Monthly EMI: ₹33,367 at 12% for 5 years. Total interest: ₹5,02,020.
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With a ₹15 Lakh business loan from Federal Bank at 12% for 5 years, you will pay a monthly EMI of ₹33,367. The total amount payable is ₹20,02,020, of which ₹5,02,020 is interest.
At 12% interest rate for 5 years, the EMI for ₹15 Lakh Business Loan from Federal Bank is ₹33,367 per month. Total interest payable: ₹5,02,020.
Federal Bank offers Business Loan at 12.00 - 16.50% p.a. The actual rate may vary based on your credit score, income, and the loan amount.
For ₹15 Lakh at 12% for 5 years, you would pay approximately ₹5,02,020 as total interest, making the total repayment ₹20,02,020.
Federal Bank's prepayment policy for Business Loan: 3% of outstanding. Making prepayments can significantly reduce your total interest outgo.
Federal Bank offers competitive rates starting from 12.00 - 16.50% with tenure up to 5 years. Compare with other banks on this page to find the best option for your ₹15 Lakh business loan.