Term Loan EMI Calculator

A term loan EMI calculator is an essential financial tool for businesses and individuals planning to take out a term loan. Term loans are fixed-period loans typically used for business expansion, equipment purchase, working capital, or other commercial purposes. This calculator helps you understand your monthly payment obligations and plan your finances accordingly.

Our term loan EMI calculator supports multiple Indian banks including SBI (State Bank of India), HDFC Bank, ICICI Bank, BOB (Bank of Baroda), PNB (Punjab National Bank), and Canara Bank. You can compare interest rates and EMI amounts across different banks to make an informed decision.

The calculator offers two interest calculation methods: reducing balance rate and flat rate. The reducing balance method calculates interest on the outstanding principal balance, resulting in lower total interest payments over the loan tenure. The flat rate method calculates interest on the original loan amount throughout the tenure, which typically results in higher interest costs.

One of the key features of this calculator is the moratorium period option. A moratorium period, also known as a grace period, is a time during which you don't need to make principal repayments. This is particularly useful for businesses that need time to establish operations before starting regular repayments. During the moratorium period, you can choose to either pay interest monthly or have it capitalized (added to the principal amount).

The calculator provides a detailed repayment schedule showing month-by-month breakdown of principal, interest, and remaining balance. This helps you understand how your loan balance decreases over time and how much interest you'll pay. You can export the repayment schedule to Excel for further analysis or record-keeping.

Whether you're planning a business loan for expansion, equipment financing, or working capital, this term loan EMI calculator helps you make informed financial decisions. Use it to compare different loan options, understand your payment obligations, and plan your cash flow effectively.