Monthly EMI: ₹11,249 at 12.5% for 5 years. Total interest: ₹1,74,940.
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With a ₹5 Lakh business loan from IDFC First Bank at 12.5% for 5 years, you will pay a monthly EMI of ₹11,249. The total amount payable is ₹6,74,940, of which ₹1,74,940 is interest.
At 12.5% interest rate for 5 years, the EMI for ₹5 Lakh Business Loan from IDFC First Bank is ₹11,249 per month. Total interest payable: ₹1,74,940.
IDFC First Bank offers Business Loan at 12.50 - 22.00% p.a. The actual rate may vary based on your credit score, income, and the loan amount.
For ₹5 Lakh at 12.5% for 5 years, you would pay approximately ₹1,74,940 as total interest, making the total repayment ₹6,74,940.
IDFC First Bank's prepayment policy for Business Loan: 5% of outstanding. Making prepayments can significantly reduce your total interest outgo.
IDFC First Bank offers competitive rates starting from 12.50 - 22.00% with tenure up to 5 years. Compare with other banks on this page to find the best option for your ₹5 Lakh business loan.