• Public (anyone can view and join)
  • In India, Business Loans is one of the most popular ways of financing for the businesspersons to look for capital. A business loan is the borrowed amount that companies ask for the expenses that they are unable to pay on their own. Banks charge some amount of interest on loans.  

    An individual can get a startup for a business loan from lenders, financial bodies or NBFCs (Non-Banking Financial Companies) in order to start a business.  

    Interest rate - Up to 21% p.a.  

    Loan Amount - Up to 75 lakhs  

    Loan Tenure -Up to 5 years  

    Processing Fee - Up to 6% of the loan amount + GST

    Things to be kept in mind while applying for a business loan in India:

    Credit history should be good.

    Financial documents must be arranged in order.

    Cash flow should be positive in the business organization.

    Understand the requirements of the lenders that what they want from you.

    EMI Calculator for business loan

    An EMI stands for Equated Monthly Installment, is the amount that is provided by an applicant to a lender on a fixed date of every month.

    It has three factors i.e.,: -

    The rate of interest

    Principal amount, and  

    Loan tenure.  

    Mathematical formula to calculate EMI:

                EMI = PV×i×[(1+i)n(1+i)n−1]

    Where, I = Rate of Interest

               PV = Loan amount

               n = Tenure (years or months)

Recent Activities

    There are no new feeds to view at this time.