ICICI Business Loan EMI Calculator
ICICI Business Loan EMI Calculator is an online tool that helps its customers in calculating the EMI they have to pay for the availed business loan. EMI, as we all know stands for Equated Monthly Instalment that any borrower has to repay to the lender against any type of loan. Most of the lenders have their own business loan EMI calculator that can be accessed online by visiting their official website.
Comparison of Interest Rates on Business Loan Offered by Top Banks in 2022
| Lenders | Interest Rate | |
| HDFC Bank | 16% onwards | Apply Now |
| FlexiLoans | 16% onwards | Apply Now |
| Axis Bank | 17% onwards | Apply Now |
| Bajaj Finserv | 17% onwards | Apply Now |
| Tata Capital Finance | 17% onwards | Apply Now |
| ICICI Bank | 18% onwards | Apply Now |
| Lendingkart Finance | 18% onwards | Apply Now |
| IDFC First Bank | 20% onwards | Apply Now |
| Indifi Finance | 18% onwards | Apply Now |
How to use Paisabazaar Business Loan EMI Calculator?
Paisabazaar.com is a one stop shop for all of your loan requirements. Therefore, customers can visit paisabazaar.com to check and compare various loan options and can access their desired loan EMIs by using Paisabazaar Business Loan EMI calculator. There are only 3 required fields to be entered for getting the loan EMI that include loan amount, interest rate and business loan tenure.
Business Loan EMI Formula
Below mentioned formula is used by lenders 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 ICICI Business Loan EMI Calculator
- Instant and accurate results
- Saves time in loan EMI calculation
- Helps in loan planning
- Can be accessed anytime and from anywhere