HDFC Bank Business Loan Calculator

HDFC Bank Business Loan Calculator – An Overview

The HDFC Bank Business Loan Calculator is a financial tool that assists firms in estimating monthly loan repayments and calculating interest payable on loan amounts. This calculator is a helpful tool for businesses considering a loan from HDFC Bank since it provides an easy and quick way to estimate the loan payback schedule depending on the loan amount, tenure, and interest rate. The HDFC Bank Business Loan Calculator is a web-based application that can be used via the bank’s official website or mobile app. It is a simple and convenient method of calculating the EMI, which can assist businesses in successfully planning their budgets and managing their cash flow. In addition, businesses can use the HDFC Bank Business Loan Calculator to make informed decisions about their lending needs and select the loan amount and term that best meets their needs.

Features of HDFC Bank Business Loan EMI Calculator

An HDFC Bank Business EMI Loans Calculator may have the following features:

• Flexible repayment terms: You can repay your loan over 12 to 48 months.
• Unlike other loans, there is no collateral requirement for an HDFC Bank Business loan, which means you can borrow as much money as you need without worrying about it.
• Transfer loan balances easily: Move your existing business loan to HDFC Bank at a cheap EMI at a 15.75% interest rate and 0.99% processing fee from any bank in India.
• Rapid approval procedure: HDFC Bank’s application process is quick and simple. You can apply online or in person at one of their branches.
• Dependable service: HDFC Bank is a dependable lender with a solid track record of loan repayment. This means you can rely on them to assist you in growing your firm.
• The bank is committed to providing excellent customer service and offers a 24/7 helpline for customers who require assistance with their loan applications.
• Collateral-free: HDFC Bank Business Loans do not require any collateral, security, or guarantor, giving you complete peace of mind.
• Business loan balance transfer: A business loan balance transfer allows you to consolidate your previous loans into a single, easy-to-repay business loan.
• Competitive interest rates: Low-interest rates begin at 11.90% per annum.
• Minimal processing fees: A processing fee of up to 2.50% of the loan amount is charged.
• Flexible loan amount: Borrow up to Rs. 40 lakhs (and up to Rs. 50 lakhs in specified places) with no collateral, guarantor, or security.

Benefits of Calculating HDFC Business Loan online

By utilizing the HDFC Bank Business Loan Calculator online, businesses may calculate their loan repayment schedule quickly, accurately, and transparently, allowing them to better plan their finances and manage their cash flow. Following are some of the primary advantages:

• Fast and simple: The online calculator allows businesses to quickly and easily calculate their loan amount, interest rate, and monthly EMI. When compared to manually calculating the loan payback plan, it can save businesses significant time and effort.
• Flexibility: The calculator allows businesses to alter the loan amount and duration to meet their specific needs. This enables businesses to make informed judgments about their credit needs and select the loan amount and tenure that best meets their requirements.
• Transparency: The online calculator makes the loan repayment schedule completely transparent, including the total interest payable and the EMI amount. This enables firms to accurately calculate the cost of borrowing and organize their budgets accordingly.
• Free of Cost: The HDFC Bank Business Loan Calculator is a free service made available to customers by the bank. Companies can use this product as many times as they want at no extra cost.
• Exact Results: The HDFC Bank Business Loan Calculator calculates the EMI using a standard formula based on the loan amount, term, and interest rate. This ensures that the results are precise and reliable, which is critical for organizations when making decisions.

HDFC Bank Business Loan EMI Calculator Formula and how its works?

The monthly EMI due by businesses is calculated using a mathematical formula by the HDFC Bank Business Loan EMI Calculator.

The formula is as follows:

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

Where,

• P denotes the loan amount
• R is the monthly interest rate
• N is the Loan Term (Months)

The formula works as follows:

To calculate the interest payable for each month, multiply the loan amount by the monthly interest rate.

The monthly interest rate is then computed by dividing the annual interest rate by 12 months (the number of months in a year).

The loan term is expressed in months.

The geometric series formula (1+ R)* N-1 is then used to calculate the present value of the monthly payments.

Lastly, the EMI is calculated by dividing the present value of the monthly payments by the sum of the present values of the interest.

Things to consider while calculating HDFC Business Loan

Businesses should examine various criteria when calculating an HDFC Bank Business Loan to guarantee that they can manage their loan repayments successfully. Here are some things that firms should think about:

• Loan Amount: Companies should carefully assess the loan amount that they require. They should only borrow what they need and can comfortably repay.
• Interest Rate: The interest rate is an important consideration for firms when determining their HDFC Bank Business Loan. To receive the greatest price, businesses should examine the interest rates given by various banks and financial organizations.
• Loan Tenure: The loan tenure is the amount of time it takes to repay the loan. Companies should choose a loan term that is appropriate for their cash flow and income. Longer terms have lower EMIs but higher interest costs, whereas shorter terms have higher EMIs but lower interest costs.
• Processing Fees: HDFC Bank charges processing costs on business loans, which can be substantial. When estimating the loan amount and total cost of borrowing, businesses should account for processing fees.
• Prepayment and Foreclosure Charges: If you repay your loan before the end of the term, HDFC Bank may charge you a prepayment and foreclosure charge. When considering whether to prepay or foreclose a debt, businesses should carefully examine these fees.
• Credit Score: A good credit score is required to obtain a company loan. Companies should verify that their credit score is sufficient to qualify for a loan and receive a cheaper interest rate.

Business Loan Amortization Calculator

The loan amortization table for a 15 lakh business loan with a two-year (24-month) term and a 16.75% annual interest rate is as follows:

Month	Opening Balance	EMI	Interest	Principal	Closing Balance
1	15,00,000.00	73,938.00	53,045.00	20,937.00	14,46,954.00
2	14,46,954.00	73,938.00	53,786.00	20,197.00	13,93,168.00
3	13,93,168.00	73,938.00	54,537.00	19,446.00	13,38,631.00
4	13,38,631.00	73,938.00	55,298.00	18,685.00	12,83,333.00
5	12,83,333.00	73,938.00	56,070.00	17,913.00	12,27,262.00
6	12,27,262.00	73,938.00	56,852.00	17,130.00	11,70,410.00
7	11,70,410.00	73,938.00	57,646.00	16,336.00	11,12,763.00
8	11,12,763.00	73,938.00	58,451.00	15,532.00	10,54,312.00
9	10,54,312.00	73,938.00	59,266.00	14,716.00	9,95,045.00
10	9,95,045.00	73,938.00	60,094.00	13,889.00	9,34,951.00
11	9,34,951.00	73,938.00	60,932.00	13,050.00	8,74,018.00
12	8,74,018.00	73,938.00	61,783.00	12,199.00	8,12,235.00
13	8,12,235.00	73,938.00	62,645.00	11,337.00	7,49,589.00
14	7,49,589.00	73,938.00	63,520.00	10,463.00	6,86,068.00
15	6,86,068.00	73,938.00	64,406.00	9,576.00	6,21,661.00
16	6,21,661.00	73,938.00	65,305.00	8,677.00	5,56,355.00
17	5,56,355.00	73,938.00	66,217.00	7,765.00	4,90,138.00
18	4,90,138.00	73,938.00	67,141.00	6,841.00	4,22,996.00
19	4,22,996.00	73,938.00	68,079.00	5,904.00	3,54,917.00
20	3,54,917.00	73,938.00	69,029.00	4,954.00	2,85,888.00
21	2,85,888.00	73,938.00	69,992.00	3,990.00	2,15,895.00
22	2,15,895.00	73,938.00	70,969.00	3,013.00	1,44,925.00
23	1,44,925.00	73,938.00	71,960.00	2,022.00	72,964.00
24	72,964.00	73,938.00	72,964.00	1,018.00	0.00