Monthly EMI: ₹22,244 at 12% for 5 years. Total interest: ₹3,34,640.
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With a ₹10 Lakh business loan from Federal Bank at 12% for 5 years, you will pay a monthly EMI of ₹22,244. The total amount payable is ₹13,34,640, of which ₹3,34,640 is interest.
At 12% interest rate for 5 years, the EMI for ₹10 Lakh Business Loan from Federal Bank is ₹22,244 per month. Total interest payable: ₹3,34,640.
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 ₹10 Lakh at 12% for 5 years, you would pay approximately ₹3,34,640 as total interest, making the total repayment ₹13,34,640.
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 ₹10 Lakh business loan.