EMI: ₹21,993/month at 11.5%. Min income: ₹52,365/month.
A ₹10 Lakh business loan from Central Bank at 11.5% interest for 5 years will cost you ₹21,993 per month as EMI. You will pay a total interest of ₹3,19,580 over the loan tenure. The minimum monthly income needed is ₹52,365 (assuming no existing EMIs).
Central Bank Business Loan EMI for ₹10 Lakh at 11.5% for 5 years is ₹21,993 per month.
You need a minimum monthly income of ₹52,365 for a ₹10 Lakh business loan from Central Bank (at 11.5% rate, assuming no existing EMIs).
The total interest payable on ₹10 Lakh business loan from Central Bank at 11.5% for 5 years is ₹3,19,580.
Central Bank charges a processing fee of 1% + GST for Business Loan.
Central Bank Business Loan prepayment policy: 2% of outstanding.