Calculate EMI for business loans, term loans, and working capital. View total interest and payment breakup.
Or enter values manually:
Monthly EMI
₹33,214
You will pay ₹33,214 monthly for 36 months. Total interest paid will be ₹1,95,696 (16% of loan amount).
EMI = P × r × (1 + r)n / ((1 + r)n - 1)
Loan Amount
Higher principal = Higher EMI
Interest Rate
Higher rate = Higher EMI & total interest
Loan Tenure
Longer tenure = Lower EMI but higher total interest
EMI uses the formula: EMI = P × r × (1 + r)^n / ((1 + r)^n - 1), where P is principal, r is monthly rate, and n is tenure in months. This gives the fixed monthly payment including principal and interest.
Business loan rates range from 10-24% p.a. Banks offer 10-16% while NBFCs charge 14-24%. Secured loans have lower rates than unsecured loans.
Longer tenure = lower EMI but more total interest. Shorter tenure = higher EMI but less interest. Choose based on cash flow comfort.
Yes, prepaying reduces principal and lowers interest. Some lenders charge 2-4% prepayment penalty, so check your loan terms.
Yes, interest on business loans is a deductible expense. It reduces taxable business income, effectively lowering your tax liability. With TallyPrime, you can track loan interest payments and generate reports for accurate tax filing.
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TallyPrime helps track loan EMIs, interest payments, and outstanding balances. Need help setting it up? Explore our Tally support services.