HDFC Business Loan EMI Calculator
Planning to expand your business or meet working capital needs? The HDFC Business Loan EMI Calculator helps you estimate your monthly EMI so you can manage your finances better before applying for a loan with HDFC Bank.
What is a Business Loan EMI?
A Business Loan EMI (Equated Monthly Installment) is a fixed monthly amount you pay to the bank to repay your loan. It includes both the principal and interest components and remains constant during the tenure of the loan if you choose a fixed interest rate.
How the HDFC Business Loan EMI Calculator Works
The calculator uses the following formula:
EMI = [P × R × (1 + R)^N] / [(1 + R)^N – 1]
- P = Principal Loan Amount
- R = Monthly Interest Rate
- N = Loan Tenure in Months
Steps to Use HDFC’s EMI Calculator
- Visit the official HDFC Business Loan EMI Calculator.
- Enter your desired loan amount, interest rate, and loan tenure.
- Click on “Calculate” to get your EMI, total interest payable, and total repayment amount.
Why Use HDFC’s Business Loan EMI Calculator?
- Helps in planning your loan repayment schedule
- Gives a clear understanding of financial commitments
- Enables comparison with loan offers from other banks
- 100% free, online, and easy to use
Example Calculation
Suppose you take a business loan of ₹15,00,000 at an interest rate of 15% per annum for a tenure of 3 years (36 months). Your EMI would be approximately ₹51,936 and the total repayment would be about ₹18,69,693.
FAQs
Q: Is there a processing fee on HDFC business loans?
Yes, HDFC Bank may charge a processing fee, which will be disclosed at the time of application.
Q: Can I prepay or foreclose my HDFC business loan?
Yes, HDFC allows prepayment or foreclosure, but charges may apply. Refer to their terms and conditions for details.
Q: Is the EMI fixed throughout the tenure?
Yes, if the interest rate is fixed. For floating rate loans, the EMI may vary with rate changes.