 |50k|5L|10L|15L|20L|25L|30L|35L|40L|45L|50L
Month
|12|24|36|48|60
%
|11|15|20|25|30|35

## Calculations

Your loan details as specified by you

EMI ()
4,419
Total Payable Interest ()
3,029
Total Payments Made Over Loan Term ()
53,029
Interest Amount ()
3,029
Principal Amount ()
50,000
Total Payments ()
53,029
YearOpening Balance ()EMI ()Interest paid monthly ()Principal paid monthly ()Closing Balance ()
202350,00052,9883,02650,0420

Formula for Business Loan EMI Calculation:

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

Where,

E: Equivalent Monthly Installment,

P: Principal or total loan amount,

r: Interest rate per month (the annual interest rate is divided by 12 to get the monthly interest rate), and

n: Number of monthly instalments or loan tenure in months.

*This formula excludes the business loan processing fee charged by the bank.

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