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Bank of Baroda Business Loan EMI Calculator India Dec 2019

Last Updated 03rd Dec 2019

Get monthly EMI as low as Rs. 3,423 per lakh on Bank of Baroda business loan. Business loan EMI in Bank of Baroda depends upon loan annual turnover, gross receipts, number of years of ITR, loan amount, loan tenure and interest rate.

Business Loan EMI Calculator Bank of Baroda

Loan Amount1 year loan2 year loan3 year loan
₹ 5 Lakh₹ 44,917₹ 24,030₹ 17,113
₹ 10 Lakh₹ 89,834₹ 48,060₹ 34,226
₹ 20 Lakh₹ 1,79,668₹ 96,120₹ 68,452
Business Loan EMI Calculator
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Business Loan Calculator Bank of Baroda

  • Business loan EMI (or equated monthly installment) is a fixed amount of money paid by you to Bank of Baroda against the loan taken. This is towards repayment of your loan to the bank. Every month, it is due on a fixed day of the month till your loan is fully paid back.
  • Bank of Baroda offers business loans with loan tenure up to 36 months that translates into a lowest loan EMI of Rs. 3,423 per lakh, which makes it affordable for business loan borrowers. Lowest Rate of interest offered by Bank of Baroda on business loan is 14.10%.
Use EMI Calculator to Calculate your EMI on Business Loan at Different Tenure

Business loan EMI for Rs. 10 Lakh loan amount at lowest 14.10% interest rate offered by Bank of Baroda for different tenures

1 year 2 year 3 year
Bank of Baroda EMI for loan amount of Rs. 10 lakh at 14.10% Rs. 89,834 Rs. 48,060 Rs. 34,226
Total amount you pay back to the bank including principal and interest Rs. 11.49 Lakh Rs. 13.19 Lakh Rs. 15.15 Lakh
Interest you have to pay over loan tenure Rs. 1.49 Lakh Rs. 3.19 Lakh Rs. 5.15 Lakh
  • The above table shows the longer your loan tenure, lower is the EMI you pay on the loan. However, your total interest outgo is significantly higher in a long tenure loan. In the above example, if you take Rs. 10 Lakh loan for a period of 3 years, you pay the lowest EMI of Rs. 34,226 . However, you pay an interest of Rs. 5.15 Lakh on a Rs. 10 Lakh loan.
  • In contrast, if you take a Rs. 10 Lakh loan from Bank of Baroda at the lowest loan rate offered for a period of 1 year, you pay a higher loan EMI of Rs. 89,834 and pay an interest of only Rs. 1.49 Lakh which is less than half of what you paid in a 3 year loan. Hence, it is advisable to choose your loan tenure wisely as longer tenure means high interest expenses.

Factors affecting Bank of Baroda Business Loan EMI

  • Loan amount - This is the amount borrower promises to repay to the bank with the interest applied. Bank of Baroda gives minimum business loan of Rs. 1 Lakh up to an amount of Rs. 2 Lakh.
  • Interest rate - Interest rate is the rate charged over the principal amount borrowed. Higher interest rate increases your loan EMI which will increase the total cost of the loan. Lowest interest rate offered by Bank of Baroda is 14.10%. Do complete market research and compare rates online before you apply for a business loan.
  • Loan tenure - This is the period in which you can repay your business loan to the bank. Longer loan tenure means lower loan EMI. Generally, Bank of Baroda offers business loan for a maximum tenure of 36 months.

Bank of Baroda Business Loan Calculator Formula

P*r* (1+r)^n/([(1+r)^n]-1)
Here is an illustration of how Bank of Baroda business loan EMI is calculated:
In above formula,
P = Loan amount. This can range from Rs. 1 Lakh to Rs. 2 Lakh
r = Rate of interest per month. Current rate is 14.10%
n = tenure in month. For Bank of Baroda, this can be 36 months

Tips to decide the right amount of Bank of Baroda Business Loan EMI

  • Ascertain the amount you need to borrow: It is important that before approaching Bank of Baroda for business loan, you need to estimate the amount of loan you need to borrow. Remember business loan is an unsecured short term loan, and hence it is advisable to minimize your loan amount to the extent possible. Also, based on the EMI you can service, try to opt for lowest tenure of loans as long tenure loans result in huge interest outgo.
  • Review your current obligations: Before taking loan from Bank of Baroda, it is advisable to do an evaluation of your current monthly expenses including any EMI obligations that you have on your current loans. The assessment will help you to estimate the amount of EMI you can pay comfortably after taking into account other obligations. Once you arrive at the EMI you can service, you can also decide on the right loan tenure.

FAQs on Bank of Baroda Business Loan Calculator

What is the calculation of Bank of Baroda Business Loan EMI?
  • Business Loan EMI (or equated monthly installment) is a fixed amount of money paid by you to Bank of Baroda against the loan taken. This is towards repayment of your loan to the bank. Every month, it is due on a fixed day of the month till your loan is fully paid back.
  • Business Loan EMI (or equated monthly installment) is a fixed amount of money paid by you to Bank of Baroda against the loan taken. This is towards repayment of your loan to the bank. Every month, it is due on a fixed day of the month till your loan is fully paid back.
  • With Bank of Baroda offering business loan with loan tenure up to 36 months, the loan EMI can be as low as Rs. 3,423 per lakh, to make it more affordable and convenient to meet your business needs. Rate of interest offered by Bank of Baroda are as low as 14.10%. You can check EMI for other tenures using our Bank of Baroda business loan calculator.
  • This EMI consists of both interest payment and principal repayment. Though the EMI amount will remain constant, the principal component keeps increasing and on the other hand the interest component keeps reducing.
How does MyLoanCare business loan calculator calculate EMI?
  • This calculator calculates EMI considering a combination of loan amount, interest rate and loan tenure.
  • This calculator considers “reducing balance basis” and assumes that payment of EMI is made in arrears (means interest is charged for the month preceding the EMI payment date) and not in advance.
Will the Bank of Baroda business loan EMI remain constant or change in future? What happens in case of increase or decrease in interest rate?
  • Typically, the business loan EMI remains unchanged unless the customer requests for a change and the same is approved by Bank of Baroda subject to its eligibility conditions (note that nominal charges may apply for effecting a customer initiated change in EMI).
  • In case the floating rate of interest on your business loan increases, Bank of Baroda will typically keep the EMI constant but increase the loan tenure. So, you will pay the same EMI but for a longer duration. In case the interest rates increase to an extent that the revised loan tenure is more than the maximum permissible by Bank of Baroda, the bank may increase your EMI amount.
  • For partly disbursed loans availed under tranche EMI scheme, your loan EMI will increase with each disbursement.
Will business loan EMI change in case of prepayment?
  • Bank of Baroda allows prepayment at nil charges or penalty in case of floating rate business loans.
  • When you make a prepayment, the outstanding principal amount on your loan reduces. In this case, you may choose to either keep the EMI same and reduce the loan tenure (that is paying off the loan faster) or reduce the EMI and keep the loan tenure same (that is paying lesser amount every month). It is beneficial to keep the EMI constant and reduce the loan tenure as you pay less interest to the bank in this option.
Why should I calculate Bank of Baroda loan EMI before taking a loan?

It is advised to calculate EMI prior to taking a loan. There are several benefits of calculating your Bank of Baroda business loan EMI as discussed below -

  • In case EMI comes out to be more than your monthly budget, then you have the chance to apply for a lower loan amount which fits your monthly budget and makes EMI easily affordable.
  • If you already know the EMI you have to pay each month, then you can plan your expenses accordingly.
  • Based on the EMI amount, you can opt for making prepayment of your business loan in future when you have surplus amount.

Compare Business Loan EMI of All Banks

Bank of Baroda Business Loan EMI Calculator Customer Care Number, Email, Application Status, Branches
City Customer Care Number
Bank of Baroda 0562-253567
Bank of Baroda 1800-223-344
Bank of Baroda 1800-223-344
Bank of Baroda 0265-2361852
Bank of Baroda 0832-224003
Bank of Baroda 080-22224746
Bank of Baroda 1800-223-344
Bank of Baroda 1800-102-4455
Bank of Baroda 0832-224003
Bank of Baroda 0755-556274
Bank of Baroda 0674-2517435
Bank of Baroda 1800-102-4455
Bank of Baroda 0172-701617
Bank of Baroda 044-23454249
Bank of Baroda 0484-4027903
Bank of Baroda 0422-2303735
Bank of Baroda 05946-22178
Bank of Baroda 011-3319192
Bank of Baroda 1800-223-344
Bank of Baroda 0129-2412681
Bank of Baroda 0265-2361852
Bank of Baroda 0120-2790111
Bank of Baroda 0832-224003
Bank of Baroda 011-3319192
Bank of Baroda 011-3319192
Bank of Baroda 0361-2540475
Bank of Baroda 1800-223-344
Bank of Baroda 1800-223-344
Bank of Baroda 1800-223-344
Bank of Baroda 1800-223-344
Bank of Baroda 0141-363056
Bank of Baroda 0172-701617
Bank of Baroda 0291-550084
Bank of Baroda 0512-215655
Bank of Baroda 0172-701617
Bank of Baroda 0832-224003
Bank of Baroda 1800-223-344
Bank of Baroda 0291-550084
Bank of Baroda 0484-4027903
Bank of Baroda 0522-206028
Bank of Baroda 0172-701617
Bank of Baroda 0422-2303735
Bank of Baroda 0562-253567
Bank of Baroda 0265-2361852
Bank of Baroda 0172-701617
Bank of Baroda 022-22614706
Bank of Baroda 05946-22178
Bank of Baroda 0712-527466
Bank of Baroda 0712-527466
Bank of Baroda 011-3319192
Bank of Baroda 011-3319192
Bank of Baroda 1800-223-344
Bank of Baroda 0612-2452336
Bank of Baroda 1800-223-344
Bank of Baroda 020-5466917
Bank of Baroda 0771-526081
Bank of Baroda 0281-225686
Bank of Baroda 0657-2426802
Bank of Baroda 1800-223-344
Bank of Baroda 05946-22178
Bank of Baroda 0422-2303735
Bank of Baroda 1800-223-344
Bank of Baroda 1800-223-344
Bank of Baroda 0261-3462216
Bank of Baroda 0422-2303735
Bank of Baroda 0294-522203
Bank of Baroda 0265-2361852
Bank of Baroda 0542-2366349
Bank of Baroda 040-23421603
Bank of Baroda 040-23421603
Bank of Baroda Business Loan News - Dec 2019
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More