Yes Bank Business Loan EMI Calculator
Last Updated : Nov. 8, 2019, 4:23 p.m.
Yes Bank Business Loan EMI Calculator is the finest utility for a perfect EMI calculation. If you are willing to take a business loan then first, you must check the EMI that will be payable. This step will give you relief and you can also determine the future expenses. The information required for calculating the EMI is the amount of loan taken, the rate of interest charged by the bank and the repayment period you are willing to take. Once you enter all the information, the calculator will show you the EMI and other details related to it.
| Loan Amount | |
| Interest Rate | |
| Tenure(Months) | |
| Monthly Instalment (EMI) | |
| Total Interest Amount | |
| Total Amount (Principal + Interest) |
| Year | Principal | Interest | Balance Amount |
|---|
Contents Included in the Results
Equated Monthly Instalment:- You can easily get the EMI to be paid on a certain amount of loan with the help of the Business Loan EMI Calculator . It will show you the exact EMI that would incur in the future when you take a business loan.
Total Interest Amount:- Many users are unable to find the interest amount charged on the loan. But this EMI Calculator will show you the overall interest charged on the loan in a specific tenure. You can plan your time period of the loan depending upon the amount of interest that has been charged.
Total Amount to be Paid:- In the results you will also see the total amount to be paid at the end of the repayment period. It will include the principal amount and the total interest charged on the loan. You can make your decision of the amount of loan that has to be taken.
Graphical Representation of all Details:- You can also see all the information related to the EMI in a graphical form. It will look attractive and you can understand all the calculations better. The pie-chart will display interest and principal information.
How to Calculate Business Loan EMI Manually
EMI = P x R x (1+R)^n/((1+R)^n-1)
There is also a manual method for computing EMI. But it is a time-taking and complex method for EMI computation. There are chances of errors as well in the manual method. But if you are a mathematical freak then you can use the manual formula.
Place the Rate of Interest in the place of “R”
Put tenure or the time period for which the loan has been taken in the place of “n”.
Put the loan amount is the place of “P”
Now start the calculation and if things go fine, you will get the exact EMI. But the only drawback of the manual method is that it is time-consuming and complex.
Factors Responsible for Business Loan Rejection
Bad Repayment Record:- You are not eligible for Yes Bank Business Loan if you are having a negative CIBIL Score or bad track record. This factor is responsible for the rejection of business loans from banks. So always pay your debts on time in order to keep your credit score positive.
Late Submission of Documents:- There are many borrowers who do not submit the documents on time. Therefore the bank rejects the request for their business loan. Therefore you must always submit the required documents on time to the bank.
Low Vintage Period:- Every bank has its own requirement for the business vintage period. The loan application of many applicants gets rejected just because they do not fulfill the business vintage requirement. It is obvious that Yes Bank will not grant a business loan that is one or two months old.
Relationship with the Bank:- If you are having a bad relationship with the bank then there are higher chances that your business loan will get rejected. So, before applying for a business loan check your EMI using the Yes Bank Business Loan EMI Calculator.