EMI Calculator
Calculator Information
The Equipment Finance Calculator calculates the type of repayment required, at the frequency requested, in respect of the loan parameters entered, namely amount, term and interest rate. The Product selected determines the default interest rate for personal loan product. The Equipment Finance Calculator also calculates the time saved to pay off the loan and the amount of interest saved based on an additional input from the customer. This is if repayments are increased by the entered amount of extra contribution per repayment period. This feature is only enabled for the products that support an extra repayment. The calculations are done at the repayment frequency entered, in respect of the original loan parameters entered, namely amount, annual interest rate and term in years.
Calculator Assumptions
Length of Month
All months are assumed to be of equal length. In reality, many loans accrue on a daily basis leading to a varying number of days interest dependent on the number of days in the particular month.
Number of Weeks or Fortnights in a Year
One year is assumed to contain exactly 52 weeks or 26 fortnights. This implicitly assumes that a year has 364 days rather than the actual 365 or 366.
Rounding of Amount of Each Repayment
In practice, repayments are rounded to at least the nearer cent. However the calculator uses the unrounded repayment to derive the amount of interest payable at points along the graph and in total over the full term of the loan. This assumption allows for a smooth graph and equal repayment amounts. Note that the final repayment after the increase in repayment amount.
Rounding of Time Saved
The time saved is presented as a number of years and months, fortnights or weeks, based on the repayment frequency selected. It assumes the potential partial last repayment when calculating the savings.
Amount of Interest Saved
This amount can only be approximated from the amount of time saved and based on the original loan details.
Calculator Disclaimer
The results from this calculator should be used as an indication only. Results do not represent either quotes or pre-qualifications for the product. Individual institutions apply different formulas. Information such as interest rates quoted and default figures used in the assumptions are subject to change.
Calculate your EMI here
**Note: For exceeding 120 no. of payments, a group of 12 payments will be combined into a single payment number for better chart visibility.
Period | Payment | Interest | Balance |
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Frequently Asked Questions
1. What does Fab Capital do?
Fab Capital is India’s largest loan distributor, bridging the gap between borrowers and financial institutions. We facilitate loan applications, process documentation, and connect customers with banks, NBFCs, and private lenders for seamless financing.
2. How does Fab Capital help in securing loans?
- We assess your financial profile and recommend the best loan options.
- We streamline documentation to fast-track approvals.
- We negotiate with financial institutions to secure the best terms.
- We ensure smooth disbursal of funds with minimal hassle.
3. Loan Process – From Onboarding to Disbursal
- Timeframe: 1-2 Days
- Process: Customer submits loan application along with basic documents.
- Required Documents: PAN Card, Aadhaar Card, Income Proof, Bank Statements.
- Timeframe: 2-4 Days
- Process: Fab Capital evaluates financial eligibility, creditworthiness, and loan feasibility.
- Documents Required: CIBIL Report, Property/Asset Details (for secured loans).
- Timeframe: 3-5 Days
- Process: We submit your application to multiple banks/NBFCs/private lenders.
- Outcome: Lenders evaluate and shortlist eligible applications.
- Timeframe: 5-10 Days (depending on loan type)
- Process:
- Financial institutions verify documents and credit profile.
- Physical verification of collateral (for secured loans).
- Documents Required: KYC, Income Tax Returns (ITR), GST Returns, and Business Financials.
- Timeframe: 7-15 Days (subject to lender’s process)
- Process:
- Loan approved based on financial and risk assessment.
- Sanction letter with loan amount, tenure, interest rate, and repayment terms issued.
- Timeframe: 3-7 Days
- Process:
- Borrower signs final loan agreement.
- Submission of legal documents (for property-backed loans).
- Additional compliance checks.
- Timeframe: 2-5 Days
- Process:
- Funds are transferred to the borrower’s account.
- Final disbursal documents are issued.
4. Loan Types, Timeframes & Required Documents
Loan Type | Timeframe (Approx.) | Documents Required |
Personal Loan | 5-10 Days | PAN, Aadhaar, Salary Slips, ITR, Bank Statements |
Home Loan | 10-15 Days | Property Papers, Income Proof, Bank Statements |
Top-up Home Loan | 5-7 Days | Existing Loan Documents, Updated Income Proof |
Vehicle Loan | 5-7 Days | RC Book, Income Proof, Bank Statements |
Business Loan | 10-20 Days | Business Registration, GST, ITR, Financial Statements |
Loan Against Property | 15-25 Days | Property Documents, Income Proof, Legal Clearances |
Gold Loan | 1-2 Days | KYC, Gold Valuation Report |
Education Loan | 7-15 Days | Admission Letter, Income Proof, Collateral (if required) |
Working Capital Loan | 15-30 Days | Business Financials, GST, Invoices, Projections |
High-Value Corporate Loans | 30-60 Days | Audited Financials, Business Reports, Security Papers |
5. What factors affect loan approval?
- Credit Score & History
- Income & Repayment Capacity
- Existing Debts & Liabilities
- Collateral Value (for secured loans)
- Business Financials & Stability
6. Can I apply for multiple loans simultaneously?
7. How can I track my loan application status?
8. Who do I contact for further assistance?
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Fab Capital is committed to adhering to all applicable laws and regulations concerning the services provided through this platform. Please note the following clarifications: (i) Fab Capital operates as a loan facilitation platform in collaboration with non-banking financial companies (NBFCs) that are registered with the Reserve Bank of India (RBI). Fab Capital is not, and does not claim to be, a non-banking financial company (NBFC) or a lender, nor is it registered with the RBI as such. Fab Capital is not a fundraising platform and does not engage in the issuance of securities. Rather, Fab Capital solely serves as a facilitator, enabling interaction between investors (including NBFCs) and target companies within a private, restricted environment. All trademarks are the property of their respective owners. We encourage you to review the terms of use before accessing or utilizing this platform and the services provided herein.
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