EMI: ₹1,12,490/month at 12.5%. Min income: ₹2,81,225/month.
A ₹50 Lakh business loan from IDFC First Bank at 12.5% interest for 5 years will cost you ₹1,12,490 per month as EMI. You will pay a total interest of ₹17,49,400 over the loan tenure. The minimum monthly income needed is ₹2,81,225 (assuming no existing EMIs).
IDFC First Bank Business Loan EMI for ₹50 Lakh at 12.5% for 5 years is ₹1,12,490 per month.
You need a minimum monthly income of ₹2,81,225 for a ₹50 Lakh business loan from IDFC First Bank (at 12.5% rate, assuming no existing EMIs).
The total interest payable on ₹50 Lakh business loan from IDFC First Bank at 12.5% for 5 years is ₹17,49,400.
IDFC First Bank charges a processing fee of 2% + GST for Business Loan.
IDFC First Bank Business Loan prepayment policy: 5% of outstanding.