EMI: ₹16,529/month at 8.8%. Min income: ₹30,053/month.
A ₹8 Lakh car loan from Federal Bank at 8.8% interest for 5 years will cost you ₹16,529 per month as EMI. You will pay a total interest of ₹1,91,740 over the loan tenure. The minimum monthly income needed is ₹30,053 (assuming no existing EMIs).
Federal Bank Car Loan EMI for ₹8 Lakh at 8.8% for 5 years is ₹16,529 per month.
You need a minimum monthly income of ₹30,053 for a ₹8 Lakh car loan from Federal Bank (at 8.8% rate, assuming no existing EMIs).
The total interest payable on ₹8 Lakh car loan from Federal Bank at 8.8% for 5 years is ₹1,91,740.
Federal Bank charges a processing fee of 0.50% + GST for Car Loan.
Federal Bank Car Loan prepayment policy: Nil after 6 months.