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How to calculate Loan / EMI?
Here is a formula of EMI calculation:
For example, if you want to plan a 5KW Solar System without Battery and It's price is Rs. 3,00,000. First select Bank and EMI Plan, such as Bank is HDFC Bank and EMI Plan is 60 months.
Monthly EMI = Total Cost + (Total Cost * Interest Rate / No. of Month)
= 3,00,000 + (3,00,000 * 15% / 60)
= (3,00,000 + 45,000) / 60
= 5,750 INR.
Here is Monthly EMI = Rs. 5,750 per month*. This is approximate number, it can be vary depending on banks and emi plan.
Why choose Loom Solar for a Rooftop Solar Loan?
EMI loan option is available across segments like homes, cars, consumer durables, phones etc. that are basis certain well-oiled process. When it comes to EMI/ loan for solar power plants the processes are yet to become more inclusive. EMI for rooftop solar needs constant hand-holding by an expert for the homeowner to manage the entire process. This festive season, we at Loom Solar, have chosen to step up and be available for this need of homeowners. Our team continues to work relentlessly to help our customers opting for loan / EMI options.”
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