EMI: ₹2,17,424/month at 11%. Min income: ₹5,17,677/month.
A ₹1 Crore business loan from Union Bank at 11% interest for 5 years will cost you ₹2,17,424 per month as EMI. You will pay a total interest of ₹30,45,440 over the loan tenure. The minimum monthly income needed is ₹5,17,677 (assuming no existing EMIs).
Union Bank Business Loan EMI for ₹1 Crore at 11% for 5 years is ₹2,17,424 per month.
You need a minimum monthly income of ₹5,17,677 for a ₹1 Crore business loan from Union Bank (at 11% rate, assuming no existing EMIs).
The total interest payable on ₹1 Crore business loan from Union Bank at 11% for 5 years is ₹30,45,440.
Union Bank charges a processing fee of 1% + GST for Business Loan.
Union Bank Business Loan prepayment policy: 2% of outstanding.