EMI: ₹20,661/month at 8.8%. Min income: ₹37,566/month.
A ₹10 Lakh car loan from Federal Bank at 8.8% interest for 5 years will cost you ₹20,661 per month as EMI. You will pay a total interest of ₹2,39,660 over the loan tenure. The minimum monthly income needed is ₹37,566 (assuming no existing EMIs).
Federal Bank Car Loan EMI for ₹10 Lakh at 8.8% for 5 years is ₹20,661 per month.
You need a minimum monthly income of ₹37,566 for a ₹10 Lakh car loan from Federal Bank (at 8.8% rate, assuming no existing EMIs).
The total interest payable on ₹10 Lakh car loan from Federal Bank at 8.8% for 5 years is ₹2,39,660.
Federal Bank charges a processing fee of 0.50% + GST for Car Loan.
Federal Bank Car Loan prepayment policy: Nil after 6 months.