EMI: ₹16,568/month at 8.9%. Min income: ₹29,067/month.
A ₹8 Lakh car loan from Central Bank at 8.9% interest for 5 years will cost you ₹16,568 per month as EMI. You will pay a total interest of ₹1,94,080 over the loan tenure. The minimum monthly income needed is ₹29,067 (assuming no existing EMIs).
Central Bank Car Loan EMI for ₹8 Lakh at 8.9% for 5 years is ₹16,568 per month.
You need a minimum monthly income of ₹29,067 for a ₹8 Lakh car loan from Central Bank (at 8.9% rate, assuming no existing EMIs).
The total interest payable on ₹8 Lakh car loan from Central Bank at 8.9% for 5 years is ₹1,94,080.
Central Bank charges a processing fee of 0.50% + GST for Car Loan.
Central Bank Car Loan prepayment policy: Nil after 12 months.