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Commercial Property Loan  EMI Calculator
Commercial Property Loan EMI Calculator
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Commercial Property Loan EMI Calculator

Home loan for properties to live in, is more popular and widely provided by financiers. Commercial property loans facilitate the need for real estate to conduct business. They can be conveniently procured. People who want to get a loan for commercial property for an office space, many times do not know how to go about it. Commercial property loans are less popular and so the knowledge is limited.

What is Commercial Property loan

Let’s understand what a commercial property is before we talk about commercial property loan. Commercial properties can be broadly classified into two types. They are divided into office space and retail space. These two spaces can be further divided into two categories, namely, – ready to occupy and under construction. Most commercial property buyers are 'investors'. Some investors buy commercial property for establishing their own office and business. Such purchases make lenders more certain about providing the loan.

However, at times, lenders may feel a bit uncertain about funding a commercial property under construction. It depends from case to case. Either way, a commercial property loan has been an incredibly useful loan product. Loan on commercial property can be availed for the purchase of an under-construction office space, ready to occupy office space, under-construction retail outlet, and ready to occupy outlet.

Commercial Property Loan EMI calculator

Use our commercial property loan EMI calculator to get an estimate of your monthly EMIs.

 

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Disclaimer: Please note that this calculator is simply a self-planning tool, and is for demonstration purposes only. Your final EMI amount will depend on many factors, and will be disclosed in the schedule shared with you after loan approval. For more details, please contact us

What is Commercial Property Loan EMI?

Let’s first understand what an EMI is. An EMI (Equated Monthly Installment) is a fixed amount that is to be paid on a pre-decided date on a monthly basis by the borrower of a loan. It is a payment made to clear off an outstanding loan within the mutually agreed duration referred to as repayment tenure. An EMI amount includes interest and principal on the loan amount. Even though each EMI is equal, the components of the EMI, the interest and the principal amount vary every month.

commercial property loan EMIs are calculated based on the principal borrowed, rate of interest, and tenure of the loan. The higher the loan amount, the higher will be the EMI payable. One of the main factors that affect the EMI amount is the rate of interest. The higher the rate, the higher will be the EMI payable. Tenure of the loan also is an important factor. The longer the loan tenure chosen, the lower will be the EMI payable. However, during the initial days of your commercial property loan repayment, the interest amount is higher, and the principal amount is lower.

Gradually, the interest amount will decrease as the outstanding loan reduces. Our Commercial property loan EMI calculator is extremely useful for calculating EMIs. It’s an easy-to-use online tool that provides you with all the details you need.

How does the EMI calculator for commercial property loan work?

For the purpose of EMI calculation using the commercial property loan EMI calculator, you need to know the basic home details. They are commercial property loan interest rates charged, total loan amount, and tenure. The formula that is incorporated is as stated below:

E (EMI) = P * R * (1+R)^N / ((1+R)^N-1)

P is the principal loan amount borrowed, R is the commercial property loan rates, and N is the loan tenure in months. You need to enter these basic details on the EMI calculator and you will receive the EMI amount in just a few seconds.

Benefits of Commercial Property Loan Calculator

There are many benefits of a Commercial Property Loan EMI Calculator. It can help you make a perfect choice as per your repayment potential. Commercial Property Loan EMI calculator is a time efficient and precise method.

Let’s have a look at the benefits of a commercial property loan EMI calculator below:

1) Time saving and efficiency

It saves time because calculating EMIs manually would be a tedious task and can be prone to errors. Commercial Property Loan EMI Calculator gives you the details within seconds. The calculator will show the requisite details on your screen immediately.

2) High level of accuracy

A commercial property loan EMI Calculator is always accurate. Calculation of accurate EMIs can help you plan your finances based on your income and savings. You can depend on the calculator’s precision. Please do note however, that the calculator does not take into account other components that may be contributing to your monthly EMI, such as insurance.

3) Financial planning and goals achievement

The loan calculator can tremendously help you in financial planning. While assessing your business goals, you may want to try permutations of EMIs. The commercial property loan EMI Calculator lets you do exactly that. You can re-enter different details to get the desired results and complete clarity. You can evaluate different schedules by combining loan tenures and rates of interest.

You can get a commercial property loan for long term business expenses by taking a loan against property, or you can take a property loan to purchase a new commercial property for their business. You can contact your nearest Grihashakti branch or apply online and we will be happy to assist you.

Fullerton India Home Finance Company Ltd
CIN number: U65922TN2010PLC076972
IRDAI COR No: CA0492

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