EMI: ₹11,249/month at 12.5%. Min income: ₹28,123/month.
A ₹5 Lakh business loan from IDFC First Bank at 12.5% interest for 5 years will cost you ₹11,249 per month as EMI. You will pay a total interest of ₹1,74,940 over the loan tenure. The minimum monthly income needed is ₹28,123 (assuming no existing EMIs).
IDFC First Bank Business Loan EMI for ₹5 Lakh at 12.5% for 5 years is ₹11,249 per month.
You need a minimum monthly income of ₹28,123 for a ₹5 Lakh business loan from IDFC First Bank (at 12.5% rate, assuming no existing EMIs).
The total interest payable on ₹5 Lakh business loan from IDFC First Bank at 12.5% for 5 years is ₹1,74,940.
IDFC First Bank charges a processing fee of 2% + GST for Business Loan.
IDFC First Bank Business Loan prepayment policy: 5% of outstanding.