EMI: ₹2,18,673/month at 11.25%. Min income: ₹5,20,650/month.
A ₹1 Crore business loan from Bank of India at 11.25% interest for 5 years will cost you ₹2,18,673 per month as EMI. You will pay a total interest of ₹31,20,380 over the loan tenure. The minimum monthly income needed is ₹5,20,650 (assuming no existing EMIs).
Bank of India Business Loan EMI for ₹1 Crore at 11.25% for 5 years is ₹2,18,673 per month.
You need a minimum monthly income of ₹5,20,650 for a ₹1 Crore business loan from Bank of India (at 11.25% rate, assuming no existing EMIs).
The total interest payable on ₹1 Crore business loan from Bank of India at 11.25% for 5 years is ₹31,20,380.
Bank of India charges a processing fee of 1% + GST for Business Loan.
Bank of India Business Loan prepayment policy: 2% of outstanding.