EMI: ₹21,742/month at 11%. Min income: ₹51,767/month.
A ₹10 Lakh business loan from Union Bank at 11% interest for 5 years will cost you ₹21,742 per month as EMI. You will pay a total interest of ₹3,04,520 over the loan tenure. The minimum monthly income needed is ₹51,767 (assuming no existing EMIs).
Union Bank Business Loan EMI for ₹10 Lakh at 11% for 5 years is ₹21,742 per month.
You need a minimum monthly income of ₹51,767 for a ₹10 Lakh business loan from Union Bank (at 11% rate, assuming no existing EMIs).
The total interest payable on ₹10 Lakh business loan from Union Bank at 11% for 5 years is ₹3,04,520.
Union Bank charges a processing fee of 1% + GST for Business Loan.
Union Bank Business Loan prepayment policy: 2% of outstanding.