ICICI Business Loan EMI Calculator
Looking to scale your business with a loan from ICICI Bank? Use the ICICI Business Loan EMI Calculator to find out your monthly EMI, total interest outgo, and the total repayment amount—helping you make informed financial decisions before applying.
What is a Business Loan EMI?
A Business Loan EMI is the fixed monthly amount you repay to the bank, including both principal and interest. ICICI Bank offers flexible repayment tenures and competitive interest rates for its business loan customers.
ICICI Business Loan EMI Formula
The EMI is calculated using this standard formula:
EMI = [P × R × (1 + R)^N] / [(1 + R)^N – 1]
- P = Principal amount
- R = Monthly interest rate
- N = Loan tenure in months
How to Use ICICI’s EMI Calculator
- Go to the ICICI Business Loan EMI Calculator.
- Enter your loan amount, interest rate, and loan tenure.
- Click “Calculate” to see your EMI and repayment breakdown.
Benefits of Using the ICICI EMI Calculator
- Quick and easy to use
- Provides detailed EMI and interest calculations
- Helps plan business finances better
- No login or personal details required
Example Calculation
If you borrow ₹8,00,000 at an interest rate of 16% for 4 years (48 months), your EMI would be approximately ₹22,776. The total repayment amount would be ₹10,92,928.
FAQs
Q: Can I foreclose my ICICI business loan?
Yes, ICICI allows foreclosure with applicable charges. Check the loan agreement or bank website for exact terms.
Q: Are the interest rates fixed or floating?
ICICI offers both fixed and floating rate options based on the applicant’s profile and loan terms.
Q: Is using the EMI calculator free?
Yes, the ICICI Business Loan EMI Calculator is completely free and available online.