# Indifi Business Loan EMI Calculator India Jan 2022

## Business Loan EMI Calculator Indifi

Last Updated 30th Jun 2021

Get monthly EMI as low as ₹ 3,467 per lakh on Indifi business loan. Business loan EMI in Indifi depends upon loan annual turnover, gross receipts, number of years of ITR, loan amount, loan tenure and interest rate.

Loan Amount1 Year Loan2 Year loan3 Year loan
₹ 1 Lakh₹ 9,026₹ 4,849₹ 3,467
₹ 5 Lakh₹ 45,129₹ 24,243₹ 17,333
₹ 10 Lakh₹ 90,258₹ 48,487₹ 34,665
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• Business loan EMI (or equated monthly installment) is a fixed amount of money paid by you to Indifi 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.
• Indifi offers business loans with loan tenure up to 36 months that translates into a lowest loan EMI of ₹ 3,467 per lakh, which makes it affordable for business loan borrowers. Lowest Rate of interest offered by Indifi on business loan is 15.00%.

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

Business loan EMI for ₹ 10 Lakh loan amount at lowest 15.00% interest rate offered by Indifi for different tenures

1 year 2 year 3 year
Indifi EMI for loan amount of ₹ 10 Lakh at 15.00% ₹ 90,258 ₹ 48,487 ₹ 34,665
Total amount you pay back to the bank including principal and interest ₹ 11,58,650 ₹ 13,42,471 ₹ 15,55,454
Interest you have to pay over loan tenure ₹ 1,58,650 ₹ 3,42,471 ₹ 5,55,454
• 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 3 years, you pay the lowest EMI of ₹ 34,665. However, you pay an interest of ₹ 5,55,454 on a ₹ 10 Lakh loan.
• In contrast, if you take a ₹ 10 Lakh loan from Indifi at the lowest loan rate offered for a period of 1 year, you pay a higher loan EMI of ₹ 90,258 and pay an interest of only ₹ 1,58,650 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 Indifi Business Loan EMI

• Loan amount - This is the amount borrower promises to repay to the bank with the interest applied. Indifi gives minimum business loan of ₹ 0 up to an amount of ₹ 5,00,000.
• 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 Indifi is 15.00%. 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, Indifi offers business loan for a maximum tenure of 48 months.

## Indifi Business Loan Amortization Calculator

Indifi Business Loan amortization schedule gives a break up of your monthly EMI into interest and principal repayment. Indifi 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 ₹ 8 Lakh for 4 years from Indifi at an interest rate of 15.00%. EMI calculated for this loan amount is ₹ 22,265 and the total annual EMIs to be paid annually is ₹ 2,67,175. The EMI schedule of loan for 4 years is explained below in the table –

### Amortization Schedule for a Business Loan of ₹ 8 Lakh over the 4 years

Year Interest paid during the year Principal repaid during the year Total amount paid during the year (Interest + Principal) Outstanding Principal
2022 ₹ 1,09,448 ₹ 1,57,727 ₹ 2,67,175 ₹ 6,42,273
2023 ₹ 84,093 ₹ 1,83,083 ₹ 2,67,175 ₹ 4,59,190
2024 ₹ 54,661 ₹ 2,12,514 ₹ 2,67,175 ₹ 2,46,676
2025 ₹ 20,499 ₹ 2,46,676 ₹ 2,67,175 -₹ 0

In the above illustration, on a Indifi Business Loan of₹ 8 Lakh, taken at the lowest interest rate of 15.00, EMI paid is ₹ 22,265 and an annual total of EMIs is ₹ 2,67,175, the interest component is ₹ 1,09,448 while the principal component is ₹ 1,57,727 in year 1 of loan disbursement. You repay only 19.72% of the total principal after paying 12 EMIs during the first year.

### Indifi Business Loan Calculator Formula

P*r* (1+r)^n/([(1+r)^n]-1)
Here is an illustration of how Indifi business loan EMI is calculated:
In above formula,
P = Loan amount. This can range from ₹ 0 to ₹ 5,00,000
r = Rate of interest per month. Current rate is 15.00%
n = tenure in month. For Indifi, this can be 48 months

#### Tips to decide the right amount of Indifi Business Loan EMI

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

#### ✅What is the calculation of Indifi Business Loan EMI?

Business Loan EMI (or equated monthly installment) is a fixed amount of money paid by you to Indifi 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 Indifi 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 Indifi offering business loan with loan tenure up to 36 months, the loan EMI can be as low as ₹ 3,467 per lakh, to make it more affordable and convenient to meet your business needs. Rate of interest offered by Indifi are as low as 15.00%. You can check EMI for other tenures using our Indifi 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 Indifi 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 Indifi 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, Indifi 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 Indifi, 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?

Indifi 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 Indifi 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

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