Business Loan Calculator 2021462 views
- Compute Monthly Instalments with the help of Fullerton Business Loan EMI Calculator.
- Know the Reasons for taking a Business Loan from Fullerton.
Fullerton India Business Loan EMI Calculator is one of the best utility that can be used for calculating monthly EMI on loans. It is very easy to operate and you just have to provide three basic details. You must enter the loan amount, rate of interest and the time period in order to compute an accurate EMI of the loan. The result will include the monthly EMI, overall amount of interest and the total amount payable after the expiration of the loan amount. If you have all the information available, then you can calculate the EMI easily.
|Monthly Instalment (EMI)|
|Total Interest Amount|
|Total Amount (Principal + Interest)|
Table of Contents
Fullerton India Business Loan Specifications
Collateral Free Business Loan:- Fullerton grants a business loan without collateral to the borrower. So you can get a collateral free business loan without mortgaging a single property. This loan can be helpful for the business expansion and purchasing of capital assets.
Loan Available up to 50 Lacs:- The maximum limit of giving the loan is up to 50 Lacs. You can also take small loans less than 50 Lacs according to your requirement. This amount can be used for business expansion and acquiring land and machinery for production.
Quick Disbursement:- If you have already fulfilled all the requirement of the loan then you can easily take it from Fullerton financial institution. The approval of the business loan is quick in Fullerton, once you fulfill all the needs of the institution.
Long Repayment Period:- Fullerton provides a long repayment period to the borrowers. You can take a loan for 4 years. If you are capable enough to clear the loan before the given period then the pre-closure of the Fullerton India business loan option is also available.
The Formula Implemented in EMI Calculation
EMI = P x R x (1+R)^n/((1+R)^n-1)
You just have to put each value at the respective places and compute the monthly EMI. It is a manual method for computing the EMI. You have to place the value in the following order:-
P- The amount of the loan you have taken.
R – The rate of interest at which the business loan is given . Always analyse the business loan interest rate before applying for a business loan.
N – The time period for which the loan has been taken.
Information Mandatory for EMI Calculations
Principal Amount:- Principal amount is basically the loan that is taken for business expansion. Every financial institution has a different capacity for lending loans to the businessman. The loan amount plays a vital role in the computation of EMI. The huge loan amount will result in the computation of huge EMIs.
Time Period:- The time period is the repayment period given by the bank to the borrower. The Fullerton India financial institution provides a maximum repayment period of 48 months. If you want to reduce the amount of EMI then you can extend the tenure of the business loan.
Rate of Interest:- Every financial institution charges a rate of interest on the loan amount lend by them. So it is mandatory to enter the rate of interest in the Fullerton India Business Loan EMI Calculator. High rate of interest results in the calculation of high EMIs.