EMI: ₹10,996/month at 11.5%. Min income: ₹26,181/month.
A ₹5 Lakh business loan from Central Bank at 11.5% interest for 5 years will cost you ₹10,996 per month as EMI. You will pay a total interest of ₹1,59,760 over the loan tenure. The minimum monthly income needed is ₹26,181 (assuming no existing EMIs).
Central Bank Business Loan EMI for ₹5 Lakh at 11.5% for 5 years is ₹10,996 per month.
You need a minimum monthly income of ₹26,181 for a ₹5 Lakh business loan from Central Bank (at 11.5% rate, assuming no existing EMIs).
The total interest payable on ₹5 Lakh business loan from Central Bank at 11.5% for 5 years is ₹1,59,760.
Central Bank charges a processing fee of 1% + GST for Business Loan.
Central Bank Business Loan prepayment policy: 2% of outstanding.