Check minimum income required for a ₹15 Lakh business loan. EMI starts ₹32,055/month. Compare 28+ banks.
To get a ₹15 Lakh business loan, you need a minimum monthly income of approximately ₹80,138 (at the lowest rate of 10.25% for 5 years, assuming no existing EMIs).
| Bank | Rate | Monthly EMI | Min Income Required | Processing Fee |
|---|---|---|---|---|
| Tata Capital | 13.00 - 20.00% | ₹34,130 | ₹75,845/mo | 2% + GST |
| Bank of Baroda | 10.25 - 14.65% | ₹32,055 | ₹76,322/mo | 1% of loan amount + GST |
| Canara Bank | 10.85 - 14.85% | ₹32,502 | ₹77,386/mo | 1% + GST |
| Bajaj Finserv | 14.00 - 26.00% | ₹34,902 | ₹77,560/mo | Up to 3.50% |
| L&T Finance | 14.00 - 22.00% | ₹34,902 | ₹77,560/mo | 2% + GST |
| SBI | 11.00 - 14.75% | ₹32,614 | ₹77,653/mo | 1% of loan amount + GST |
| Union Bank | 11.00 - 14.00% | ₹32,614 | ₹77,653/mo | 1% + GST |
| Indian Bank | 11.15 - 13.65% | ₹32,726 | ₹77,920/mo | 1% + GST |
| Bank of India | 11.25 - 14.75% | ₹32,801 | ₹78,098/mo | 1% + GST |
| Mahindra Finance | 14.50 - 22.00% | ₹35,292 | ₹78,427/mo | 2% + GST |
| PNB | 11.50 - 14.50% | ₹32,989 | ₹78,546/mo | 1% + GST |
| IDBI Bank | 11.50 - 14.00% | ₹32,989 | ₹78,546/mo | 1% + GST |
| Central Bank | 11.50 - 14.50% | ₹32,989 | ₹78,546/mo | 1% + GST |
| Muthoot Finance | 15.00 - 24.00% | ₹35,685 | ₹79,300/mo | 2% + GST |
| Piramal Finance | 15.00 - 24.00% | ₹35,685 | ₹79,300/mo | 2% + GST |
| Hero FinCorp | 15.00 - 22.00% | ₹35,685 | ₹79,300/mo | 2% + GST |
| Manappuram Finance | 16.00 - 26.00% | ₹36,477 | ₹81,060/mo | 2.50% + GST |
| HDFC Bank | 11.50 - 18.00% | ₹32,989 | ₹82,473/mo | Up to 2% of loan amount |
| South Indian Bank | 11.50 - 15.00% | ₹32,989 | ₹82,473/mo | 1% + GST |
| Federal Bank | 12.00 - 16.50% | ₹33,367 | ₹83,418/mo | 1.50% + GST |
| Karur Vysya Bank | 12.00 - 16.00% | ₹33,367 | ₹83,418/mo | 1% + GST |
| IDFC First Bank | 12.50 - 22.00% | ₹33,747 | ₹84,368/mo | 2% + GST |
| ICICI Bank | 13.50 - 19.00% | ₹34,515 | ₹86,288/mo | Up to 2.50% |
| Yes Bank | 13.50 - 20.00% | ₹34,515 | ₹86,288/mo | 2% + GST |
| Kotak Mahindra Bank | 14.00 - 19.99% | ₹34,902 | ₹87,255/mo | 2.50% of loan amount |
| IndusInd Bank | 14.00 - 22.00% | ₹34,902 | ₹87,255/mo | 2% + GST |
| Axis Bank | 14.25 - 19.20% | ₹35,097 | ₹87,743/mo | 2% of loan amount |
| Bandhan Bank | 14.50 - 20.00% | ₹35,292 | ₹88,230/mo | 2% + GST |
The EMI for ₹15 Lakh business loan at 10.25% for 5 years is approximately ₹32,055 per month.
You need a minimum monthly income of approximately ₹80,138 for a ₹15 Lakh business loan at 10.25% interest rate (assuming no existing EMIs and 40% FOIR).
The lowest interest rate for ₹15 Lakh business loan starts from 10.25% p.a. in 2026. Compare all banks above.
With a ₹30,000 monthly salary and no existing EMIs, your maximum business loan eligibility at 10.25% for 5 years is approximately ₹5.62 L.
The total interest on ₹15 Lakh business loan at 10.25% for 5 years is approximately ₹4.23 L.