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FinFIRST Blogs
Medium and Small-Medium Enterprises (MSMEs) account for over 85% of business loans disbursed in India. However, understanding a business loan's financial implications and planning its repayment might not be easy. Here is where a business loan EMI calculator comes in handy.
With this calculator, you can calculate loan instalments accurately and avoid defaults. Let’s explore the various facets of a business loan EMI calculator and see how to make the most of it.
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What does a business loan EMI calculator do?
This free online tool is offered by several banks and NBFCs to help borrowers make informed decisions:
- A business loan EMI calculator helps you arrive at Equated Monthly Instalments (EMIs) for a business loan
- Based on business loan interest rate and principal amount, it calculates accurate EMIs for the specified tenure
- You can tinker with different loan amounts, interest rates, and tenure combinations to arrive at the most suitable option for you
How to use a business loan EMI calculator
Here are the steps to follow to use the business loan calculator from IDFC FIRST Bank –
- Go to the IDFC FIRST Bank website and scroll down to find the business loan EMI calculator
- Enter details such as the loan amount, repayment tenure, and interest rate
- You will now be able to see the EMI amount and the amortisation schedule; select the combination that best meets your needs
Next, follow the steps below to apply for an IDFC FIRST Bank Business Loan –
- On the same page, click on the ‘Apply Now' button
- Enter your mobile number and click on the ‘Submit’ button
- A representative from the bank will contact you to take the application forward
Benefits of using the IDFC FIRST Bank Business Loan calculator
You can enjoy several notable benefits by using this free online tool from IDFC FIRST Bank –
- A user-friendly interface makes it extremely simple to calculate your EMI
- Reliable algorithms ensure accurate and instant results every time
- You need not provide personal details to access this discreet tool
Also read - Microfinance Vs. Business Loans: A comparison for a better understanding
In conclusion
A business loan EMI calculator empowers business owners and managers to better plan their application for an IDFC FIRST Bank Business Loan. With loan tenures up to 48 months, collateral-free funding up to Rs 1 crore, and easy eligibility criteria, business loans from IDFC FIRST Bank offer you the financial support you need to realise your dreams.
Learn more about IDFC FIRST Bank Business Loans. Apply today!
Disclaimer
The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.
The features, benefits and offers mentioned in the article are applicable as on the day of publication of this blog and is subject to change without notice. The contents herein are also subject to other product specific terms and conditions and any third party terms and conditions, as applicable. Please refer our website www.idfcfirstbank.com for latest updates.
