EMI: ₹46,796/month at 14.25%. Min income: ₹1,16,990/month.
A ₹20 Lakh business loan from Axis Bank at 14.25% interest for 5 years will cost you ₹46,796 per month as EMI. You will pay a total interest of ₹8,07,760 over the loan tenure. The minimum monthly income needed is ₹1,16,990 (assuming no existing EMIs).
Axis Bank Business Loan EMI for ₹20 Lakh at 14.25% for 5 years is ₹46,796 per month.
You need a minimum monthly income of ₹1,16,990 for a ₹20 Lakh business loan from Axis Bank (at 14.25% rate, assuming no existing EMIs).
The total interest payable on ₹20 Lakh business loan from Axis Bank at 14.25% for 5 years is ₹8,07,760.
Axis Bank charges a processing fee of 2% of loan amount for Business Loan.
Axis Bank Business Loan prepayment policy: 4% of outstanding.