Monthly EMI: ₹11,634 at 14% for 5 years. Total interest: ₹1,98,040.
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With a ₹5 Lakh business loan from Kotak Mahindra Bank at 14% for 5 years, you will pay a monthly EMI of ₹11,634. The total amount payable is ₹6,98,040, of which ₹1,98,040 is interest.
At 14% interest rate for 5 years, the EMI for ₹5 Lakh Business Loan from Kotak Mahindra Bank is ₹11,634 per month. Total interest payable: ₹1,98,040.
Kotak Mahindra Bank offers Business Loan at 14.00 - 19.99% p.a. The actual rate may vary based on your credit score, income, and the loan amount.
For ₹5 Lakh at 14% for 5 years, you would pay approximately ₹1,98,040 as total interest, making the total repayment ₹6,98,040.
Kotak Mahindra Bank's prepayment policy for Business Loan: 4% of outstanding. Making prepayments can significantly reduce your total interest outgo.
Kotak Mahindra Bank offers competitive rates starting from 14.00 - 19.99% with tenure up to 5 years. Compare with other banks on this page to find the best option for your ₹5 Lakh business loan.