EMI: ₹24,794/month at 8.8%. Min income: ₹45,080/month.
A ₹12 Lakh car loan from Federal Bank at 8.8% interest for 5 years will cost you ₹24,794 per month as EMI. You will pay a total interest of ₹2,87,640 over the loan tenure. The minimum monthly income needed is ₹45,080 (assuming no existing EMIs).
Federal Bank Car Loan EMI for ₹12 Lakh at 8.8% for 5 years is ₹24,794 per month.
You need a minimum monthly income of ₹45,080 for a ₹12 Lakh car loan from Federal Bank (at 8.8% rate, assuming no existing EMIs).
The total interest payable on ₹12 Lakh car loan from Federal Bank at 8.8% for 5 years is ₹2,87,640.
Federal Bank charges a processing fee of 0.50% + GST for Car Loan.
Federal Bank Car Loan prepayment policy: Nil after 6 months.