EMI: ₹10,871/month at 11%. Min income: ₹25,884/month.
A ₹5 Lakh business loan from Union Bank at 11% interest for 5 years will cost you ₹10,871 per month as EMI. You will pay a total interest of ₹1,52,260 over the loan tenure. The minimum monthly income needed is ₹25,884 (assuming no existing EMIs).
Union Bank Business Loan EMI for ₹5 Lakh at 11% for 5 years is ₹10,871 per month.
You need a minimum monthly income of ₹25,884 for a ₹5 Lakh business loan from Union Bank (at 11% rate, assuming no existing EMIs).
The total interest payable on ₹5 Lakh business loan from Union Bank at 11% for 5 years is ₹1,52,260.
Union Bank charges a processing fee of 1% + GST for Business Loan.
Union Bank Business Loan prepayment policy: 2% of outstanding.