EMI: ₹41,371/month at 8.85%. Min income: ₹72,581/month.
A ₹20 Lakh car loan from Bank of India at 8.85% interest for 5 years will cost you ₹41,371 per month as EMI. You will pay a total interest of ₹4,82,260 over the loan tenure. The minimum monthly income needed is ₹72,581 (assuming no existing EMIs).
Bank of India Car Loan EMI for ₹20 Lakh at 8.85% for 5 years is ₹41,371 per month.
You need a minimum monthly income of ₹72,581 for a ₹20 Lakh car loan from Bank of India (at 8.85% rate, assuming no existing EMIs).
The total interest payable on ₹20 Lakh car loan from Bank of India at 8.85% for 5 years is ₹4,82,260.
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.