SBI Business Loan EMI Calculator
SBI Business Loan EMI is a fixed amount of money that a borrower needs to pay to SBI within defined time duration against an availed business loan. To know the exact loan EMI, you can access an online and handy tool that is SBI Business Loan EMI calculator. Whatever the loan amount, interest rate or repayment tenure is, this calculator shall calculate the accurate EMI as per the details entered.
How to use the Paisabazaar EMI Calculator?
Accessing Paisabazaar EMI calculator is a simple, hassle-free and convenient task. You just need to enter 3 basic loan details to get the exact information of EMIs on your loan amount. These 3 details include your desired loan amount, interest rate and repayment tenure.
Business Loan Formula
Below mentioned is the formula used for calculating business loan EMI:
EMI = [P x R x (1+R) ^ N]/[(1+R)^ (N-1)]
Here, the variables represent are:
P – Total loan amount
R – Interest rate levied on the principal amount (monthly)
N – Loan tenure of repayment (in months)