EMI: ₹20,686/month at 8.85%. Min income: ₹36,292/month.
A ₹10 Lakh car loan from Bank of India at 8.85% interest for 5 years will cost you ₹20,686 per month as EMI. You will pay a total interest of ₹2,41,160 over the loan tenure. The minimum monthly income needed is ₹36,292 (assuming no existing EMIs).
Bank of India Car Loan EMI for ₹10 Lakh at 8.85% for 5 years is ₹20,686 per month.
You need a minimum monthly income of ₹36,292 for a ₹10 Lakh car loan from Bank of India (at 8.85% rate, assuming no existing EMIs).
The total interest payable on ₹10 Lakh car loan from Bank of India at 8.85% for 5 years is ₹2,41,160.
Bank of India charges a processing fee of 0.50% + GST for Car Loan.
Bank of India Car Loan prepayment policy: Nil after 12 months.