Axis Bank Business Loan EMI Calculator
Planning to fund your business growth with a loan? The Axis Bank Business Loan EMI Calculator helps you determine your monthly repayments, interest cost, and total repayment amount so that you can plan your finances confidently.
What is a Business Loan EMI?
EMI or Equated Monthly Installment is the amount you pay each month towards repaying your Axis Bank business loan. It includes both the interest and principal components, and remains fixed throughout the loan tenure (if the interest rate is fixed).
EMI Calculation Formula
The EMI is calculated using the following formula:
EMI = [P × R × (1 + R)^N] / [(1 + R)^N – 1]
- P = Loan amount
- R = Monthly interest rate (Annual interest ÷ 12 ÷ 100)
- N = Loan tenure in months
How to Use the Axis Bank EMI Calculator
- Visit the official Axis Bank Business Loan EMI Calculator.
- Enter your loan amount, interest rate, and desired repayment period.
- Click “Calculate” to get your EMI amount, interest payable, and total cost.
Advantages of Using the Calculator
- Instant EMI estimation
- Improves financial planning
- User-friendly and accessible online
- No personal information required
Example Calculation
Suppose you borrow ₹12,00,000 at 14% interest for 5 years (60 months). Your EMI would be approximately ₹27,925. Over the tenure, the total repayment amount would be ₹16,75,500.
Frequently Asked Questions
Q: Can I prepay my Axis Bank business loan?
Yes, Axis Bank allows prepayment or foreclosure of business loans, subject to certain terms and charges.
Q: Are interest rates fixed or floating?
Axis Bank generally offers fixed interest rates for business loans, but it may vary based on the loan product.
Q: Is the EMI calculator result accurate?
The calculator gives an estimate. Final EMI may vary based on actual loan terms approved by Axis Bank.