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Tata Capital Business Loan EMI Calculator is an online tool that can be used by individuals to get the EMI for the required loan amount that is to be paid in a defined time without doing any further calculations. It is a time saving process and can be accessed from anywhere and anytime. Business Loan EMI Calculator runs on three basic loan details, such as loan amount, interest rate and loan duration. By entering these details, the applicant can obtain the EMI details that he/she needs to pay to the lender.
Comparison of Interest Rates on Business Loan Offered by Top Banks
| Bank/NBFCs | Interest Rate |
| Axis Bank | 10.75% p.a. onwards |
| Flexiloans | 1% per month onwards |
| HDB Financial Services Ltd. | 8% - 26% p.a. |
| HDFC Bank | 10.75% - 25% p.a. |
| IDFC First Bank | 10.50% p.a. onwards |
| Indifi | 1.50% per month onwards |
| Kotak Mahindra Bank | 16% - 26% p.a. |
| Lendingkart | 12% - 27% p.a. |
| Mcapital | 2% per month onwards |
| NeoGrowth Finance | 15% - 40% p.a. |
| Tata Capital | 12% p.a. onwards |
| UGRO Capital | 9% - 36% p.a. |
| Bajaj Finserv | 10% to 26% |
How to access Paisabazaar Business Loan EMI calculator?
Accessing Paisbazaar’s business loan EMI calculator is really simple and convenient. It asks for only three loan details to be entered in order to get the approx. EMI for the desired loan that include interest rates, loan amount and repayment tenure. The exact and final EMI shall be stated by Tata Capital before loan approval or during application verification process.
Business Loan Formula
Formula to Calculate Business Loan EMI
[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.
Why to choose Tata Capital for Business Loan?
Tata Capital is one of the largest funding NBFC that offers collateral-free loans of up to Rs. 75 lakh. There are few financial institutions offering such large amounts without demanding any collateral or security from the borrower. The repayment tenure is also considerable that ranges from 2 months to 36 months with flexible EMI options. With simplified eligibility criteria, Tata capital offers business loans at an interest rate of 19% onwards.