EMI: ₹54,668/month at 11.25%. Min income: ₹1,30,162/month.
A ₹25 Lakh business loan from Bank of India at 11.25% interest for 5 years will cost you ₹54,668 per month as EMI. You will pay a total interest of ₹7,80,080 over the loan tenure. The minimum monthly income needed is ₹1,30,162 (assuming no existing EMIs).
Bank of India Business Loan EMI for ₹25 Lakh at 11.25% for 5 years is ₹54,668 per month.
You need a minimum monthly income of ₹1,30,162 for a ₹25 Lakh business loan from Bank of India (at 11.25% rate, assuming no existing EMIs).
The total interest payable on ₹25 Lakh business loan from Bank of India at 11.25% for 5 years is ₹7,80,080.
Bank of India charges a processing fee of 1% + GST for Business Loan.
Bank of India Business Loan prepayment policy: 2% of outstanding.