EMI: ₹24,823/month at 8.85%. Min income: ₹43,550/month.
A ₹12 Lakh car loan from Bank of India at 8.85% interest for 5 years will cost you ₹24,823 per month as EMI. You will pay a total interest of ₹2,89,380 over the loan tenure. The minimum monthly income needed is ₹43,550 (assuming no existing EMIs).
Bank of India Car Loan EMI for ₹12 Lakh at 8.85% for 5 years is ₹24,823 per month.
You need a minimum monthly income of ₹43,550 for a ₹12 Lakh car loan from Bank of India (at 8.85% rate, assuming no existing EMIs).
The total interest payable on ₹12 Lakh car loan from Bank of India at 8.85% for 5 years is ₹2,89,380.
Bank of India charges a processing fee of 0.50% + GST for Car Loan.
Bank of India Car Loan prepayment policy: Nil after 12 months.