EMI: ₹2,24,979/month at 12.5%. Min income: ₹5,62,448/month.
A ₹1 Crore business loan from IDFC First Bank at 12.5% interest for 5 years will cost you ₹2,24,979 per month as EMI. You will pay a total interest of ₹34,98,740 over the loan tenure. The minimum monthly income needed is ₹5,62,448 (assuming no existing EMIs).
IDFC First Bank Business Loan EMI for ₹1 Crore at 12.5% for 5 years is ₹2,24,979 per month.
You need a minimum monthly income of ₹5,62,448 for a ₹1 Crore business loan from IDFC First Bank (at 12.5% rate, assuming no existing EMIs).
The total interest payable on ₹1 Crore business loan from IDFC First Bank at 12.5% for 5 years is ₹34,98,740.
IDFC First Bank charges a processing fee of 2% + GST for Business Loan.
IDFC First Bank Business Loan prepayment policy: 5% of outstanding.