EMI: ₹8,274/month at 8.85%. Min income: ₹14,516/month.
A ₹4 Lakh car loan from Bank of India at 8.85% interest for 5 years will cost you ₹8,274 per month as EMI. You will pay a total interest of ₹96,440 over the loan tenure. The minimum monthly income needed is ₹14,516 (assuming no existing EMIs).
Bank of India Car Loan EMI for ₹4 Lakh at 8.85% for 5 years is ₹8,274 per month.
You need a minimum monthly income of ₹14,516 for a ₹4 Lakh car loan from Bank of India (at 8.85% rate, assuming no existing EMIs).
The total interest payable on ₹4 Lakh car loan from Bank of India at 8.85% for 5 years is ₹96,440.
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.