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RBL Bank Business Loan EMI Calculator India Jul 2021

Business Loan EMI Calculator RBL Bank

Last Updated 19th Jul 2021

Get monthly EMI as low as ₹ 3,640 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₹ 9,192₹ 5,017₹ 3,640
₹ 5 Lakh₹ 45,959₹ 25,083₹ 18,202
₹ 10 Lakh₹ 91,918₹ 50,166₹ 36,404
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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 ₹ 3,640 per lakh, which makes it affordable for business loan borrowers. Lowest Rate of interest offered by RBL Bank on business loan is 18.50%.

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

Business loan EMI for ₹ 10 Lakh loan amount at lowest 18.50% 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 18.50% ₹ 91,918 ₹ 50,166 ₹ 36,404
Total amount you pay back to the bank including principal and interest ₹ 11,98,235 ₹ 14,35,766 ₹ 17,20,385
Interest you have to pay over loan tenure ₹ 1,98,235 ₹ 4,35,766 ₹ 7,20,385
  • 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 ₹ 36,404. However, you pay an interest of ₹ 7,20,385 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 ₹ 91,918 and pay an interest of only ₹ 1,98,235 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 18.50%. 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 48 months.

RBL Bank Business Loan Amortization Calculator

RBL Bank Business Loan amortization schedule gives a break up of your monthly EMI into interest and principal repayment. RBL Bank 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 RBL Bank at an interest rate of 18.50%. EMI calculated for this loan amount is ₹ 25,483 and the total annual EMIs to be paid annually is ₹ 3,05,791. 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 ₹ 61,282 ₹ 91,614 ₹ 1,52,896 ₹ 6,08,386
2022 ₹ 95,294 ₹ 2,10,497 ₹ 3,05,791 ₹ 3,97,890
2023 ₹ 52,875 ₹ 2,52,916 ₹ 3,05,791 ₹ 1,44,973
2024 ₹ 7,922 ₹ 1,44,973 ₹ 1,52,896 -₹ 0

In the above illustration, on a RBL Bank Business Loan of₹ 7 Lakh, taken at the lowest interest rate of 18.50, EMI paid is ₹ 25,483 and an annual total of EMIs is ₹ 3,05,791, the interest component is ₹ 1,13,756 while the principal component is ₹ 1,92,035 in year 1 of loan disbursement. You repay only 27.43% of the total principal after paying 12 EMIs during the first year.

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 18.50%
n = tenure in month. For RBL Bank, this can be 48 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 ₹ 3,640 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 18.50%. 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 Toll Free Number
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

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RBL Bank Business Loan News - Jul 2021
  • 2021-03-09 : RBL Bank planning branch expansion
    RBL Bank plans aggressive branch expansion over the next few years and target to open at least 75 new branches annually. The expansion will help the bank to increase its loan and deposits portfolio.
  • 2021-01-28 : RBL Bank posted a Q3 net profit of ₹147 crore
    RBL Bank reported a 110% rise in its net profit year-on-year at ₹147 crore in the quarter ended December 31, 2020. In the corresponding quarter, the bank posted a net profit of ₹6,995 crore. The bank’s total revenue backed by home, personal, car, two-wheeler and gold loans along with business and mudra loans grew by 6% year-on-year to ₹1,488 crore .
  • 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.
*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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