EMI: ₹16,549/month at 8.85%. Min income: ₹29,034/month.
A ₹8 Lakh car loan from Bank of India at 8.85% interest for 5 years will cost you ₹16,549 per month as EMI. You will pay a total interest of ₹1,92,940 over the loan tenure. The minimum monthly income needed is ₹29,034 (assuming no existing EMIs).
Bank of India Car Loan EMI for ₹8 Lakh at 8.85% for 5 years is ₹16,549 per month.
You need a minimum monthly income of ₹29,034 for a ₹8 Lakh car loan from Bank of India (at 8.85% rate, assuming no existing EMIs).
The total interest payable on ₹8 Lakh car loan from Bank of India at 8.85% for 5 years is ₹1,92,940.
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.