EMI: ₹12,411/month at 8.85%. Min income: ₹21,774/month.
A ₹6 Lakh car loan from Bank of India at 8.85% interest for 5 years will cost you ₹12,411 per month as EMI. You will pay a total interest of ₹1,44,660 over the loan tenure. The minimum monthly income needed is ₹21,774 (assuming no existing EMIs).
Bank of India Car Loan EMI for ₹6 Lakh at 8.85% for 5 years is ₹12,411 per month.
You need a minimum monthly income of ₹21,774 for a ₹6 Lakh car loan from Bank of India (at 8.85% rate, assuming no existing EMIs).
The total interest payable on ₹6 Lakh car loan from Bank of India at 8.85% for 5 years is ₹1,44,660.
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.