Apply Now Contact Us
The interest rate on a Business loan is affected by a variety of factors. Knowing about these factors will help you get the most competitive interest rate on Business Loans.
1. Age: - Applicants must be at least 21 years old and below 65 years of age.
2. Credit Score: - Applicants have a credit score of 750 and above to reduce the interest rates on the amount.
3. Occupation: - Applicant must be a salaried individual, self-employed individual, or a business owner with the ownership documents.
4. Repayment History: - Having an excellent repayment history helps you to increase your business loan eligibility and help you to get a lower interest rate.
5. Stable Income: - Having a steady income makes it easier to pay back the loan. With a higher income, you have a greater chance of getting low-interest business loans.
Loan Amount is
10k
10L
No. of Month is
12M
84M
Rate of Interest (ROI) is
5
35
There are two methods for calculating Axis Bank Business loan’s EMI.
The simplest, quickest, and most straightforward approach to figuring out monthly installments is to utilize a business loan interest rate calculator. All you have to do here is enter the values for the three major components, and the outcome is created automatically in seconds.
Flat Interest Rate Calculation
EMI = (principal + total interest payable) / loan tenure (Months)
Total interest payable = P x R x N / 100
Floating Interest Rate Calculation
EMI = [P x R x (1 + R) ^ N] / [(1 + R) ^ (N - 1)]
‘P’ is the principal loan amount.
‘R’ is the interest rate.
‘N’ is the loan tenure in months.
Plan your loan repayment using the Axis Bank Business Loan. The EMI calculator provides a detailed amortization schedule for the loan. As a result, you'll be able to estimate how much principal and interest you'll have to pay each month. Planning your finances and structuring your repayment with ease will be easier if you know this before getting the loan sanctioned. In this way, you avoid financial stress and can earmark the funds you need to repay the loan.
There are a few ways to reduce the professional loan EMI amount.
Before trying any of these tactics, be sure to use a professional loan calculator and conduct a thorough cost-benefit analysis.
You are doing an awesome work as team. Faster service with immediate response is quite amazing. Will recommend to everyone in need, faster documents processing …….Keep up the good work
Amazing. Dedicated. Professional. I came through a reference from my Aunt. I was getting a personal loan for the first time. I was nervous. But they made me sail through the loan application process. Good work. Definitely recommend
Folks, they are very quick with their services. I actually didn't know there were so many conditions for getting a loan. My documents weren't proper as well. They really helped me pick up my profile. Also, they give you helpful suggestions regarding which banks should I opt for.
Excellent service from all team members. All are supportive. Its different from others NBFCs. Now and in future, My Mudra is my first choice for financial needs.
The service provided by My Mudra is great, everything is seamless and very convenient. Its one of the very best experiences, I’ve had with any loan provider.
I was in dire need of funds for a medical emergency. Due to my low CIBIL score, I didn’t much get support from other lenders. This is when I submitted a personal loan application on My Mudra. Fortunately, I got the amount, and that too at lower interest rates. Thanks to My Mudra. The entire application was very smooth.
I have had a wonderful experience with My Mudra. The process was exceptionally seamless when I applied for a loan. I also liked how their people interacted with me. It is the best solution to the month-end cash issue. Also, I can use it to pay off my credit card dues.
To realize my business plans, I decided to take My Mudra Business loan and my decision was perfectly alright. It assured me of fast money and the entire process was transparent. No surprise loan charges helped me plan my working capital and manage my business activities efficiently.
I was in need of INR 2 lakh. I visited the My Mudra website and found out that there is a personal loan offer for me. It was a great experience. I got an awesome deal on my loan application. The process involved only a few documents. The amount transferred to my account was faster than promised and the interest rate and other charges were also not too high
I wanted quick fund disbursal and one of my friends suggested me to apply for a personal loan from My Mudra. He had a great experience. I agree with him. The application and approval process were smooth. They offer fast money transfers to my bank. I was asked to choose the repayment period. I am happy with the services. Their agents are also polite and helpful.
We collaborate with the best and biggest in the banking & financial world to get you relevant products at great rates.
Apply Now
We employ best-in-class security practices and procedures to keep your information secure every time.
From taking regular backups to using stronger passwords, we strictly prohibit any kind of unauthorized access of your crucial data, corruption, or theft throughout its life cycle.
We identify all the different ways your privacy could be at risk and have prepared safeguards to help you protect yourself online with us. Your privacy is important to us.
We are ISO 27001:2013 and SOC2 Type 2 compliant which instills trust into the hearts of our customers. We are secured with SSL and a certified GSP (GST Suvidha Provider).
Our blogs are where you get the latest news along with insights from industry experts.
Check
Credit Score
