Andhra Bank Business Loan EMI Calculator
Last Updated : Nov. 4, 2019, 6:16 p.m.
Andhra Bank Business Loan EMI Calculator is the best tool that can be used for the evaluation of EMI. If you are willing to take a business loan then it is important to know the EMI before applying for it. You have to provide the willing loan amount, rate of interest and the time period to the loan calculator. In on time the exact EMI for every month will be calculated. So it is the easiest way to know your future expenses before hand.
| Loan Amount | |
| Interest Rate | |
| Tenure(Months) | |
| Monthly Instalment (EMI) | |
| Total Interest Amount | |
| Total Amount (Principal + Interest) |
| Year | Principal | Interest | Balance Amount |
|---|
Privileges of Taking a Business Loan from Andhra Bank
Nationalised Banking Institution:- As Andhra Bank is a nationalised bank, many user rely on its services. So, the reason for taking the Andhra Bank Business Loan is their service and authenticity. Most of the user trusts Andhra Bank blindly for their everlasting services.
Low Processing Fee:- The processing fee charged on the business loan given by Andhra Bank is also low. They only charge 0.50% to 1% as the processing fee on the loan amount. The loan processing fee of Andhra bank is comparatively low in comparison with other financial institutions.
Reasonable Interest Rate:- Andhra Bank charges a low rate of interest on business loans. So many user are inclined towards the bank for taking business loans. This is also one of the privileges you can get in the business loan from Andhra Bank.
Collateral Free Loan – You can also take a business loan without collateral from Andhra Bank. The maximum limit of a collateral free loan is up to 1 crore. But you must fulfill all the needs of the bank in terms of the documents.
The Formula Used For Andhra Bank Business Loan EMI Calculation
All the Business Loan EMI Calculator have the same formula for computing EMI. You can use the formula given below for the EMI Calculation.
EMI = P x R x (1+R)^n/((1+R)^n-1)
If you want to calculate the EMI monthly then put the principal amount at the place of “P”. Then out the rate of interest and repayment period in the place of “R” and “n” respectively. After the error free calculation, you can easily evaluate the exact EMI.
But there are several drawbacks of manual calculation. First of all, you need a lot of concentration and mathematical expertise. Any small negligence can lead to the wrong calculation of EMI. Therefore, it is better to use the automated method that is the Andhra Bank Business Loan EMI Calculator.
Advantage of Automated EMI Calculation
Know Your Exact EMI:- As you have seen that manual EMI Calculation is really difficult. So if you want to know the exact EMI in a short of time the EMI Calculator would be the best option. It gives you an error free result.
Graphical Representation:- The Business Loan EMI Calculator displays all the information in a graphical form. The graph will show you the interest amount and principal amount included in the EMI.
Determine EMI Fluctuations:- You can also determine the EMI fluctuations with the help of the EMI Calculator. You can enter a different loan amount and see the EMI fluctuations.
Is it Possible to Calculate the EMI with Bad Credit
Many users are in the dilemma of whether they can calculate the EMI with a bad credit score or not. So, the credit score has no connection with the EMI Calculator. If you want to know the EMI then you can check it with the help of a Business Loan EMI Calculator even if you have a negative credit score. But at the time of taking a business loan, the credit score should be positive.