A business loan can be availed with or without security, it all depends on the bank that is offering the loan and then the amount of risk they are ready to take. There are many banks in India that offers loan for both small and big businesses, irrespective of whether the loan is for an existing business or to start a brand new one. Getting approval and money is possible within a few days, if you have all necessary documents and meet the eligibility criteria. Here are the eligibility criteria for the application of a business loan in India.
Equated Monthly Installment is the full form of Emi. It is the amount you pay back in installments to the financial institutes towards the repayment of loan. Your Loan EMI consists of a principal and interest component. In the beginning the interest component is higher than the principal component and over a period of time the interest component is lesser than the principal.
We offer you an easy to use Business Loan EMI Calculator that will help you to quickly determine the monthly installments you are likely to pay on the repayment of your loan. This EMI calculator lets you allocate your resources efficiently, so as to enable you to manage your budget every month. Please take a look at our Amortization Chart as given below