Do EMI Calculators Really Help When Applying for a Small Business Loan?

India is a developing nation and the main pillars on which the country stands is the business growth. There are many entrepreneurs in the country who are looking for an efficient way to boost their business. They make many changes in their business approach which help them in making their business more successful. To carry out these changes the main ingredient they need is adequate financing. Especially for small-scale businesses, it is pivotal that they have sufficient funding to carry out their business. The major problem is that only a handful of financial service provider accommodates the loans that they need.

 

Bajaj Finserv is one of the major financial service providers who has helped a lot of businesses to grow and prosper. The business loan interest rates are perfect for any businesses looking to expand or set up a new business. There are many myths revolving around EMI repayments that the service provider manually sets the rates based on the amount. EMI calculators are here to put these myths to rest.

 

 

  • Accurate results

 

The business loan EMI calculator follows an algorithm based on which the EMI payment is calculated. The EMI calculator considers three basic factors based on which it drafts the EMI payment which is the loan amount, tenor, and the interest rate, etc. These three factors help the calculator to set an EMI payment for a given loan. Therefore, there is no chance that the EMI calculator might make any mistakes.

 

  • Easy to Use

 

The interface of Bajaj Finserv business loan EMI calculator is standard and is easy to understand and use. There is a meter for the loan amount, tenor, rate of interest which sets the EMI rate automatically by using a simple formula. The values are not manual which furthermore makes it easy to understand. The users who are familiar with basic internet surfing can understand the process and use the calculator.

 

  • Faster Calculation

 

The agents of Bajaj Finserv also use this calculator which is just much faster than manual calculations. The results for the EMI calculator are also real-time which continuously updates according to the changing values. The result doesn’t need to be double checked as the algorithm makes sure that the values follow the formula. Hence it significantly reduces the manual effort of hours and gives the results in just a matter of minutes.

 

  • Accounts for all Planned Payments

 

The calculators give a detailed view of all the possible payments in the future. This allows you to rethink any decisions about availing the loan. The planned payments till the last tenor can be estimated easily before even starting the plan. Hence the account holder may have no regrets about availing the loan in the future. The detailed payment plan will be obtained before you even signup for the loan.

 

Here are some benefits of using a business loan EMI calculator before applying for a loan. The EMI calculator of Bajaj Finserv is simple to use and is helpful before availing a business loan. Hence if you are applying for a loan make sure that you use an EMI calculator that can help you get the best rates. You can choose from several pre-approved offers that are made available by the company.

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