Factors affecting Hero Fincorp business loan EMI :
Loan amount – This is the amount which a borrower decides to take from the bank in the form of a loan. Higher the Hero Fincorp business loan amount, higher will be the EMI.
Rate of interest – This is the interest charged on the borrowed loan amount. Lower theHero Fincorp business loan interest rate, lower the EMI.
Loan Tenure – This is the time period for which you take a loan. Longer the Business Loan tenure, lower will be the EMI. Longest loan tenure available across banks in India is 5 years, subject to borrower’s current age and retirement age.
Things to consider that affect the Hero Fincorp business loan:
- Income Level of business
- Stability of revenue, balance sheet
- Business type
- Credit History( loan repayment history of business)
- Relationship with Lender or banker
- Category of Your Business