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EMI Calculators and Business Loans - Facts and Myths

  • Business Loans: A financial instrument to boost your business

  • Business Loans: Hassle free and authenticated process of approval

  • Role of EMI calculators

  • Myths busted: EMI calculators and business loans are the most trusted and efficient financial instruments

Business loans are a necessity for any kind of business for either business expansion or venturing into new business. While applying for business loans a business owner often consults with his peers or professionals for the advice and may be flooded with a lot of misinformation interpreted by various people at various institutions and schools of thoughts.

We have tried to bust some myths associated with business loans and EMI calculators to provide you the clarity and give some tips about managing your credentials in order to avail a best-suited loan product for you.

Myths Associated with EMI Calculator

EMI Calculator Cannot Provide You the Clarity of a Repayment Plan

EMI calculator is based on a formula which is in accordance with the financial product proposed by the lending institutions. This formula comprises of the principal loan amount, monthly rate of interest and duration of the business loan. This formula gives you an exact overview of your repayment plans.

Besides, lending institutions such as NBFC’s charge minimum fees and other processing charges which are generally deducted from the total loan amount. Such charges could be added after the calculation is made using EMI calculator.

Availing Business Loans Is an Exhausting Task

With a proper due diligence and compliance, one can avail business loans easily. If a business owner has all the prerequisites ready for the disbursal of the loan, he can avail the loan easily without any hassles and without much delay.

If the documents and eligibility criteria are fulfilled and if the lending institution is satisfied with it then a business owner can easily avail the business loan in a timely manner. Companies like Bajaj Finserv offer hassle-free business loan approval processes with online loan application facility and faster loan disbursal record.

Banks Are the Best Option to Avail a Business Loan

Unlike banks, NBFC’s process the loan applications quickly and offer the option to renewal and waiver on pre-closure charges. The credit requirements of modern small-scale businesses vary depending on business type and demography. NBFC’s can offer customised loans to these businesses depending upon their requirement.

The world of finance is transforming rapidly and the digital revolution is gaining momentum. Bajaj Finserv offers you hassle-free business loans at attractive interest rates and flexible repayment plans. Be a part of this revolution and grow your business with these financial instruments.
EMI Calculators and Business Loans - Facts and Myths EMI Calculators and Business Loans - Facts and Myths Reviewed by Lokesh kumar on 11:45 AM Rating: 5