The term corporate finance represents the section of a business that deals with managing the financial activities of a business. However, this term is often interchanged and used to signify credit options available for companies.
Nonetheless, knowing these installments in advance can aid borrowers to find the right loan offer and plan their finances better.
How to find EMIs for corporate finance
Individuals can use business loan EMI calculator available online for this purpose. Using these calculators is easy; here is a guide –
- Visit the website of this calculator
- Enter loan particulars such as principal amount, tenor, and interest rate
- Get results instantly, and use different values to customise and find a suitable loan offer
Apart from this, one can also calculate EMIs manually by using its mathematical formula –
- EMI = P × r × (1 + r) n/ ((1 + r) n – 1)
Here P stands for the principal amount, n is for number of terms or loan tenor, and r is for interest rate.
Using an online calculator has other benefits as well, besides accurate and instant results. Here are the details –
- It helps borrowers to learn more about their business loan offer as it entails a loan amortisation schedule. This list offers a detailed breakup of EMIs.
- Also, it helps individuals to compare between various loan offers from different lenders to find a perfect solution.
- The customization facility helps debtors to get their loan tenor right as per their suitability.
The facility of online business loan apply and access to a free online EMI calculator offered by financiers like Bajaj Finserv makes it more convenient for borrowers.