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RBL Bank Business Loan EMI Calculator India Jan 2021

Business Loan EMI Calculator RBL Bank

Last Updated 07th Jan 2021

Get monthly EMI as low as ₹ 3,528 per lakh on RBL Bank business loan. Business loan EMI in RBL 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 loan3 Year loan
₹ 1 Lakh₹ 9,085₹ 4,908₹ 3,528
₹ 5 Lakh₹ 45,425₹ 24,541₹ 17,640
₹ 10 Lakh₹ 90,849₹ 49,083₹ 35,281
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 RBL Bank

  • Business loan EMI (or equated monthly installment) is a fixed amount of money paid by you to RBL 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.
  • RBL Bank offers business loans with loan tenure up to 36 months that translates into a lowest loan EMI of ₹ 3,528 per lakh, which makes it affordable for business loan borrowers. Lowest Rate of interest offered by RBL Bank on business loan is 16.25%.

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

Business loan EMI for ₹ 10 Lakh loan amount at lowest 16.25% interest rate offered by RBL Bank for different tenures

1 year 2 year 3 year
RBL Bank EMI for loan amount of ₹ 10 Lakh at 16.25% ₹ 90,849 ₹ 49,083 ₹ 35,281
Total amount you pay back to the bank including principal and interest ₹ 11,72,673 ₹ 13,75,163 ₹ 16,12,616
Interest you have to pay over loan tenure ₹ 1,72,673 ₹ 3,75,163 ₹ 6,12,616
  • 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 ₹ 35,281. However, you pay an interest of ₹ 6,12,616 on a ₹ 10 Lakh loan.
  • In contrast, if you take a ₹ 10 Lakh loan from RBL Bank at the lowest loan rate offered for a period of 1 year, you pay a higher loan EMI of ₹ 90,849 and pay an interest of only ₹ 1,72,673 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 RBL Bank Business Loan EMI

  • Loan amount - This is the amount borrower promises to repay to the bank with the interest applied. RBL Bank gives minimum business loan of ₹ 1,00,000 up to an amount of ₹ 10,00,000.
  • 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 RBL Bank is 16.25%. 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, RBL Bank 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.

RBL Bank Business Loan Calculator Formula

P*r* (1+r)^n/([(1+r)^n]-1)
Here is an illustration of how RBL Bank business loan EMI is calculated:
In above formula,
P = Loan amount. This can range from ₹ 1,00,000 to ₹ 10,00,000
r = Rate of interest per month. Current rate is 16.25%
n = tenure in month. For RBL Bank, this can be 36 months

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

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

Business Loan EMI (or equated monthly installment) is a fixed amount of money paid by you to RBL 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 RBL 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 RBL Bank offering business loan with loan tenure up to 36 months, the loan EMI can be as low as ₹ 3,528 per lakh, to make it more affordable and convenient to meet your business needs. Rate of interest offered by RBL Bank are as low as 16.25%. You can check EMI for other tenures using our RBL 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 RBL 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 RBL 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, RBL 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 RBL 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?

RBL 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 RBL 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

RBL Bank Business Loan Customer Care Number, Email, Application Status, Branches
City Customer Care Number
Agra 1800-123-8040
Ahmedabad 1800-123-8040
Ambala 1800-123-8040
Anand 1800-123-8040
Aurangabad Bihar 1800-123-8040
Bangalore 1800-123-8040
Bhilai 1800-123-8040
Bhilwara 1800-123-8040
Bhiwadi 1800-123-8040
Bhopal 1800-123-8040
Bhubaneswar Cuttack 1800-123-8040
Bikaner 1800-123-8040
Chandigarh 1800-123-8040
Chennai 1800-123-8040
Cochin 1800-123-8040
Coimbatore 1800-123-8040
Dehradun 1800-123-8040
Delhi 1800-123-8040
Durg 1800-123-8040
Faridabad 1800-123-8040
Gandhinagar 1800-123-8040
Ghaziabad 1800-123-8040
Goa 1800-123-8040
Greater Noida 1800-123-8040
Gurgaon 1800-123-8040
Guwahati 1800-123-8040
Gwalior 1800-123-8040
Hyderabad 1800-123-8040
Indore 1800-123-8040
Jabalpur 1800-123-8040
Jaipur 1800-123-8040
Jalandhar 1800-123-8040
Jodhpur 1800-123-8040
Kanpur 1800-123-8040
Karnal 1800-123-8040
Kolhapur 1800-123-8040
Kolkata 1800-123-8040
Kota 1800-123-8040
Kozhikode 1800-123-8040
Lucknow 1800-123-8040
Ludhiana 1800-123-8040
Madurai 1800-123-8040
Meerut 1800-123-8040
Mehsana 1800-123-8040
Mohali Sas Nagar 1800-123-8040
Mumbai 1800-123-8040
Mussoorie 1800-123-8040
Nagpur 1800-123-8040
Nashik 1800-123-8040
Noida 1800-123-8040
Noida Extn 1800-123-8040
Panipat 1800-123-8040
Patna 1800-123-8040
Pondicherry 1800-123-8040
Pune 1800-123-8040
Raipur 1800-123-8040
Rajkot 1800-123-8040
Ranchi 1800-123-8040
Rohtak 1800-123-8040
Roorkee 1800-123-8040
Salem 1800-123-8040
Shimla 1800-123-8040
Sonipat 1800-123-8040
Surat 1800-123-8040
Trichy 1800-123-8040
Udaipur 1800-123-8040
Vadodara 1800-123-8040
Varanasi 1800-123-8040
Vijaywada 1800-123-8040
Vizag 1800-123-8040

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RBL Bank Business Loan News - Jan 2021
  • 2020-10-30 : RBL Bank Q2 net profit surges to ₹144 cr
    RBL Bank reported almost a three times increase in profit in the quarter ended September backed by retail loans like home, personal, car, two-wheeler and gold loans along with business and mudra loans. Further, Net profit rose to Rs 144 crore in the quarter ended September 2020 up from Rs 54 crore a year earlier supported by 23% growth in retail advances year on year even as wholesale advances continued to shrink.
  • 2020-07-29 : RBL Bank posted a net profit of Rs. 141. 22 crores for June quarter.
    RBL Bank reported a net profit of ₹ 144 crores for Q1 FY 2021 against loss of Rs. 3,801 crores for Q1-FY 2020. NII aided by home, personal, gold, car and two-wheeler loans along with business and mudra loans stood at Rs. 1,773 crores. Further, Cost of Deposit which includes FD and RD improved by 64 bps to 4.65% and CASA increased to ₹ 1,04,315 crore as on June 30, 2020
  • 2019-07-11 : RBL Bank plans to raise 150  million dollars in debt funding from IFC to augment its growth in MSME segment
    RBL Bank is planning to raise 150 million dollars in debt funds from International Finance Corporation (IFC). Out of the total funds, about 100 million dollars would be used to support the lender to expand its micro, small and medium enterprises (MSME) and individual business loans portfolio in the cities where there is less or no access to financial credit.
  • 2019-04-23 : Wirecard expands partnership with RBL Bank to further drive financial inclusion
    Wirecard, the global innovation leader in digital financial technology has joined hands with RBL Bank to promote financial inclusion in India. The partnership will enable digital payments and banking transactions more readily accessible to all the Indian citizens including to those who live in remote areas. Consumers linked to Wirecard’s retail agents network can now easily make cash withdrawals, deposits and balance enquiries easily at their convenience. Besides this, the lender also has plans to achieve significant growth across its business loans this year.
  • 2019-01-11 : RBL Bank signs MoU with Nasscom to offer customised credit to MSMEs
    RBL Bank has signed a MoU with Nasscom to provide customised credit solutions to micro, small and medium enterprises (MSMEs). The collaboration between them will help to serve the requirements of the MSME sector in extending financial support and credit facility.
*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
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