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Bajaj Finance Business Loan EMI Calculator India Jul 2021

Business Loan EMI Calculator Bajaj Finserv

Last Updated 19th Jul 2021

Get monthly EMI as low as ₹ 2,938 per lakh on Bajaj Finserv business loan. Business loan EMI in Bajaj Finserv depends upon loan annual turnover, gross receipts, number of years of ITR, loan amount, loan tenure and interest rate.

Loan Amount1 Year Loan2 Year loan4 Year loan
₹ 1 Lakh₹ 9,168₹ 4,992₹ 2,938
₹ 5 Lakh₹ 45,840₹ 24,962₹ 14,688
₹ 10 Lakh₹ 91,680₹ 49,924₹ 29,375
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Business Loan Calculator Bajaj Finserv

  • Business loan EMI (or equated monthly installment) is a fixed amount of money paid by you to Bajaj Finserv 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.
  • Bajaj Finserv offers business loans with loan tenure up to 48 months that translates into a lowest loan EMI of ₹ 2,938 per lakh, which makes it affordable for business loan borrowers. Lowest Rate of interest offered by Bajaj Finserv on business loan is 18.00%.

Use EMI Calculator to Calculate your EMI on Business Loan at Different Tenure

Business loan EMI for ₹ 10 Lakh loan amount at lowest 18.00% interest rate offered by Bajaj Finserv for different tenures

1 year 2 year 4 year
Bajaj Finserv EMI for loan amount of ₹ 10 Lakh at 18.00% ₹ 91,680 ₹ 49,924 ₹ 29,375
Total amount you pay back to the bank including principal and interest ₹ 11,92,519 ₹ 14,22,101 ₹ 20,22,370
Interest you have to pay over loan tenure ₹ 1,92,519 ₹ 4,22,101 ₹ 10,22,370
  • 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 ₹ 10 Lakh loan for a period of 4 years, you pay the lowest EMI of ₹ 29,375. However, you pay an interest of ₹ 10,22,370 on a ₹ 10 Lakh loan.
  • In contrast, if you take a ₹ 10 Lakh loan from Bajaj Finserv at the lowest loan rate offered for a period of 1 year, you pay a higher loan EMI of ₹ 91,680 and pay an interest of only ₹ 1,92,519 which is less than half of what you paid in a 4 year loan. Hence, it is advisable to choose your loan tenure wisely as longer tenure means high interest expenses.

Factors affecting Bajaj Finserv Business Loan EMI

  • Loan amount - This is the amount borrower promises to repay to the bank with the interest applied. Bajaj Finserv gives minimum business loan of ₹ 5,00,000 up to an amount of ₹ 30,00,000.
  • 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 Bajaj Finserv is 18.00%. 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, Bajaj Finserv offers business loan for a maximum tenure of 48 months.

Bajaj Finserv Business Loan Amortization Calculator

Bajaj Finserv Business Loan amortization schedule gives a break up of your monthly EMI into interest and principal repayment. Bajaj Finserv gives you a detailed amortisation schedule with the sanction letter and you can calculate the total interest outgo as well as the pace at which your loan amount will be repaid during the loan tenure.

How to read an amortization schedule

Suppose if you take a Business Loan of ₹ 7 Lakh for 3 years from Bajaj Finserv at an interest rate of 18.00%. EMI calculated for this loan amount is ₹ 25,307 and the total annual EMIs to be paid annually is ₹ 3,03,680. The EMI schedule of loan for 3 years is explained below in the table –

Amortization Schedule for a Business Loan of ₹ 7 Lakh over the 3 years

Year Interest paid during the year Principal repaid during the year Total amount paid during the year (Interest + Principal) Outstanding Principal
2021 ₹ 59,601 ₹ 92,239 ₹ 1,51,840 ₹ 6,07,761
2022 ₹ 92,540 ₹ 2,11,141 ₹ 3,03,680 ₹ 3,96,620
2023 ₹ 51,237 ₹ 2,52,444 ₹ 3,03,680 ₹ 1,44,177
2024 ₹ 7,663 ₹ 1,44,177 ₹ 1,51,840 -₹ 0

In the above illustration, on a Bajaj Finserv Business Loan of₹ 7 Lakh, taken at the lowest interest rate of 18.00, EMI paid is ₹ 25,307 and an annual total of EMIs is ₹ 3,03,680, the interest component is ₹ 1,10,583 while the principal component is ₹ 1,93,097 in year 1 of loan disbursement. You repay only 27.59% of the total principal after paying 12 EMIs during the first year.

Bajaj Finance Business Loan Calculator Formula

P*r* (1+r)^n/([(1+r)^n]-1)
Here is an illustration of how Bajaj Finance business loan EMI is calculated:
In above formula,
P = Loan amount. This can range from ₹ 5,00,000 to ₹ 30,00,000
r = Rate of interest per month. Current rate is 18.00%
n = tenure in month. For Bajaj Finance, this can be 48 months

Tips to decide the right amount of Bajaj Finserv Business Loan EMI

  • Ascertain the amount you need to borrow: It is important that before approaching Bajaj Finserv 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 Bajaj Finserv, 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

What is the calculation of Bajaj Finserv Business Loan EMI?

Business Loan EMI (or equated monthly installment) is a fixed amount of money paid by you to Bajaj Finserv 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 Bajaj Finserv 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 Bajaj Finserv offering business loan with loan tenure up to 48 months, the loan EMI can be as low as ₹ 2,938 per lakh, to make it more affordable and convenient to meet your business needs. Rate of interest offered by Bajaj Finserv are as low as 18.00%. You can check EMI for other tenures using our Bajaj Finserv 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 Bajaj Finserv 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 Bajaj Finserv 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, Bajaj Finserv 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 Bajaj Finserv, 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?

Bajaj Finserv 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 Bajaj Finserv loan EMI before taking a loan?

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

Bajaj Finserv Business Loan Customer Care Toll Free Number
City Customer Care Number
Agra 020-39575152
Ahmedabad 020-39575152
Ambala 020-39575152
Anand 020-39575152
Aurangabad Bihar 020-39575152

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Bajaj Finance Business Loan News - Jul 2021
  • 2021-07-07 : Bajaj Finance books 46 lakh new loans in June quarter
    Bajaj Finance said on Tuesday it booked 46 lakh new loans (Personal loan, home loan, loan against property, top-up loan and business loan) during Q1 FY22 as compared to 18 lakh in the year-ago period. Customer franchise as of June 30 stood at 5 crores as compared to 4.3 crores last year. The company acquired 19 lakh new customers in Q1 FY22 as compared to 5 lakh in Q1 FY21.
  • 2021-04-30 : Bajaj Finserv reported a Q4 profit of ₹979 crore
    Bajaj Finserv posted a net profit of ₹ 979 crores in the January-March quarter, which marked an increase of 5 times from the profit of ₹ 194 crores during the same quarter last year. The NBFC reported the surge in profit backed by retail loans like home, personal, LAP, two-wheeler, car, education and doctor loan along with business and mudra loan.
  • 2021-01-25 : Bajaj Finserv Q3 results net profit rises 15% to Rs 1,290 crore
    Bajaj Finserv posted a 15% year-on-year rise in its net profit to Rs 1,290 crore in the quarter ended December, backed by home, personal, education, gold, car and two wheeler loans along with business and mudra loans Further, the bank’s revenues climbed 10% year-on-year to Rs 15,960.7 crore.
  • 2020-05-20 : Bajaj Finserv posted a net profit at ₹948.1 crore
    Bajaj Finserv posted a 19.38% decline in consolidated net profit at ₹948.1 crores in the fourth quarter of FY20 when compared to ₹1,176.06 crores a year ago. The bank’s net interest income grew 38% to ₹4,684 in the quarter ending March 31, 2020, crore from ₹3,385 crores a year ago. New loans backed by retail loans like home and personal loans along with business, mudra and two-wheeler loans increased by 3% during the quarter.
  • 2019-05-03 : NBFCs to seek loans from overseas banks in the form of External Commercial Borrowings
    Non-banking finance companies including Piramal Capital Housing, Bajaj Finance, Hero FinCorp, and IIFL Finance are now going beyond bonds to seek loans from overseas banks in the form of External Commercial Borrowing (ECB). Each NBFC is aiming to raise about $200-400 million in the next few weeks. IIFL Finance may raise up to $500 million, according to the sources.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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