A well-planned loan is a well-managed business decision. ICICI Bank business loan EMI calculator helps applicants evaluate EMIs across different loan tenures and interest rates enabling smarter decision making. Applicants can use Paisabazaar’s business loan EMI calculator for free to get fast and accurate results.
ICICI Bank Business Loan EMI Calculator
Calculate your Business Loan EMI Online
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HDFC Bank
Max Loan Amt.Upto ₹75L
Rate of Interest10.75% - 28%
Tenure uptoUpto 5 Years
Processing FeeUpto 2%
ICICI Bank
Max Loan Amt.Upto ₹50L
Rate of Interest13.25% 19.25%
Tenure uptoUpto 5 Years
Processing FeeUpto 2%
Axis Bank
Max Loan Amt.Upto ₹75L
Rate of Interest15% - 19.25%
Tenure uptoUpto 5 Years
Processing FeeUpto 2%
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ICICI Bank Business Loan EMI Calculator
Formula to Calculate Loan EMI
The formula used for calculating loan EMI is mentioned below:
- EMI = [P x R x (1+R) ^ N]/[(1+R) ^ (N-1)]
The variables represented are as follows:
- P: Total loan amount
- R: Interest rate levied on the principal amount (monthly)
- N: Loan tenure of repayment (in months)
Amortization Schedule
- Loan Amount: Rs. 35,00,000
- Tenure: 84 months
- Interest: 14% p.a
| Month | Principal (Rs.) | Interest (Rs.) | Principal + Interest (Rs.) | Balance to be Paid (Rs.) |
|---|---|---|---|---|
| 1 | 24757 | 40833 | 65590 | 3475243 |
| 2 | 25046 | 40545 | 65590 | 3450198 |
| 3 | 25338 | 40252 | 65590 | 3424860 |
| 4 | 25633 | 39957 | 65590 | 3399227 |
| 5 | 25932 | 39658 | 65590 | 3373294 |
| 6 | 26235 | 39355 | 65590 | 3347059 |
| 7 | 26541 | 39049 | 65590 | 3320518 |
| 8 | 26851 | 38739 | 65590 | 3293668 |
| 9 | 27164 | 38426 | 65590 | 3266504 |
| 10 | 27481 | 38109 | 65590 | 3239023 |
| 11 | 27801 | 37789 | 65590 | 3211221 |
| 12 | 28126 | 37464 | 65590 | 3183096 |
Note: This schedule presents an illustrative breakdown of the first 12 instalments out of the total 84-month loan tenure. The interest and principal composition will continue to adjust progressively over the remaining tenure.
EMI Comparison at Different Interest Rates
| Interest Rate (p.a.) | Monthly EMI (Approx.) | Total Payment (Approx.) | Total Interest Payable (Approx.) |
| 12% | Rs. 55,612 | Rs. 33,36,720 | Rs. 8,36,720 |
| 14% | Rs. 58,192 | Rs. 34,91,520 | Rs. 9,91,520 |
| 16% | Rs. 60,832 | Rs. 36,49,920 | Rs. 11,49,920 |
| 18% | Rs. 63,549 | Rs. 38,12,940 | Rs. 13,12,940 |
Benefits of Using ICICI Business Loan EMI Calculator
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How does the ICICI Bank EMI Calculator Work
A borrower can utilise the ICICI Bank business loan EMI calculator by following these steps:
Note: You can use the calculator for different combinations of tenure, interest rate and loan amount. This will help you figure out the best business loan option for your business needs. Additionally, you can also use this calculator to check EMIs for other top lenders for better assessment.
Consequences of Missed EMIs
Missing EMIs can be costly. Along with the penal charge that you will have to pay, your credit score will also be affected. The penal charges levied by ICICI Bank is mentioned below:
Penal Charges:
Use Paisabazaar’s business loan EMI calculator to plan in advance and never miss an EMI.
Why Choose Paisabazaar?
Compare & Choose the Best Offer
Pre-approved Offers with Instant Disbursals
Know Your Chances of Approval
End-to-End Digital Process
How Can I Apply for a Business Loan Online?
Step 1: Enter your mobile number in the application form
Step 2: Provide your personal details
Step 3: Enter OTP to verify your mobile number
Step 4: Select the loan purpose and loan amount
Step 5: Compare offers and apply for the best-suited loan
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