EMI: ₹44,996/month at 12.5%. Min income: ₹1,12,490/month.
A ₹20 Lakh business loan from IDFC First Bank at 12.5% interest for 5 years will cost you ₹44,996 per month as EMI. You will pay a total interest of ₹6,99,760 over the loan tenure. The minimum monthly income needed is ₹1,12,490 (assuming no existing EMIs).
IDFC First Bank Business Loan EMI for ₹20 Lakh at 12.5% for 5 years is ₹44,996 per month.
You need a minimum monthly income of ₹1,12,490 for a ₹20 Lakh business loan from IDFC First Bank (at 12.5% rate, assuming no existing EMIs).
The total interest payable on ₹20 Lakh business loan from IDFC First Bank at 12.5% for 5 years is ₹6,99,760.
IDFC First Bank charges a processing fee of 2% + GST for Business Loan.
IDFC First Bank Business Loan prepayment policy: 5% of outstanding.