Business Loan EMI Calculator
*The plans are indicative
Business Loan Calculator
With your business plans all set to take the commercial world with a storm, a mere shortfall in finances required should be the last thing that stands between you and your ambition. Whatever your requirement, be it – expanding your cafe, replenishing the general store inventory or maintaining cash flow, we at Clix Capital, have got you covered. You can count on us to be your partners in the journey. Clix Capital, one of the popular NBFCs in India, offers Business Loans for your commercial expansion plans as well as working capital needs.
It is very important to determine the EMI you will pay while availing a Business Loan. This is the first and foremost step when it comes to ascertaining the loan amount that you should avail so that the EMI does not affect your monthly financial needs. You can estimate your EMI using our Business Loan calculator. Lower EMIs with good interest rates and suitable repayment duration can help you in paying your loan back comfortably. Our loans are available to SMEs, Big Business houses, SEZ entities and shop or store owners as well. For us, both your business aspirations as well as the requirements are important.
What is a Business Loan EMI?
When it comes to repaying your Business Loan, Equated Monthly Instalment (EMI) method is the most convenient option. Here, your loan is divided into equal fixed sums so that you can pay on a monthly basis until your loan is fully repaid. The EMI that you need to pay consists of the loan’s principal amount and the interest accrued on it.
This repayment method is very convenient for the small businesses that operate on a tight budget. It is perfect when you want to fund expensive purchases like plant and machinery, equipment, raw materials etc., but do not have enough liquidity to pay for such costs.
What is a Business Loan EMI Calculator?
A little planning goes a long way!
When it comes to planning your way through a Business Loan, it is always wise to have an idea about the estimated EMI. This greatly benefits in aligning your budget every month to avoid having any bottlenecks later.
Business loan EMI calculator is a financial planning tool that helps you in calculating the estimated EMI on the amount of Business Loan you wish to apply for. This calculator helps you to predetermine the amount that you would need to pay at the end of every month if you were to opt for a loan.
How does a Business Loan EMI calculator work?
A Business Loan EMI calculator helps you determine the monthly installments you have to pay, thereby helping you plan your repayment easily. All you need to do is enter details like loan amount and repayment information in the calculator and it will display your projected EMI based on the input.
The calculator uses the following formula:
E = P x r x (1 + r) ^ n / [(1 + r) ^ n – 1]
E is the EMI
P is the principal or loan amount
r is the rate of interest (calculated monthly)
n is the tenor (calculated monthly)
Benefits and Features of a Business Loan EMI Calculator?
There is a wide range of features and benefits of Clix Capital’s Business Loan EMI calculator. Some of them are:
- It is an easily accessible tool that you can use online 24/7
- It is an extremely easy-to-use tool, for which you don’t need to be a technical or mathematical expert
- All the calculations are done automatically, so you easily use it even if you don’t know the formula
- It takes much less time and energy as compared to manual EMI calculations
- Gives you a close estimate of your EMIs so that you can plan your budget accordingly
- Allows you to plan your EMIs and choose your loan plan carefully
Tips to Minimise Business Loan EMIS
- Maintain a strong credit score
- Choose a longer repayment term, however this may increase your total interest outgo
- Identify your needs and apply for the minimum required loan amount
- Make a budget and select a loan tenor accordingly
- Pay high-interest loans first
- Check your expenses and keep them in control
- Make timely EMI payments
What documents do I need to provide for a Business Loan?
You need the following documents for your Business Loan:
- Duly filled application form
- Passport Size Photograph
- Identity Proof
- Address Proof
- Proof of Ownership
- Financial Documents
What is the tenure, EMI, down payment, and interest rate for my Business Loan?
At Clix Capital, you can choose from customized repayment (EMI) and down payment options. However, the interest rate of your Business Loan depends on various factors, such as the specifics of your application (including metrics like business health and income). We will tell you the final applicable interest rate once we go through your application form and all supporting documents when a final and ready to be disbursed final offer is presented to you.
Do I need any collateral to avail this loan?
Not at all! There are no additional collateral or guarantors required to apply for a Business Loan.
What if I miss EMI payment or there is an ECS bounce?
If you miss your EMI payment or there is an ECS bounce then you might face a penalty. In addition, it will reflect in your Credit report and your Credit score may get impacted.
What if there is a delay in paying the Business Loan EMI?
You will be charged a penalty for delaying EMI payment.
How is an EMI calculator helpful in calculating EMIs?
EMI calculator for Business Loan calculates the EMIs of the loan according to the details entered by you. You also get to know about the interest charged on the loan amount that you have entered.
How can I reach out to Clix for more information on Business Loans?
Just call us on our toll-free number at +91-120-6465400 between 9:30 am-6:30 pm from Monday to Saturday (barring public holidays). Alternatively, you can also write to us at firstname.lastname@example.org for any queries around Business Loans.
I’m just planning to start a small-scale business in India. Can I get funding for it from Clix Capital?
Sorry. At present, we are offering Business Loans to existing businesses only with a business vintage of minimum 3 years.
What is the maximum time within which I will have to repay my Business Loan?
We offer loans between ₹ 5-50 lakhs to support your business, but you will have to repay it within 12-36 months. However, if you are a self-employed professional, you get maximum 48 months to repay your loan.