Monthly EMI: ₹22,498 at 12.5% for 5 years. Total interest: ₹3,49,880.
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With a ₹10 Lakh business loan from IDFC First Bank at 12.5% for 5 years, you will pay a monthly EMI of ₹22,498. The total amount payable is ₹13,49,880, of which ₹3,49,880 is interest.
At 12.5% interest rate for 5 years, the EMI for ₹10 Lakh Business Loan from IDFC First Bank is ₹22,498 per month. Total interest payable: ₹3,49,880.
IDFC First Bank offers Business Loan at 12.50 - 22.00% p.a. The actual rate may vary based on your credit score, income, and the loan amount.
For ₹10 Lakh at 12.5% for 5 years, you would pay approximately ₹3,49,880 as total interest, making the total repayment ₹13,49,880.
IDFC First Bank's prepayment policy for Business Loan: 5% of outstanding. Making prepayments can significantly reduce your total interest outgo.
IDFC First Bank offers competitive rates starting from 12.50 - 22.00% with tenure up to 5 years. Compare with other banks on this page to find the best option for your ₹10 Lakh business loan.