SMFG India Credit Business Loan EMI Calculator

SMFG India Credit is an investment and credit company and RBI registered NBFC providing business and consumer banking services to its customers. SMFG India Credit offers various lending products and provides access to its EMI calculator for almost every product. The company also maintains a business loan EMI calculator that helps applicants in obtaining the information of loan EMI that they plan to avail.

Business Loan EMI Calculator

Knowing your business loan EMI is an elementary thing before applying for any deal or availing any lending product. Applicants must be well aware of the EMIs they need to pay the bank or lender in order to complete the loan cycle or tenor. Business loan EMI calculator makes things simple and convenient for the applicants. The desired loan amount, offered interest rate and chosen repayment tenure are the basic factors from which the loan EMIs are calculated by the business loan EMI calculator.

How to use Paisabazaar’s EMI calculator?

Applicants can visit paisabazaar.com to access its business loan EMI calculator. On its EMI calculator, they can mention their desired loan amount, interest rate offered by the lender and selected loan duration to get instant results of their loan EMI. At paisabazaar.com individuals can also compare from the loan deals offered by various banks and NBFCs by changing the interest rate and repayment tenure as per their requirements or affordability.

Formula to Calculate Business Loan EMI

Formula:

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

The variables depicted are as follows:

P: Total loan amount

R: Interest rate levied on the principal amount (monthly)

N: Loan tenure of repayment (in months)

Reasons to choose SMFG India Credit for MSME/Business Loan

SMFG India Credit offers collateral-free loans of up to Rs. 50 lakh to small businesses with repayment tenure from 12 months to 60 months. Competitive interest rates with easy to fulfil business loan eligibility criteria. Loan approval within 24 hours form the time of loan application submission mainly for small business loans. SMFG India Credit also provides Online Account Access through which customers can track and manage their loan accounts anytime and from anywhere via mobile, laptop, desktop or tab.

Benefits of Accessing a Business Loan EMI Calculator

• Quick and hassle-free task
• Saves time and provides instant and accurate results
• Loan planning can be done more cautiously
• Monthly budgeting becomes convenient
• Online tool that can be accessed from anywhere