EMI: ₹10,343/month at 8.85%. Min income: ₹18,146/month.
A ₹5 Lakh car loan from Bank of India at 8.85% interest for 5 years will cost you ₹10,343 per month as EMI. You will pay a total interest of ₹1,20,580 over the loan tenure. The minimum monthly income needed is ₹18,146 (assuming no existing EMIs).
Bank of India Car Loan EMI for ₹5 Lakh at 8.85% for 5 years is ₹10,343 per month.
You need a minimum monthly income of ₹18,146 for a ₹5 Lakh car loan from Bank of India (at 8.85% rate, assuming no existing EMIs).
The total interest payable on ₹5 Lakh car loan from Bank of India at 8.85% for 5 years is ₹1,20,580.
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.