EMI: ₹65,978/month at 11.5%. Min income: ₹1,57,091/month.
A ₹30 Lakh business loan from IDBI Bank at 11.5% interest for 5 years will cost you ₹65,978 per month as EMI. You will pay a total interest of ₹9,58,680 over the loan tenure. The minimum monthly income needed is ₹1,57,091 (assuming no existing EMIs).
IDBI Bank Business Loan EMI for ₹30 Lakh at 11.5% for 5 years is ₹65,978 per month.
You need a minimum monthly income of ₹1,57,091 for a ₹30 Lakh business loan from IDBI Bank (at 11.5% rate, assuming no existing EMIs).
The total interest payable on ₹30 Lakh business loan from IDBI Bank at 11.5% for 5 years is ₹9,58,680.
IDBI Bank charges a processing fee of 1% + GST for Business Loan.
IDBI Bank Business Loan prepayment policy: 2% of outstanding.