EMI: ₹10,355/month at 8.9%. Min income: ₹18,167/month.
A ₹5 Lakh car loan from Central Bank at 8.9% interest for 5 years will cost you ₹10,355 per month as EMI. You will pay a total interest of ₹1,21,300 over the loan tenure. The minimum monthly income needed is ₹18,167 (assuming no existing EMIs).
Central Bank Car Loan EMI for ₹5 Lakh at 8.9% for 5 years is ₹10,355 per month.
You need a minimum monthly income of ₹18,167 for a ₹5 Lakh car loan from Central Bank (at 8.9% rate, assuming no existing EMIs).
The total interest payable on ₹5 Lakh car loan from Central Bank at 8.9% for 5 years is ₹1,21,300.
Central Bank charges a processing fee of 0.50% + GST for Car Loan.
Central Bank Car Loan prepayment policy: Nil after 12 months.