EMI: ₹22,498/month at 12.5%. Min income: ₹56,245/month.
A ₹10 Lakh business loan from IDFC First Bank at 12.5% interest for 5 years will cost you ₹22,498 per month as EMI. You will pay a total interest of ₹3,49,880 over the loan tenure. The minimum monthly income needed is ₹56,245 (assuming no existing EMIs).
IDFC First Bank Business Loan EMI for ₹10 Lakh at 12.5% for 5 years is ₹22,498 per month.
You need a minimum monthly income of ₹56,245 for a ₹10 Lakh business loan from IDFC First Bank (at 12.5% rate, assuming no existing EMIs).
The total interest payable on ₹10 Lakh business loan from IDFC First Bank at 12.5% for 5 years is ₹3,49,880.
IDFC First Bank charges a processing fee of 2% + GST for Business Loan.
IDFC First Bank Business Loan prepayment policy: 5% of outstanding.