Urban Money

CITI Bank Business Loan Calculator

  • 50 K
  • 1 Cr
Years
  • 1
  • 5
%
  • 8
  • 25

Monthly Loan EMI

Payment Breakdown:

Principal Amount

₹15,00,000

Interest Payable

Total Amount Payable

Customers of CitiBank who want to shorten their mortgage term without raising the monthly EMIs can make a full or partial payment. Customers will be made to pay a foreclosed service charge of up to 4% of the remaining loan balance through the Citibank business loan calculator. They will only be able to make a provisional lump sum payment after paying 12 EMIs. Users can pre-assess their loan results regarding the interest rate and receive the exact in real-time.

In this article, read about the business loan calculator Citibank and its related features, benefits, and method to use it.

Features and Benefits of using the Citibank Business Loan EMI Calculator?

Some features and benefits of using the Citibank business Loan EMI calculator are mentioned below:

  • Loan repayments varying between INR 10 lakhs to 1.5 crores are disbursed quickly.
  • Because of the availability of online mortgage applications, you can obtain a Citibank business loan within one week.
  • Documentation and eligibility criteria are minimal.
  • Loan repayment terms can be extended up to ten years.
  • Prepayment options enable you to pay off one's debt even before the loan closes.
  • A guarantor is not required.
  • After twelve months of repayment, pre-closure and component options are available.
  • The availability of a door-to-door service.
  • To meet debt responsibilities, top-up lending and consolidation loan option are available.
  • E-acceptance is also an option.
  • Interest rates are relatively low. 
  • A guarantor is not required.
  • Prepayment penalties are 4%

Citibank Business Loan EMI Calculator Formula and How its Works?

The Citibank business loan EMI calculator tells you how much interest you must pay monthly. The loan can be borrowed for personal matters such as weddings, car/house deposits, restoration, education, etc. You can select the appropriate loan amount based on your financial standing. It assists you in choosing the feature based on your EMI-paying capacity. A user must enter the appropriate loan balance, interest rate, and repayment period to calculate the maturity amount.

The mathematical formula for the Citi bank business loan calculator is:

EMI = P × r × (1 + r)n/((1 + r)n - 1),

Where,

  • P stands for the principal amount
  • r shows the applicable interest rate
  • n is the repayment months for tenure

For a better understanding, let’s look at the below-mentioned example,

Neha has taken a loan amount of ₹ 5 lakh for five years with a repayment timeframe along with an interest rate of 12.50%  than calculating EMI:

Loan Amount = ₹ 5,00,000

Monthly Installment (EMI) = ₹ 11,249

Total Amount of Interest = ₹ 1,74,938

Total Amount (Principal + Interest) = ₹ 6,74,938 

Eligibility Criteria for Citibank Business Loan

To be eligible for a Citibank Business Loan, you should adhere to the following requirements:

  • Applicants must be self-employed in producing, buying, selling, or services.
  • The latest business has been in operation for at least three years.
  • At the time of issuance application, the business loan candidate must be at least 21 years old. Furthermore, the individual's age after the loan term must not exceed 65 years old.

Things to Consider While Calculating CITI Business Loan?

The Citibank business loan calculator is a tool that helps the user determine the amount owed on the bank loan. Individuals who own a virtual machine like a laptop or mobile phone can conveniently get an approximate value on the EMIs after entering the necessary information. The calculator can help you with the following attributes:

Budget Friendly 

The Citibank business loan EMI calculator offers several options for comparing various values, allowing users to pick the best loan tenure that fits their financial conditions. This allows users to obtain clarification on the sum accumulated.

Convenient Application

The business loan calculator Citi bank is simple to operate. The interface makes it easy for users to determine the debt payment amount. The EMI calculator provides immediate answers regarding the loan repayment amount. This online tool assists users in keeping a precise and presentable budget with minimal paperwork.

Features of Graphical Aids

The Citibank business loan calculator also includes a graphical chart showing the modification in principal and interest rates over the loan. Through the graphic representation, users gain a deeper understanding of the reimbursement process. This is advantageous for investors looking to schedule long-term expenditures while also gaining a better grasp of the debt payment procedure.

Citibank Business Loan Amortisation Calculator 

The table below highlights the amortisation schedule using a Citibank business loan EMI calculator. The particulars of this table include the following:

Loan Amount = ₹ 15 000, 00 Lakhs

Loan term = 10 years

Rate of interest = 11.49

Beginning Balance (INR) Interest(INR) Principal(INR) Ending Balance (INR)
1,500,000.00 14,362.50 6,718.24 1,493,281.76
1,493,281.76 14,298.17 6,782.57 1,486,499.20
1,486,499.20 14,233.23 6,847.51 1,479,651.69
1,479,651.69 14,167.66 6,913.08 1,472,738.62
1,472,738.62 14,101.47 6,979.27 1,465,759.36
1,465,759.36 14,034.65 7,046.09 1,458,713.27
1,458,713.27 13,967.18 7,113.56 1,451,599.71
1,451,599.71 13,899.07 7,181.67 1,444,418.05
1,444,418.05 13,830.30 7,250.44 1,437,167.61
1,437,167.61 13,760.88 7,319.86 1,429,847.76
1,429,847.76 13,690.79 7,389.95 1,422,457.81
1,422,457.81 13,620.03 7,460.71 1,414,997.11

End of the Year 1

1,414,997.11 13,548.60 7,532.14 1,407,464.97
1,407,464.97 13,476.48 7,604.26 1,399,860.71
1,399,860.71 13,403.67 7,677.07 1,392,183.64
1,392,183.64 13,330.16 7,750.58 1,384,433.07
1,384,433.07 13,255.95 7,824.79 1,376,608.28
1,376,608.28 3,181.02 7,899.72 1,368,708.56
1,368,708.56 13,105.38 7,975.36 1,360,733.21
1,360,733.21 13,029.02 8,051.72 1,352,681.50
1,352,681.50 12,951.93 8,128.81 1,344,552.69
1,344,552.69 12,874.09 8,206.65 1,336,346.04
1,336,346.04 12,795.51 8,285.23 1,328,060.82
1,328,060.82 12,716.18 8,364.56 1,319,696.27

End of the Year 2

1,319,696.27 12,636.09 8,444.65 1,311,251.62
1,311,251.62 12,555.23 8,525.51 1,302,726.12
1,302,726.12 12,473.60 8,607.14 1,294,118.99
1,294,118.99 12,391.19 8,689.55 1,285,429.44
1,285,429.44 12,307.99 8,772.75 1,276,656.69
1,276,656.69 12,223.99 8,856.75 1,267,799.94
1,267,799.94 12,139.18 8,941.56 1,258,858.39
1,258,858.39 12,053.57 9,027.17 1,249,831.23
1,249,831.23 11,967.13 9,113.61 1,240,717.62
1,240,717.62 11,879.87 9,200.87 1,231,516.76
1,231,516.76 11,791.77 9,288.97 1,222,227.80
1,222,227.80 11,702.83 9,377.91 1,212,849.89

End of the Year 3

1,212,849.89 11,613.04 9,467.70 1,203,382.19
1,203,382.19 11,522.38 9,558.36 1,193,823.84
1,193,823.84 11,430.86 9,649.88 1,184,173.97
1,184,173.97 11,338.47 9,742.27 1,174,431.70
1,174,431.70 11,245.18 9,835.56 1,164,596.15
1,164,596.15 11,151.01 9,929.73 1,154,666.42
1,154,666.42 11,055.93 10,024.81 1,144,641.61
1,144,641.61 10,959.94 10,120.80 1,134,520.82
1,134,520.82 10,863.04 10,217.70 1,124,303.12
1,124,303.12 10,765.20 10,315.54 1,113,987.59
1,113,987.59 10,666.43 10,414.31 1,103,573.28
1,103,573.28 10,566.71 10,514.03 1,093,059.26

End of the Year 4

1,093,059.26 10,466.04 10,614.70 1,082,444.57
1,082,444.57 10,364.41 10,716.33 1,071,728.24
1,071,728.24 10,261.80 10,818.94 1,060,909.30
1,060,909.30 10,158.21 10,922.53 1,049,986.77
1,049,986.77 10,053.62 11,027.12 1,038,959.66
1,038,959.66 9,948.04 11,132.70 1,027,826.96
1,027,826.96 9,841.44 11,239.30 1,016,587.67
1,016,587.67 9,733.83 11,346.91 1,005,240.76
1,005,240.76 9,625.18 11,455.56 993,785.21
993,785.21 9,515.49 11,565.25 982,219.96
982,219.96 9,404.76 11,675.98 970,543.98
970,543.98 9,292.96 11,787.78 958,756.21

End of the Year 5

958,756.21 9,180.09 11,900.65 946,855.56
946,855.56 9,066.14 12,014.60 934,840.97
934,840.97 8,951.10 12,129.64 922,711.33
922,711.33 8,834.96 12,245.78 910,465.56
910,465.56 8,717.71 12,363.03 898,102.53
898,102.53 8,599.33 12,481.41 885,621.13
885,621.13 8,479.82 12,600.92 873,020.21
873,020.21 8,359.17 12,721.57 860,298.65
860,298.65 8,237.36 12,843.38 847,455.27
847,455.27 8,114.38 12,966.36 834,488.92
834,488.92 7,990.23 13,090.51 821,398.41
821,398.41 7,864.89 13,215.85 808,182.57

End of the Year 6

808,182.57 7,738.35 13,342.39 794,840.18
794,840.18 7,610.59 13,470.15 781,370.04
781,370.04 7,481.62 13,599.12 767,770.92
767,770.92 7,351.41 13,729.33 754,041.59
754,041.59 7,219.95 13,860.79 740,180.80
740,180.80 7,087.23 13,993.51 726,187.30
726,187.30 6,953.24 14,127.50 712,059.81
712,059.81 6,817.97 14,262.77 697,797.04
697,797.04 6,681.41 14,399.33 683,397.71
683,397.71 6,543.53 14,537.21 668,860.51
668,860.51 6,404.34 14,676.40 654,184.11
654,184.11 6,263.81 14,816.93 639,367.19

End of the Year 7

639,367.19 6,121.94 14,958.80 624,408.40
624,408.40 5,978.71 15,102.03 609,306.37
609,306.37 5,834.11 15,246.63 594,059.74
594,059.74 5,688.12 15,392.62 578,667.13
578,667.13 5,540.74 15,540.00 563,127.13
563,127.13 5,391.94 15,688.80 547,438.34
547,438.34 5,241.72 15,839.02 531,599.32
531,599.32 5,090.06 15,990.68 515,608.65
515,608.65 4,936.95 16,143.79 499,464.87
499,464.87 4,782.38 16,298.36 483,166.51
483,166.51 4,626.32 16,454.42 466,712.09
466,712.09 4,468.77 16,611.97 450,100.12

End of the Year 8

450,100.12 4,309.71 16,771.03 433,329.10
433,329.10 4,149.13 16,931.61 416,397.49
416,397.49 3,987.01 17,093.73 399,303.76
399,303.76 3,823.33 17,257.41 382,046.35
382,046.35 3,658.09 17,422.65 364,623.71
364,623.71 3,491.27 17,589.47 347,034.25
347,034.25 3,322.85 17,757.89 329,276.36
329,276.36 3,152.82 17,927.92 311,348.45
311,348.45 2,981.16 18,099.58 293,248.88
293,248.88 2,807.86 18,272.88 274,976.00
274,976.00 2,632.90 18,447.84 256,528.16
256,528.16 2,456.26 18,624.48 237,903.68

End of the Year 9

237,903.68 2,277.93 18,802.81 219,100.87
219,100.87 2,097.89 18,982.85 200,118.02
200,118.02 1,916.13 19,164.61 180,953.42
180,953.42 1,732.63 19,348.11 161,605.31
161,605.31 1,547.37 19,533.37 142,071.95
142,071.95 1,360.34 19,720.40 122,351.55
122,351.55 1,171.52 19,909.22 102,442.33
102,442.33 980.89 20,099.85 82,342.48
82,342.48 788.43 20,292.31 62,050.17
62,050.17 594.13 20,486.61 41,563.57
41,563.57 397.97 20,682.77 20,880.80
20,880.80 199.93 20,880.81 0.00

End of the Year 10th

Quick Way to Get Business Loan from Citibank? 

An applicant can apply for a Citibank business loan online through the official website of Urban Money.

Online through Urban Money

Step 1: Head over to the official website of Urban money.  

Step 2: Enter the credentials such as User ID and Password.

Step 3: Select the desired bank. In this case, Citibank. 

Step 3: Choose the option to get a business loan.

Step 4: Fill out the required information and submit it. 

Offline

An investor interested in applying for a Citibank business Loan must fill out an application form and submit it at the nearest Citibank branch along with the required documents.

Frequently Asked Questions (FAQs)

What is the interest rate on a business loan in Citibank?

The interest rate for a Citibank Business Loan is 11.49%.

Can I get a business loan of 10 lakhs from Citibank?

You can get a Citibank business loan of 10 lakhs. Your loan request will be approved within 49 hours so long as you fulfil all necessary eligibility criteria.

What is the EMI calculation formula for a business loan from Citibank?

The EMI calculation formula for the business loan of Citibank is: EMI = P × r × (1 + r)n/((1 + r)n – 1)

Will business loan EMI change in case of prepayment in Citibank?

Customers will be imposed a foreclosed fee of approximately 4% of the remaining loan amount. They will only be able to make a temporary prepayment after paying 12 EMIs.

Why should I calculate Citibank business loan EMI before taking a loan?

One must calculate the Citibank business loan EMI to understand what loan amount fits their financial obligations and whether one is eligible for such a loan.

What is the Citibank business loan processing fee?

Citibank Business Loan processing fee varies from 12% to 18% and up to 2% for the loan amount.