Monthly EMI: ₹11,505 at 13.5% for 5 years. Total interest: ₹1,90,300.
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With a ₹5 Lakh business loan from ICICI Bank at 13.5% for 5 years, you will pay a monthly EMI of ₹11,505. The total amount payable is ₹6,90,300, of which ₹1,90,300 is interest.
At 13.5% interest rate for 5 years, the EMI for ₹5 Lakh Business Loan from ICICI Bank is ₹11,505 per month. Total interest payable: ₹1,90,300.
ICICI Bank offers Business Loan at 13.50 - 19.00% p.a. The actual rate may vary based on your credit score, income, and the loan amount.
For ₹5 Lakh at 13.5% for 5 years, you would pay approximately ₹1,90,300 as total interest, making the total repayment ₹6,90,300.
ICICI Bank's prepayment policy for Business Loan: 4% of outstanding. Making prepayments can significantly reduce your total interest outgo.
ICICI Bank offers competitive rates starting from 13.50 - 19.00% with tenure up to 5 years. Compare with other banks on this page to find the best option for your ₹5 Lakh business loan.