ICICI Business Loan EMI Calculator Aug 2017
Last Updated 22nd Aug 2017
ICICI Bank Lowest Business Loan EMI Rs. 2,232 per lakh
|Loan Amount (Rs.)||2 Years||3 Years||5 Years|
|100,000||Rs. 4,714||Rs. 3,329||Rs. 2,232|
|300,000||Rs. 14,143||Rs. 9,986||Rs. 6,696|
|500,000||Rs. 23,572||Rs. 16,643||Rs. 11,160|
|1,000,000||Rs. 47,144||Rs. 33,286||Rs. 22,320|
Business Loan EMI Calculator
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Factors affecting Business Loan EMI
- Borrower Age: ICICI Bank offers loan to borrowers with minimum age of 25 years and a maximum age of 65 years.
- Maximum loan amount: The maximum business loan amount offered by ICICI Bank is up to Rs. 4,000,000.
- Interest Rates: Interest rates range from 12.15% to 16.65% depending upon customer profile, loan amount and other factors.
- Processing fee: Processing fee may be 2% of loan amount. Special schemes from time to time may offer a lower or a flat fee in case of some select corporates.
What is the calculation of ICICI Business Loan EMI?
- Business Loan EMI (or equated monthly instalment) is a fixed amount of money paid by you to ICICI Bank 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 ICICI Bank offering Business Loans with loan tenure upto 5 years, the loan EMI can be as low as Rs. 2,232 per lakh, to make it more affordable and convenient to meet your business needs. Rate of interest offered by ICICI Bank are as low as 12.15%. You can check EMI for other tenures using our ICICI Bank Business Loan EMI 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.
ICICI Bank Business Loan EMI Calculator Customer Care Number, Email, Application Status, Branches
|City||Customer Care Number|
|Gurgaon||0124-3366777/ 0124- 4445500|
|Mohali Sas Nagar||730-766-7777|
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