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Lendingkart Business Loan EMI Calculator India Jan 2021

Business Loan EMI Calculator Lendingkart

Last Updated 07th Jan 2021

Get monthly EMI as low as ₹ 3,615 per lakh on Lendingkart business loan. Business loan EMI in Lendingkart 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₹ 9,168₹ 4,992₹ 3,615
₹ 5 Lakh₹ 45,840₹ 24,962₹ 18,076
₹ 10 Lakh₹ 91,680₹ 49,924₹ 36,152
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 Lendingkart

  • Business loan EMI (or equated monthly installment) is a fixed amount of money paid by you to Lendingkart 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.
  • Lendingkart offers business loans with loan tenure up to 36 months that translates into a lowest loan EMI of ₹ 3,615 per lakh, which makes it affordable for business loan borrowers. Lowest Rate of interest offered by Lendingkart 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 Lendingkart for different tenures

1 year 2 year 3 year
Lendingkart EMI for loan amount of ₹ 10 Lakh at 18.00% ₹ 91,680 ₹ 49,924 ₹ 36,152
Total amount you pay back to the bank including principal and interest ₹ 11,92,519 ₹ 14,22,101 ₹ 16,95,881
Interest you have to pay over loan tenure ₹ 1,92,519 ₹ 4,22,101 ₹ 6,95,881

Factors affecting Lendingkart Business Loan EMI

  • Loan amount - This is the amount borrower promises to repay to the bank with the interest applied. Lendingkart gives minimum business loan of ₹ 50,000 up to an amount of ₹ 1,00,00,000.
  • 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 Lendingkart 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, Lendingkart offers business loan for a maximum tenure of 36 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.

Lendingkart Business Loan Calculator Formula

P*r* (1+r)^n/([(1+r)^n]-1)
Here is an illustration of how Lendingkart business loan EMI is calculated:
In above formula,
P = Loan amount. This can range from ₹ 50,000 to ₹ 1,00,00,000
r = Rate of interest per month. Current rate is 18.00%
n = tenure in month. For Lendingkart, this can be 36 months

Tips to decide the right amount of Lendingkart Business Loan EMI

  • Ascertain the amount you need to borrow: It is important that before approaching Lendingkart 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 Lendingkart, 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 Lendingkart Business Loan EMI?

Business Loan EMI (or equated monthly installment) is a fixed amount of money paid by you to Lendingkart 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 Lendingkart 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 Lendingkart offering business loan with loan tenure up to 36 months, the loan EMI can be as low as ₹ 3,615 per lakh, to make it more affordable and convenient to meet your business needs. Rate of interest offered by Lendingkart are as low as 18.00%. You can check EMI for other tenures using our Lendingkart 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 Lendingkart 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 Lendingkart 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, Lendingkart 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 Lendingkart, 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?

Lendingkart 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 Lendingkart 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.

Lendingkart Business Loan Reviews 4.7/5  by 12 customers
MyLoanCare Service
4.8/5.0
Banks Service
4.7/5.0
Shrikanth , Hyderabad
Reviewed on 30th Jul 2018
5 / 5 stars
Lendingkart Business Loan Availed in Jul 2018

Good and fast process. Thanks for MyLoanCare. Helping me out to get business loanRead more...

Rahul Mishra,
Reviewed on 13th Jun 2018
5 / 5 stars
Lendingkart Business Loan Availed in Apr 2018

very good services received from my loan care, AND ALSO LENDINGKART SERVICE WAS VERY GOOD Read more...

Anand Venkatesulu, Bangalore
Reviewed on 26th Sep 2017
4 / 5 stars
Lendingkart Business Loan Availed in Sep-17

It was good Service Provided by My Loan Care but Interest Rate is Too High...please consider next tiRead more...

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Lendingkart Business Loan News - Jan 2021
  • 2019-06-21 : Flipkart ties up with banks, NBFCs to offer quick loans to sellers
    In a bid to offer working capital loans to sellers, Flipkart has tied up with few banks and NBFCs. Loans of up to Rs. 3 crore will be provided to sellers and partners within two days at a rate of 9.5%. For this purpose, the company has roped in a few banks and NBFCs including SBI, Bank of Baroda, Axis Bank, Tata Capital, and LendingKart, among others.
  • 2019-05-31 : Vakrangee joins hand with LendingKart to offer digitalized business loans
    A technology company, Vakrangee has entered into a partnership with LendingKart Finance, for offering distribution of business loans through its Nextgen Vakrangee Kendras. Through this partnership, Vakrangee will provide quick disbursement of collateral-free business loans with minimal documentation and attractive interest rates to the customers belonging to the remote parts of the country.
  • 2018-02-16 : SME Lending Startup Lendingkart Raises $87 Mn In Equity Funding
    Lendingkart raised over $87 Mn in an equity funding round after raising $4.7 Mn funding round in January 2018. The round is being led by Fullerton Financial Holdings along with the existing investors participation.
  • 2018-01-13 : Lendingkart Raises $4.7 Mn Debt Funding From Dutch Bank
    Lendingkart, the SME startup has raised Rs. 30 Cr in its first foreign debt funding from a Dutch development bank. These funds will be used for growing the loan book and expanding the reach across SME industries pan India.
  • 2017-08-04 : Lendingkart Finance raises Rs. 67 crore from Kotak Mahindra Bank and Aditya Birla Financial Services
    One of the leading SME Loans provider, Lendingkart Finance has raised Rs. 67 crore in debt from Kotak Mahindra Bank, Aditya Birla Financial Services and some other financial institutions. The raised fund will be used by the NBFC to rebalance its SME loan book and to expand its branch network to over 700 cities.
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