{"id":4629,"date":"2019-06-26T06:16:14","date_gmt":"2019-06-26T06:16:14","guid":{"rendered":"\/blog\/?p=4629"},"modified":"2020-01-08T06:23:48","modified_gmt":"2020-01-08T06:23:48","slug":"how-to-use-the-new-innovative-business-loan-calculator","status":"publish","type":"post","link":"https:\/\/tata-blog.osian.dev\/blog\/loan-for-business\/how-to-use-the-new-innovative-business-loan-calculator\/","title":{"rendered":"How to use the new innovative Business Loan Calculator"},"content":{"rendered":"\n

As a businessman, you are comfortable with numbers, equations, ratios, revenues, profits, EMIs, principal amount, loan tenure and interest rates. We want you to tell us what the following equation calculates<\/p>\n\n\n\n

Know More<\/a><\/div>\n\n\n\n

P\u00d7r\u00d7(1 + r)n<\/sup>\/((1 + r)n<\/sup> – 1) where <\/p>\n\n\n\n

P is principal, <\/p>\n\n\n\n

r is the rate of interest and <\/p>\n\n\n\n

n is the tenure in number of years<\/p>\n\n\n\n

If you answered EMI, then you are absolutely right. <\/p>\n\n\n\n

Now, imagine you are taking a business loan at a particular business loan interest rate and you want to know the EMI. You could do the calculation using the above equation manually and come up with the answer. You find the EMI is too high and want to reduce it. So, you reduce the principal amount and recalculate the EMI manually using the above equation. But, you want to see if you can retain the original principal amount and increase n which represents tenure. You again use the above equation and calculate EMI manually. Now, you are in a position to decide your EMI.<\/p>\n\n\n\n

Probably, you found the manual calculation tedious and it tested your\npatience. You could have made errors while solving the equation for different\nvalues of P, r and n. You felt the need\nfor an easier way to calculate EMIs.<\/p>\n\n\n\n

There is a simple way to calculate EMI, and that is to use our Business Loan Calculator, a convenient and effortless way to calculate EMIs. Our Business Loan Calculator uses software to calculate EMIs quickly and is free of errors. <\/p>\n\n\n\n

How to use the Business Loan\nCalculator<\/strong><\/p>\n\n\n\n

Using the calculator is simple, easy and effortless. All you have to\nfeed are the following values<\/p>\n\n\n\n

Business loan amount required<\/p>\n\n\n\n

Rate of interest <\/p>\n\n\n\n

Tenure of the loan in months<\/p>\n\n\n\n

When you click on \u2018calculate\u2019 the calculator displays the following\nthree results<\/p>\n\n\n\n

EMI amount<\/p>\n\n\n\n

Total interest amount paid for the tenure<\/p>\n\n\n\n

Total amount repayable which is the principal amount plus the interest\npayable  <\/p>\n\n\n\n

Now, you can change any of the three variables \u2013 P, r and n and recalculate the EMI. You can do this process as many times as you want till you are comfortable with the principal amount, loan tenure and interest rate that offer you the EMI that you can afford.\u00a0 With our business loan<\/a> calculator deciding on the business loan parameters is as simple as saying 123 – just entering 3 values to our calculator. <\/p>\n\n\n\n

Apply Now<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

As a businessman, you are comfortable with numbers, equations, ratios, revenues, profits, EMIs, principal amount, loan tenure and interest rates. We want you to tell us what the following equation calculates<\/p>\n

Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":4636,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[26],"tags":[],"class_list":["post-4629","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-loan-for-business"],"yoast_head":"\nHow to use the new innovative Business Loan Calculator - Business Loans Blog - Tata Capital<\/title>\n<meta name=\"description\" content=\"Want to calculate your Business Loan EMI? Tata Capital's Business Loan Calculator uses software to calculate EMIs quickly and is free of errors. 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