EMI: ₹31,028/month at 8.85%. Min income: ₹54,436/month.
A ₹15 Lakh car loan from Bank of India at 8.85% interest for 5 years will cost you ₹31,028 per month as EMI. You will pay a total interest of ₹3,61,680 over the loan tenure. The minimum monthly income needed is ₹54,436 (assuming no existing EMIs).
Bank of India Car Loan EMI for ₹15 Lakh at 8.85% for 5 years is ₹31,028 per month.
You need a minimum monthly income of ₹54,436 for a ₹15 Lakh car loan from Bank of India (at 8.85% rate, assuming no existing EMIs).
The total interest payable on ₹15 Lakh car loan from Bank of India at 8.85% for 5 years is ₹3,61,680.
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.