Monthly EMI: ₹32,801 at 11.25% for 5 years. Total interest: ₹4,68,060.
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With a ₹15 Lakh business loan from Bank of India at 11.25% for 5 years, you will pay a monthly EMI of ₹32,801. The total amount payable is ₹19,68,060, of which ₹4,68,060 is interest.
At 11.25% interest rate for 5 years, the EMI for ₹15 Lakh Business Loan from Bank of India is ₹32,801 per month. Total interest payable: ₹4,68,060.
Bank of India offers Business Loan at 11.25 - 14.75% p.a. The actual rate may vary based on your credit score, income, and the loan amount.
For ₹15 Lakh at 11.25% for 5 years, you would pay approximately ₹4,68,060 as total interest, making the total repayment ₹19,68,060.
Bank of India's prepayment policy for Business Loan: 2% of outstanding. Making prepayments can significantly reduce your total interest outgo.
Bank of India offers competitive rates starting from 11.25 - 14.75% with tenure up to 5 years. Compare with other banks on this page to find the best option for your ₹15 Lakh business loan.