Flexiloans Business Loan EMI Calculator

Why Should You Take A FlexiLoans Business Loan

• Collateral free: Business loans from FlexiLoans are collateral free. They provide business loans to SMEs and small business owners without having to pledge their assets.
• Minimal Documentation: FlexiLoans is an online business loan provider that aims to make business loans easily and quickly available to SMEs. Thus, they provide business loans with minimal documentation.
• Safe and Secure: Business loans from FlexiLoans are safe and secure. They use RBI-mandated guidelines to safeguard your private data. They are a credible company from which you can obtain fast and secure business loans.
• Transparent: FlexiLoans funds your business with a click without any hidden charges. The entire process is completely transparent.

Comparison of FlexiLoans Business Loans With Other Lenders

The Steps Involved in Taking A FlexiLoans Business Loan

• Completing the application: Completing the application takes 5 minutes. You can do it from anywhere, anytime. You just have to answer the questions on the FlexiLoans app.
• Upload Documents: You have to upload documents for personal loan KYC, residential address proof, banking, and business KYC.
• Credit Analysis: FlexiLoans will analyze your business performance to determine the loan amount you can get and also compute the interest rate that will be applicable. FlexiLoans business loan officers will help you understand the offer and make the best decision.
• Loan Disbursement: The loan amount will be disbursed directly to your bank account. You can enquire about the details regarding repayment and also request for a higher loan amount with Flexi loans if required.

What Is A Business Loan EMI Calculator

The EMI calculator is an online business tool that helps you compute the business loan EMI instantly. You have to just enter the loan amount, loan tenure, and the interest rate. The EMI then gets displayed instantly. The total amount payable, the principal amount, and the interest amount are also displayed. By using the FlexiLoans business loan EMI calculator, you can schedule your payments accordingly, handle your other bills, and repay the loan easily.

How Does The Flexiloan Business Loan EMI Calculator Work

There is a formula to calculate the business loan EMI. It is as follows:

Formula

EMI = {P * R * (1 + R) ^ N} / {(1+R) ^ (N - 1)}

P denotes the principal amount.

R denotes the rate of interest

N is the loan tenure.

But, calculating the monthly EMI using the formula is time-consuming. So, that is why a business loan EMI calculator has been developed. It does all the work for you and helps you avoid the cumbersome process of manual computations. You can thus pay more attention to other things

For instance,

P = 5 Lakhs, duration = 5 * 12 = 60 months, interest rate per month = 25/12 = 2.08333

Therefore, EMI = [5,00,000 x 2.08333/100 x (1+2.08333/100)60] / [(1+2.08333/100) 60 - 1] = Rs. 10,871

This mode of computation is not only time-consuming but can also generate erroneous values. So, to provide accurate values and quick calculations, we should use a business loan EMI calculator.

What Are The Factors That Affect Business Loan EMI Calculator

Factors that affect business loan EMIs include

• Loan Amount: The sum borrowed also known as the principal loan amount is a crucial factor that affects your monthly EMIs. With a borrowed business loan amount being higher, your monthly EMI also increases.
• Interest rate: The interest rate is another fundamental factor that has an impact on your business loan EMIs. The interest rate also determines the total cost over the duration of the loan. When you compute the business loan EMI, you can try various combinations of the loan amount and tenure by keeping the interest rate constant. So, you have to confirm the interest rate before calculating the EMI. you may get favorable interest rates based on your credit score, current loans held, the present financial standing of the business, and business track record.
• Loan tenure: Your loan tenure will have a crucial impact on your EMI calculation. The longer your loan tenure, the smaller will be your EMIs but the interest component will be higher. The shorter your loan tenure, the higher will be your EMIs, but the interest component will be lower.

Benefits of Using A Business Loan Calculator From FlexiLoans

A business loan calculator from FlexiLoans has multiple benefits:

• Simplifies the process of calculation: It is essential to compute your business loan EMI before you take a business loan. Enter the values for the loan amount you are planning to borrow, loan tenure, and interest rate. The calculator will compute the business loan EMI instantly and display it.
• It Is Easily Accessible: You can access the FlexiLoans business loan EMI calculator from anywhere, anytime. You can just access it and solve your EMI query instead of solving difficult mathematical equations. You can do it online and do not have to visit the bank physically or contact a customer representative.
• Fast and convenient and it saves time: We all know that we can come to know about our business loan EMIs instantly when we use the EMI calculator. In this fast world, money is business and capital is important. Businesses will have urgent needs and may need money instantly. So, determining the quantum of EMI payments must be done speedily just like the application and disbursal process.
• Accuracy of Calculations: Collateral-free business loan preparation entails accurate estimates so errors in computations may not be good. A business loan EMI calculator will always give you the right or accurate answer.
• Compare various lenders: Another benefit of estimating your monthly installments in advance is that you can compare the EMI sums offered by various lenders. This will help you in choosing the appropriate lender and making a decision before taking out a business loan.

Conclusion

It is fast and simple to compute the business loan EMI using the FlexiLoans business loan EMI calculator. It helps you save time and get funds for your business loans quickly. Therefore, business owners should make the best use of This online tool.