant EMI results, such as loan amount, repayment tenure and offered interest rate by the RBL bank. Business loan EMI should be checked before applying for any loan, just the same way as you check your loan eligibility. Knowing the EMI in advance makes the loan planning easy and helps in timely repayment of the loan.

Reasons to choose business loan/working capital loan from RBL Bank

The business loan interest rate offered by RBL bank is competitive for both short-term loan or working capital loan. The loan amount offered by the bank starts from Rs. 10 lakh and exceeds up to Rs. 35 lakh. Business loans offered by the RBL bank are collateral-free, wherein borrowers are not required to deposit any security or collateral with the bank to avail loans. Moreover, the applicants have options of choosing the repayment tenure that ranges from 12 months to 36 months, as per their loan planning or monthly budgeting.

Paisabazaar’s Business Loan EMI Calculator & its Usage

An online and handy tool, that is EMI calculator can be accessed by visiting paisabazaar.com. This tool can be accessed to get loan EMI for various lending products, such as business loan, personal loan, home loan, etc. Applicants are just required to enter the loan amount, interest rate and loan duration to get the results. Every loan product has a different EMI calculator which can be accessed 24×7 by individuals from anywhere and everywhere via mobile, laptop, desktop or tab.

Formula to Calculate Business Loan EMI

Below stated formula is accessed by banks and NBFCs to calculate the business loan EMI:

Formula:

[P x R x (1+R) ^ N]/[(1+R) ^ (N-1)]

Wherein,

P refers to the loan principal;

R refers to the rate of interest on a monthly basis;

N refers to the loan repayment tenure in months.

Benefits of Using RBL Bank Business Loan EMI Calculator

• Takes minimum time and is a simple and hassle-free task
• Gives instant results and reduces paperwork
• Removes manual calculation
• Can be accessed to compare EMIs from different loan deals
• Helps in better loan planning
• Accessible from anywhere and everywhere