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IDBI Business Loan EMI Calculator India Dec 2019

Last Updated 12th Nov 2019

Get monthly EMI as low as Rs. 2,275 per lakh on IDBI Bank business loan. Business loan EMI in IDBI Bank depends upon loan annual turnover, gross receipts, number of years of ITR, loan amount, loan tenure and interest rate.

Business Loan EMI Calculator IDBI Bank

Loan Amount1 year loan2 year loan5 year loan
₹ 5 Lakh₹ 44,659₹ 23,771₹ 11,377
₹ 10 Lakh₹ 89,317₹ 47,542₹ 22,753
₹ 20 Lakh₹ 1,78,635₹ 95,084₹ 45,506
Business Loan EMI Calculator
Rs.

Business Loan Calculator IDBI Bank

  • Business loan EMI (or equated monthly installment) is a fixed amount of money paid by you to IDBI 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.
  • IDBI Bank offers business loans with loan tenure up to 60 months that translates into a lowest loan EMI of Rs. 2,275 per lakh, which makes it affordable for business loan borrowers. Lowest Rate of interest offered by IDBI Bank on business loan is 13.00%.
Use EMI Calculator to Calculate your EMI on Business Loan at Different Tenure

Business loan EMI for Rs. 10 Lakh loan amount at lowest 13.00% interest rate offered by IDBI Bank for different tenures

1 year 2 year 5 year
IDBI Bank EMI for loan amount of Rs. 10 lakh at 13.00% Rs. 89,317 Rs. 47,542 Rs. 22,753
Total amount you pay back to the bank including principal and interest Rs. 11.36 Lakh Rs. 12.92 Lakh Rs. 18.96 Lakh
Interest you have to pay over loan tenure Rs. 1.36 Lakh Rs. 2.92 Lakh Rs. 8.96 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 5 years, you pay the lowest EMI of Rs. 22,753 . However, you pay an interest of Rs. 8.96 Lakh on a Rs. 10 Lakh loan.
  • In contrast, if you take a Rs. 10 Lakh loan from IDBI Bank at the lowest loan rate offered for a period of 1 year, you pay a higher loan EMI of Rs. 89,317 and pay an interest of only Rs. 1.36 Lakh which is less than half of what you paid in a 5 year loan. Hence, it is advisable to choose your loan tenure wisely as longer tenure means high interest expenses.

Factors affecting IDBI Bank Business Loan EMI

  • Loan amount - This is the amount borrower promises to repay to the bank with the interest applied. IDBI Bank gives minimum business loan of Rs. 50,000 up to an amount of Rs. 5 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 IDBI Bank is 13.00%. 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, IDBI Bank offers business loan for a maximum tenure of 60 months.

IDBI Business Loan Calculator Formula

P*r* (1+r)^n/([(1+r)^n]-1)
Here is an illustration of how IDBI business loan EMI is calculated:
In above formula,
P = Loan amount. This can range from Rs. 50,000 to Rs. 5 Lakh
r = Rate of interest per month. Current rate is 13.00%
n = tenure in month. For IDBI, this can be 60 months

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

  • Ascertain the amount you need to borrow: It is important that before approaching IDBI Bank 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 IDBI Bank, 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 IDBI Bank Business Loan Calculator

What is the calculation of IDBI Bank Business Loan EMI?
  • Business Loan EMI (or equated monthly installment) is a fixed amount of money paid by you to IDBI 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.
  • Business Loan EMI (or equated monthly installment) is a fixed amount of money paid by you to IDBI 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 IDBI Bank offering business loan with loan tenure up to 60 months, the loan EMI can be as low as Rs. 2,275 per lakh, to make it more affordable and convenient to meet your business needs. Rate of interest offered by IDBI Bank are as low as 13.00%. You can check EMI for other tenures using our IDBI Bank 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 IDBI Bank 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 IDBI Bank 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, IDBI Bank 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 IDBI Bank, 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?
  • IDBI Bank 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 IDBI Bank loan EMI before taking a loan?

It is advised to calculate EMI prior to taking a loan. There are several benefits of calculating your IDBI Bank 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

IDBI Bank Business Loan EMI Calculator Customer Care Number, Email, Application Status, Branches
City Customer Care Number
IDBI Bank 1800-200-1947
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IDBI Bank 1800-200-1947
IDBI Bank 022 2207 8732
IDBI Bank 080 2238 6757
IDBI Bank 1800-200-1947
IDBI Bank 1800-200-1947
IDBI Bank 1800-200-1947
IDBI Bank 1800-200-1947
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IDBI Bank 011 2399 4348
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IDBI Bank 022 2207 8732
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IDBI Bank 0120 270 0798
IDBI Bank 1800-200-1947
IDBI Bank 1800-200-1947
IDBI Bank 040 6690 8171
IDBI Bank 1800-200-1947
IDBI Bank 1800-200-1947
IDBI Bank 1800-200-1947
IDBI Bank 1800-200-1947
IDBI Bank 1800-200-1947
IDBI Bank 022 2207 8732
IDBI Bank 1800-200-1947
IDBI Bank 022 2207 8732
IDBI Bank 033 2568 6253
IDBI Bank 1800-200-1947
IDBI Bank 1800-200-1947
IDBI Bank 1800-200-1947
IDBI Bank 1800-200-1947
IDBI Bank 1800-200-1947
IDBI Bank 1800-200-1947
IDBI Bank 1800-200-1947
IDBI Bank 1800-200-1947
IDBI Bank 022 2207 8732
IDBI Bank 1800-200-1947
IDBI Bank 022 2207 8732
IDBI Bank 022 2207 8732
IDBI Bank 0120 270 0798
IDBI Bank 0120 270 0798
IDBI Bank 1800-200-1947
IDBI Bank 1800-200-1947
IDBI Bank 1800-200-1947
IDBI Bank 020 6603 0300
IDBI Bank 1800-200-1947
IDBI Bank 1800-200-1947
IDBI Bank 1800-200-1947
IDBI Bank 1800-200-1947
IDBI Bank 1800-200-1947
IDBI Bank 044 4303 6648
IDBI Bank 1800-200-1947
IDBI Bank 1800-200-1947
IDBI Bank 1800-200-1947
IDBI Bank 1800-200-1947
IDBI Bank 1800-200-1947
IDBI Bank 1800-200-1947
IDBI Bank 1800-200-1947
IDBI Bank 1800-200-1947
IDBI Bank 1800-200-1947
IDBI 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