A Quick Guide On How To Avail A CA Loan In India
Nov 26, 2024 | 4 mins read
The SME Loan EMI calculator enables you to understand the monthly repayment amounts based on the loan amount, tenure and interest rate. Understanding repayment obligations is crucial for effective financial planning for businesses, especially small and medium enterprises. Tools like the SME Loan calculator ensure that you choose the right loan structure without overburdening your cash flow.
Estimate your SME Loan EMIs in a few simple steps
Preferred loan amount
Interest rate (per annum)
Loan tenure (months)
Estimated EMI
per monthInterest payable
₹60,153An amortisation schedule provides details like loan tenure, EMI / EPI amount, and principal & interest proportion of each instalment. However, it is an estimate and actual values may vary upon loan disbursement.
EMI Nos | Opening Principal | EMI | Interest | Principal Repayment | Closing Principal |
---|---|---|---|---|---|
1 | 7,00,000 | 63,346 | 9,042 | 54,304 | 6,45,696 |
2 | 6,45,696 | 63,346 | 8,340 | 55,006 | 5,90,690 |
3 | 5,90,690 | 63,346 | 7,630 | 55,716 | 5,34,973 |
4 | 5,34,973 | 63,346 | 6,910 | 56,436 | 4,78,537 |
5 | 4,78,537 | 63,346 | 6,181 | 57,165 | 4,21,372 |
6 | 4,21,372 | 63,346 | 5,443 | 57,903 | 3,63,469 |
7 | 3,63,469 | 63,346 | 4,695 | 58,651 | 3,04,818 |
8 | 3,04,818 | 63,346 | 3,937 | 59,409 | 2,45,409 |
9 | 2,45,409 | 63,346 | 3,170 | 60,176 | 1,85,233 |
10 | 1,85,233 | 63,346 | 2,393 | 60,954 | 1,24,279 |
11 | 1,24,279 | 63,346 | 1,605 | 61,741 | 62,538 |
12 | 62,538 | 63,346 | 808 | 62,538 | 0 |
The EMI for an SME Loan is calculated using a standard formula that considers the loan amount, interest rate, and repayment tenure.
EMI Calculation Formula
EMI = P x R x (1+R)^N / [(1+R)^N-1]
Where:
P = Principal loan amount
r = Monthly interest rate (annual rate divided by 12)
n = Loan tenure in months
Using an SME Loan calculator offers multiple advantages:
1. Financial Planning
Helps you budget effectively by understanding the repayment obligations upfront.
2. Comparison of Loan Options
Evaluate different loan amounts, tenures, and interest rates to choose the best fit for your business.
3. Time Efficiency
Eliminates the need for manual calculations, providing instant results.
The SME Loan calculator empowers businesses with clarity, enabling better decision-making.
Several factors influence the EMI amount for SME Loans:
1. Loan Amount
A higher loan principal leads to proportionally larger EMIs.
2. Interest Rate
A lower interest rate calculator value decreases the monthly repayment amount.
3. Loan Tenure
A longer tenure reduces EMI but increases the overall interest payable.
4. Early Repayment and Prepayment
Prepaying a portion of the loan reduces the outstanding balance, lowering subsequent EMIs.
Understanding these factors ensures borrowers can optimise their loan terms and reduce repayment stress.
Yes, applicable taxes like GST may be added to processing fees and other charges.
Yes, most lenders require ITRs to assess financial stability. However, specific requirements may vary by lender.
Yes, registration is required to qualify for MSME-specific loan benefits.
business's and MSMEs can get a loan of up to ₹ 75 Lakh with L&T Finance.
Generally, businesses must be operational for atleast 3 years, but requirements may differ based on the lender.
No, there is no application fee but other charges apply.
Longer tenures reduce monthly EMIs but increase the total interest payable over the loan period.
L&T Finance offers loan amounts starting from ₹ 7 Lakh to ₹ 75 Lakh*, depending on your business profile.
Audited financials strengthen your application, but you can apply for an business loan without audited financial statements.
Yes, the formula remains the same but the inputs like interest rates and tenures may vary by loan type.
Yes, applicable taxes like GST may be added to processing fees and other charges.
Yes, most lenders require ITRs to assess financial stability. However, specific requirements may vary by lender.
Yes, registration is required to qualify for MSME-specific loan benefits.
business's and MSMEs can get a loan of up to ₹ 75 Lakh with L&T Finance.
Generally, businesses must be operational for atleast 3 years, but requirements may differ based on the lender.
No, there is no application fee but other charges apply.
Longer tenures reduce monthly EMIs but increase the total interest payable over the loan period.
L&T Finance offers loan amounts starting from ₹ 7 Lakh to ₹ 75 Lakh*, depending on your business profile.
Audited financials strengthen your application, but you can apply for an business loan without audited financial statements.
Yes, the formula remains the same but the inputs like interest rates and tenures may vary by loan type.
Yes, applicable taxes like GST may be added to processing fees and other charges.
Yes, most lenders require ITRs to assess financial stability. However, specific requirements may vary by lender.
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