Axis Business Loan EMI Calculator
Knowing your EMI to be paid against the borrowed amount should be the priority task for an applicant. This helps the applicant in planning the loan in a more organized manner, considering the other daily or household expenses. EMI calculator asks for only a few basic loan details that include desired loan amount, interest rate offered by Axis bank and chosen repayment tenure. Instant results are provided by the calculator after submitting the required information.
Comparison of Business Loan Interest Rates offered by Top Banks/NBFCs
| Bank/NBFCs | Interest Rate | |
| Axis Bank | 10.75% p.a. onwards | Apply Now |
| Flexiloans | 1% per month onwards | Apply Now |
| HDB Financial Services Ltd. | 8% - 26% p.a. | Apply Now |
| HDFC Bank | 10.75% - 25% p.a. | Apply Now |
| IDFC First Bank | 10.50% p.a. onwards | Apply Now |
| Indifi | 1.50% per month onwards | Apply Now |
| Kotak Mahindra Bank | 16% - 26% p.a. | Apply Now |
| Lendingkart | 12% - 27% p.a. | Apply Now |
| Mcapital | 2% per month onwards | Apply Now |
| NeoGrowth Finance | 15% - 40% p.a. | Apply Now |
| Tata Capital | 12% p.a. onwards | Apply Now |
| UGRO Capital | 9% - 36% p.a. | Apply Now |
How to access Paisabazaar’s EMI Calculator for Business Loan?
Before availing any loan, applicants can compare loan EMIs of various business or MSME loan options offered by Axis bank by visiting paisabazaar.com. Besides loan EMIs, applicants can get information related to the full Amortization schedule, as per the loan requirements.
Components of Amortization Schedule
- Opening Balance
- Interest paid during the year
- Principal repaid during the year
- Closing Balance
After checking the loan EMI, individuals can proceed with the filling and submission of loan application form and loan formalities.
Formula to Calculate Business Loan EMI
Formula:
[P x R x (1+R) ^ N]/[(1+R) ^ (N-1)]
Wherein,
P refers to the loan principal;
R refers to the rate of interest on a monthly basis;
N refers to the loan repayment tenure in months.
Why to choose Axis Bank for MSME/Business Loans?
Availing business loan from Axis bank is beneficial in many ways as mentioned below:
- Competitive interest rates
- Wide range of MSME, Business, Corporate, Term or Working Capital Loans
- Collateral Free loans up to Rs. 15 lakh
- Processing fee up to 1.75% of the loan amount
- Business loans on the basis of GST returns
- Disbursals in few minutes for loans up to Rs. 15 lakh