Check minimum income required for a ₹20 Lakh business loan. EMI starts ₹42,741/month. Compare 28+ banks.
To get a ₹20 Lakh business loan, you need a minimum monthly income of approximately ₹1,06,853 (at the lowest rate of 10.25% for 5 years, assuming no existing EMIs).
| Bank | Rate | Monthly EMI | Min Income Required | Processing Fee |
|---|---|---|---|---|
| Tata Capital | 13.00 - 20.00% | ₹45,506 | ₹1,01,125/mo | 2% + GST |
| Bank of Baroda | 10.25 - 14.65% | ₹42,741 | ₹1,01,765/mo | 1% of loan amount + GST |
| Canara Bank | 10.85 - 14.85% | ₹43,335 | ₹1,03,179/mo | 1% + GST |
| Bajaj Finserv | 14.00 - 26.00% | ₹46,537 | ₹1,03,416/mo | Up to 3.50% |
| L&T Finance | 14.00 - 22.00% | ₹46,537 | ₹1,03,416/mo | 2% + GST |
| SBI | 11.00 - 14.75% | ₹43,485 | ₹1,03,536/mo | 1% of loan amount + GST |
| Union Bank | 11.00 - 14.00% | ₹43,485 | ₹1,03,536/mo | 1% + GST |
| Indian Bank | 11.15 - 13.65% | ₹43,635 | ₹1,03,893/mo | 1% + GST |
| Bank of India | 11.25 - 14.75% | ₹43,735 | ₹1,04,131/mo | 1% + GST |
| Mahindra Finance | 14.50 - 22.00% | ₹47,057 | ₹1,04,572/mo | 2% + GST |
| PNB | 11.50 - 14.50% | ₹43,985 | ₹1,04,727/mo | 1% + GST |
| IDBI Bank | 11.50 - 14.00% | ₹43,985 | ₹1,04,727/mo | 1% + GST |
| Central Bank | 11.50 - 14.50% | ₹43,985 | ₹1,04,727/mo | 1% + GST |
| Muthoot Finance | 15.00 - 24.00% | ₹47,580 | ₹1,05,734/mo | 2% + GST |
| Piramal Finance | 15.00 - 24.00% | ₹47,580 | ₹1,05,734/mo | 2% + GST |
| Hero FinCorp | 15.00 - 22.00% | ₹47,580 | ₹1,05,734/mo | 2% + GST |
| Manappuram Finance | 16.00 - 26.00% | ₹48,636 | ₹1,08,080/mo | 2.50% + GST |
| HDFC Bank | 11.50 - 18.00% | ₹43,985 | ₹1,09,963/mo | Up to 2% of loan amount |
| South Indian Bank | 11.50 - 15.00% | ₹43,985 | ₹1,09,963/mo | 1% + GST |
| Federal Bank | 12.00 - 16.50% | ₹44,489 | ₹1,11,223/mo | 1.50% + GST |
| Karur Vysya Bank | 12.00 - 16.00% | ₹44,489 | ₹1,11,223/mo | 1% + GST |
| IDFC First Bank | 12.50 - 22.00% | ₹44,996 | ₹1,12,490/mo | 2% + GST |
| ICICI Bank | 13.50 - 19.00% | ₹46,020 | ₹1,15,050/mo | Up to 2.50% |
| Yes Bank | 13.50 - 20.00% | ₹46,020 | ₹1,15,050/mo | 2% + GST |
| Kotak Mahindra Bank | 14.00 - 19.99% | ₹46,537 | ₹1,16,343/mo | 2.50% of loan amount |
| IndusInd Bank | 14.00 - 22.00% | ₹46,537 | ₹1,16,343/mo | 2% + GST |
| Axis Bank | 14.25 - 19.20% | ₹46,796 | ₹1,16,990/mo | 2% of loan amount |
| Bandhan Bank | 14.50 - 20.00% | ₹47,057 | ₹1,17,643/mo | 2% + GST |
The EMI for ₹20 Lakh business loan at 10.25% for 5 years is approximately ₹42,741 per month.
You need a minimum monthly income of approximately ₹1,06,853 for a ₹20 Lakh business loan at 10.25% interest rate (assuming no existing EMIs and 40% FOIR).
The lowest interest rate for ₹20 Lakh business loan starts from 10.25% p.a. in 2026. Compare all banks above.
With a ₹30,000 monthly salary and no existing EMIs, your maximum business loan eligibility at 10.25% for 5 years is approximately ₹5.62 L.
The total interest on ₹20 Lakh business loan at 10.25% for 5 years is approximately ₹5.64 L.