EMI: ₹14,480/month at 8.85%. Min income: ₹25,404/month.
A ₹7 Lakh car loan from Bank of India at 8.85% interest for 5 years will cost you ₹14,480 per month as EMI. You will pay a total interest of ₹1,68,800 over the loan tenure. The minimum monthly income needed is ₹25,404 (assuming no existing EMIs).
Bank of India Car Loan EMI for ₹7 Lakh at 8.85% for 5 years is ₹14,480 per month.
You need a minimum monthly income of ₹25,404 for a ₹7 Lakh car loan from Bank of India (at 8.85% rate, assuming no existing EMIs).
The total interest payable on ₹7 Lakh car loan from Bank of India at 8.85% for 5 years is ₹1,68,800.
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.