Monthly EMI: ₹21,742 at 11% for 5 years. Total interest: ₹3,04,520.
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With a ₹10 Lakh business loan from SBI at 11% for 5 years, you will pay a monthly EMI of ₹21,742. The total amount payable is ₹13,04,520, of which ₹3,04,520 is interest.
At 11% interest rate for 5 years, the EMI for ₹10 Lakh Business Loan from SBI is ₹21,742 per month. Total interest payable: ₹3,04,520.
SBI offers Business Loan at 11.00 - 14.75% p.a. The actual rate may vary based on your credit score, income, and the loan amount.
For ₹10 Lakh at 11% for 5 years, you would pay approximately ₹3,04,520 as total interest, making the total repayment ₹13,04,520.
SBI's prepayment policy for Business Loan: 2% of outstanding. Making prepayments can significantly reduce your total interest outgo.
SBI offers competitive rates starting from 11.00 - 14.75% with tenure up to 5 years. Compare with other banks on this page to find the best option for your ₹10 Lakh business loan.