EMI: ₹11,634/month at 14%. Min income: ₹29,085/month.
A ₹5 Lakh business loan from Kotak Mahindra Bank at 14% interest for 5 years will cost you ₹11,634 per month as EMI. You will pay a total interest of ₹1,98,040 over the loan tenure. The minimum monthly income needed is ₹29,085 (assuming no existing EMIs).
Kotak Mahindra Bank Business Loan EMI for ₹5 Lakh at 14% for 5 years is ₹11,634 per month.
You need a minimum monthly income of ₹29,085 for a ₹5 Lakh business loan from Kotak Mahindra Bank (at 14% rate, assuming no existing EMIs).
The total interest payable on ₹5 Lakh business loan from Kotak Mahindra Bank at 14% for 5 years is ₹1,98,040.
Kotak Mahindra Bank charges a processing fee of 2.50% of loan amount for Business Loan.
Kotak Mahindra Bank Business Loan prepayment policy: 4% of outstanding.