Monthly EMI: ₹47,580 at 15% for 5 years. Total interest: ₹8,54,800.
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With a ₹20 Lakh business loan from Muthoot Finance at 15% for 5 years, you will pay a monthly EMI of ₹47,580. The total amount payable is ₹28,54,800, of which ₹8,54,800 is interest.
At 15% interest rate for 5 years, the EMI for ₹20 Lakh Business Loan from Muthoot Finance is ₹47,580 per month. Total interest payable: ₹8,54,800.
Muthoot Finance offers Business Loan at 15.00 - 24.00% p.a. The actual rate may vary based on your credit score, income, and the loan amount.
For ₹20 Lakh at 15% for 5 years, you would pay approximately ₹8,54,800 as total interest, making the total repayment ₹28,54,800.
Muthoot Finance's prepayment policy for Business Loan: 4% of outstanding. Making prepayments can significantly reduce your total interest outgo.
Muthoot Finance offers competitive rates starting from 15.00 - 24.00% with tenure up to 3 years. Compare with other banks on this page to find the best option for your ₹20 Lakh business loan.