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Dhan Laxmi Business Loan EMI Calculator India Jan 2021

Business Loan EMI Calculator Dhan Laxmi Bank

Last Updated 07th Jan 2021

Get monthly EMI as low as ₹ 2,270 per lakh on Dhan Laxmi Bank business loan. Business loan EMI in Dhan Laxmi Bank depends upon loan annual turnover, gross receipts, number of years of ITR, loan amount, loan tenure and interest rate.

Loan Amount1 Year Loan2 Year loan5 Year loan
₹ 1 Lakh₹ 8,927₹ 4,749₹ 2,270
₹ 5 Lakh₹ 44,635₹ 23,747₹ 11,351
₹ 10 Lakh₹ 89,270₹ 47,495₹ 22,702
Business Loan EMI Calculator
Lowest Interest Rate
Best Offers on Business Loan offerOffers
Bank/NBFCs Rate* EMI per Lakh* Action
HDFC Bank15.65%₹ 2,816Check Eligibility
Bajaj Finserv18.00%₹ 2,937Check Eligibility
ICICI Bank16.49%₹ 3,540Check Eligibility

* Starting From

Business Loan Calculator Dhan Laxmi Bank

  • Business loan EMI (or equated monthly installment) is a fixed amount of money paid by you to Dhan Laxmi 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.
  • Dhan Laxmi Bank offers business loans with loan tenure up to 60 months that translates into a lowest loan EMI of ₹ 2,270 per lakh, which makes it affordable for business loan borrowers. Lowest Rate of interest offered by Dhan Laxmi Bank on business loan is 12.90%.

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

Business loan EMI for ₹ 10 Lakh loan amount at lowest 12.90% interest rate offered by Dhan Laxmi Bank for different tenures

1 year 2 year 5 year
Dhan Laxmi Bank EMI for loan amount of ₹ 10 Lakh at 12.90% ₹ 89,270 ₹ 47,495 ₹ 22,702
Total amount you pay back to the bank including principal and interest ₹ 11,35,376 ₹ 12,89,078 ₹ 18,86,678
Interest you have to pay over loan tenure ₹ 1,35,376 ₹ 2,89,078 ₹ 8,86,678
  • 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 5 years, you pay the lowest EMI of ₹ 22,702. However, you pay an interest of ₹ 8,86,678 on a ₹ 10 Lakh loan.
  • In contrast, if you take a ₹ 10 Lakh loan from Dhan Laxmi Bank at the lowest loan rate offered for a period of 1 year, you pay a higher loan EMI of ₹ 89,270 and pay an interest of only ₹ 1,35,376 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 Dhan Laxmi Bank Business Loan EMI

  • Loan amount - This is the amount borrower promises to repay to the bank with the interest applied. Dhan Laxmi Bank gives minimum business loan of ₹ 10,00,000 up to an amount of ₹ 5,00,00,000.
  • 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 Dhan Laxmi Bank is 12.90%. 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, Dhan Laxmi Bank offers business loan for a maximum tenure of 60 months.

Business Loan Amortization Calculator

An amortization schedule is a table of periodic loan payments that shows the amount of principal and the amount of interest that comprise each payment until the loan is paid off at the end of its term.

In the Amortization schedule, your Business Loan monthly EMI will be equal, but the component of EMI, which consists of interest payment and principal payment will not remain the same every month, it keeps on changing.

Illustration: How to read an amortization schedule

Suppose if you take a Business Loan of ₹ 5 Lakh for 5 years at an interest rate of 13.50%. EMI calculated for this loan amount is ₹ 11,505 and the total annual EMIs to be paid annually is ₹ 1,38,059. The EMI schedule of loan for 5 years is explained below in the table –

Amortization Schedule for a Business Loan of ₹ 5 Lakh over the 5 years

Year Interest paid during the year Principal repaid during the year Total amount paid during the year (Interest + Principal) Outstanding Principal
2021 ₹ 62,966 ₹ 75,093 ₹ 1,38,059 ₹ 4,24,907
2022 ₹ 52,177 ₹ 85,882 ₹ 1,38,059 ₹ 3,39,025
2023 ₹ 39,838 ₹ 98,221 ₹ 1,38,059 ₹ 2,40,805
2024 ₹ 25,726 ₹ 1,12,333 ₹ 1,38,059 ₹ 1,28,472
2025 ₹ 9,587 ₹ 1,28,472 ₹ 1,38,059 -₹ 0

Each Business Loan EMI consists of both amounts of interest as well as the principal repaid. The interest component of EMI goes down while the principal component goes up in both cases while doing the calculation.

In the above illustration, on a Business Loan of ₹ 5 Lakh, taken at the lowest interest rate of 13.50%, EMI paid is ₹ 11,505 and an annual total of EMIs is ₹ 1,38,059, the interest component is ₹ 62,966 while the principal component is ₹ 75,093 in year 1 of loan disbursement. You repay only 15.02% of the total principal after paying 12 EMIs during the first year.

In year 5, the interest component of EMI is around 6.94%, while the principal component is around 93.06%. Upto 5 years, you have cumulatively repaid 100% of your total Business Loan.

Dhan Laxmi Business Loan Calculator Formula

P*r* (1+r)^n/([(1+r)^n]-1)
Here is an illustration of how Dhan Laxmi business loan EMI is calculated:
In above formula,
P = Loan amount. This can range from ₹ 10,00,000 to ₹ 5,00,00,000
r = Rate of interest per month. Current rate is 12.90%
n = tenure in month. For Dhan Laxmi, this can be 60 months

Tips to decide the right amount of Dhan Laxmi Bank Business Loan EMI

  • Ascertain the amount you need to borrow: It is important that before approaching Dhan Laxmi 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 Dhan Laxmi 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

What is the calculation of Dhan Laxmi Bank Business Loan EMI?

Business Loan EMI (or equated monthly installment) is a fixed amount of money paid by you to Dhan Laxmi 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 Dhan Laxmi 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 Dhan Laxmi Bank offering business loan with loan tenure up to 60 months, the loan EMI can be as low as ₹ 2,270 per lakh, to make it more affordable and convenient to meet your business needs. Rate of interest offered by Dhan Laxmi Bank are as low as 12.90%. You can check EMI for other tenures using our Dhan Laxmi 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 Dhan Laxmi 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 Dhan Laxmi 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, Dhan Laxmi 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 Dhan Laxmi 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?

Dhan Laxmi 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 Dhan Laxmi Bank 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

Dhan Laxmi Bank Business Loan Customer Care Number, Email, Application Status, Branches
City Customer Care Number
Agra 1800-425-1747
Ahmedabad 1800-425-1747
Ambala 1800-425-1747
Anand 1800-425-1747
Aurangabad Bihar 1800-425-1747
Bangalore 1800-425-1747
Bhilai 1800-425-1747
Bhilwara 1800-425-1747
Bhiwadi 1800-425-1747
Bhopal 1800-425-1747
Bhubaneswar Cuttack 1800-425-1747
Bikaner 1800-425-1747
Chandigarh 1800-425-1747
Chennai 1800-425-1747
Cochin 1800-425-1747
Coimbatore 1800-425-1747
Dehradun 1800-425-1747
Delhi 1800-425-1747
Durg 1800-425-1747
Faridabad 1800-425-1747
Gandhinagar 1800-425-1747
Ghaziabad 1800-425-1747
Goa 1800-425-1747
Greater Noida 1800-425-1747
Gurgaon 1800-425-1747
Guwahati 1800-425-1747
Gwalior 1800-425-1747
Hyderabad 1800-425-1747
Indore 1800-425-1747
Jabalpur 1800-425-1747
Jaipur 1800-425-1747
Jalandhar 1800-425-1747
Jodhpur 1800-425-1747
Kanpur 1800-425-1747
Karnal 1800-425-1747
Kolhapur 1800-425-1747
Kolkata 1800-425-1747
Kota 1800-425-1747
Kozhikode 1800-425-1747
Lucknow 1800-425-1747
Ludhiana 1800-425-1747
Madurai 1800-425-1747
Meerut 1800-425-1747
Mehsana 1800-425-1747
Mohali Sas Nagar 1800-425-1747
Mumbai 1800-425-1747
Mussoorie 1800-425-1747
Nagpur 1800-425-1747
Nashik 1800-425-1747
Noida 1800-425-1747
Noida Extn 1800-425-1747
Panipat 1800-425-1747
Patna 1800-425-1747
Pondicherry 1800-425-1747
Pune 1800-425-1747
Raipur 1800-425-1747
Rajkot 1800-425-1747
Ranchi 1800-425-1747
Rohtak 1800-425-1747
Roorkee 1800-425-1747
Salem 1800-425-1747
Shimla 1800-425-1747
Sonipat 1800-425-1747
Surat 1800-425-1747
Trichy 1800-425-1747
Udaipur 1800-425-1747
Vadodara 1800-425-1747
Varanasi 1800-425-1747
Vijaywada 1800-425-1747
Vizag 1800-425-1747

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Dhan Laxmi Business Loan News - Jan 2021
  • 2020-08-03 : Dhanlaxmi Bank Ltd Q1FY21 net profit at Rs. 6.09 crore
    Dhan Laxmi posted a net profit of Rs.6.09 crores for the period ended June 30, 2020, as against a net profit of Rs.2.60 crores for the period ended March 31, 2020. In addition to this, The bank reported a total income bolstered by retail loans home, personal, car, two-wheeler and gold loans along with business and mudra loans of Rs.278.62 crores during the period ended June 30, 2020. Bank provisioning for bad loans and contingencies spiked to Rs 37.02 crore during the reported quarter of FY21 as against Rs 9.27 crore a year ago.
  • 2019-05-09 : Dhanlaxmi Bank reports a profit of Rs. 27.6 crores in Q4 of FY19
    Private sector lender, Dhanlaxmi Bank has reported strong growth of Rs. 27.6 crores in its net profit for the Q4 of FY19. The profit is boosted by strong growth across its retail loans segment including home loans and mortgage loans and SME loans.
  • 2019-01-30 : Dhanlaxmi Bank to focus more on gold loans, business loans and MSMEs this year
    One of the private sector lenders, Dhanlaxmi Bank intends to improve business by concentrating on its retail growth both in assets and liabilities. The main focus of the lender will be on gold loans, retail loans, business loans and MSMEs. Additionally, the bank has witnessed strong growth in its the micro-finance sector and have come out with specific products to facilitate women customers in the coming years.
  • 2017-08-25 : DHFL Pramerica Life Insurance ties up with Dhanlaxmi Bank
    DHFL Pramerica Life Insurance Company Limited (DPLI) has announced its tie up with Dhanlaxmi Bank for distribution of its portfolio of retail and group life insurance products. Under the arrangement, the bank will act as a corporate agent of the insurance company and will assist in making life insurance products more accessible to its customers. Going forward, the bank has further plans to achieve strong growth in its business loan segment in FY18.
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