RBL Bank Business Loan Calculator

RBL Bank Business Loan Calculator - Overview

RBL Bank Business Loan Calculator is a financial tool that assists business owners in calculating the projected EMI (Equated Monthly Payment) on an RBL Bank business loan. The calculator considers the loan amount, interest rate, and loan term to determine the monthly instalment that the borrower will need to pay toward loan repayment. The RBL Bank Business Loan Calculator is an easy-to-use tool that streamlines loan computation and gives rapid and accurate results. Business owners can use the calculator to estimate the EMI amount they will need to pay towards loan repayment and arrange their finances accordingly.

Features of RBL Bank Business EMI Loans Calculator

The RBL Bank, Business EMI Loans Calculator, has the following features:

• User-friendliness: The RBL Bank Business EMI Loans Calculator is simple to use. Enter the loan amount, interest rate, and tenure, and the calculator will calculate the expected EMI.
• Accurate results: Based on the loan amount, interest rate, and tenure entered by the user, the calculator produces accurate results.
• Fast calculation: The RBL Bank Business EMI Loans Calculator returns results quickly, making it easier for business owners to budget their finances.
• Customised options: Users can select the loan amount, period, and interest rate to compute the EMI amount that best meets their financial needs.
• Loan repayment plan: The loan repayment schedule provided by the calculator shows the monthly payment, interest amount, and outstanding loan total for each month of the loan tenure.
• Available on the internet: The RBL Bank Business EMI Loans Calculator is available online, allowing business owners to use it from any location and at any time.
• Free: The calculator is provided for free and can be used by anybody, including RBL Bank customers.

Benefits of Calculating RBL Business Loan online

Using the RBL Bank Business EMI Loans Calculator to calculate an RBL Business Loan online can provide the following advantages:

• It saves time: Calculating RBL Business Loan online is simple and time-saving as compared to visiting a bank location to inquire about the loan.
• Accurate results: Based on the loan amount, interest rate, and tenure given by the user, the RBL Bank Business EMI Loans Calculator produces accurate results.
• A simple analogy: Borrowers can compare the EMI and total interest payable for various loan amounts, tenures, and interest rates by calculating RBL Business Loan online.
• Customised options: Users can select the loan amount, period, and interest rate to compute the EMI amount that best meets their financial needs.
• Aids in planning: By utilising the calculator, business owners may estimate the EMI amount they will need to pay towards loan repayment and manage their finances accordingly.
• The RBL Bank Business EMI Loans Calculator is available online 24 hours a day, seven days a week, allowing business owners to calculate the loan EMI at any time and from any location. 
• Free: The calculator is provided for free and can be used by anybody, including RBL Bank customers.

RBL Bank Business Loan EMI Calculator Formula and How it Works

The RBL Bank Business Loan EMI Calculator employs the following formula:

EMI = [P x R x (1+R)N] /[(1+R)^N-1]

Where,

• P denotes the principal amount.
• R is the monthly interest rate.
• N = Loan duration in months

The following is how the RBL Bank Business Loan EMI Calculation works:

Step 1: Provide the loan amount: Enter the loan amount you want to borrow from RBL Bank.

Step 2: Input the interest rate: Enter the interest rate offered by the bank on the loan.

Step 3: Input the loan term: Enter the loan term in months.

Step 4: Choose the "Calculate" option: After inputting the aforementioned information, click the "Calculate" button to obtain the EMI amount.

The EMI is calculated using the aforementioned formula by the calculator. 

The calculator uses the above formula to compute the EMI amount, which is the fixed amount that the borrower must pay each month toward loan repayment. The EMI covers both the loan's principal and the interest levied by the bank. Therefore, the loan repayment plan provided by the calculator shows the monthly payment, interest amount, and outstanding loan total for each month of the loan tenure. This enables debtors to plan their budgets better and manage their cash flow.

Things to Consider While Calculating RBL Business Loan?

Here are some things to keep in mind when calculating RBL Business Loans with the RBL Bank Business EMI Loans Calculator:

• Loan amount: Decide how much money you need for your firm. It's vital to remember that taking out a loan that exceeds your actual needs may result in higher EMI payments and interest rates.
• See the interest rate on business loans given by RBL Bank. The interest rate may vary depending on several criteria, including loan size, term, creditworthiness, and business turnover.
• Loan term: Choose the loan term that best fits your repayment capacity. Longer loan terms may result in cheaper EMI payments, but they also imply paying more interest throughout the life of the loan.
• Prepayment penalties: Determine whether there are any penalties for repaying the loan early than the scheduled term. This is significant since it may influence your decision to prepay the loan if you have extra money.
• Processing costs and other charges: Look into the processing fees and other charges related to the loan. These fees may include paperwork fees, late payment fees, and any additional fees imposed by the bank.
• Eligibility requirements: Review the RBL Bank's qualifying criteria for business loans. The bank may have certain criteria regarding business turnover, credit score, and other elements that may influence your loan application.

Business Loan Amortisation Calculator

The Business Loan Amortisation Calculator is a tool that assists borrowers in calculating the EMI and interest payable on a business loan. It operates on the amortization concept, in which the borrower repays the loan amount plus interest in equal monthly payments over a certain period. Business Loan Amortisation Calculator for a 15 lac RBL Business Loan with a 5-year (60-month) term and an annual interest rate of 12.50%:

Year	Opening Balance	EMI	Interest	Principal	Closing Balance
1	15,00,000	36,564	1,77,667	1,58,898	13,41,102
2	13,41,102	36,564	1,51,062	1,85,504	11,55,598
3	11,55,598	36,564	1,22,422	2,14,144	9,41,454
4	9,41,454	36,564	91,235	2,45,331	6,96,123
5	6,96,123	36,564	57,777	2,78,789	4,17,334

A Quick Way to Get a Business loan from RBL Bank

If you need a business loan from RBL Bank quickly, consider applying through online lending marketplaces like Urban Money. You can take the following steps:

• Visit the Urban Money website or get the Urban Money mobile app.
• On the home page, select the 'Business Loan' option.
• Fill up the required information, such as loan amount, loan tenure, and loan purpose.
• Submit the required papers, including your PAN card, Aadhaar card, business registration certificate, and bank statements.
• Apply and wait for a decision from the lender.