EMI: ₹24,765/month at 8.75%. Min income: ₹43,448/month.
A ₹12 Lakh car loan from Canara Bank at 8.75% interest for 5 years will cost you ₹24,765 per month as EMI. You will pay a total interest of ₹2,85,900 over the loan tenure. The minimum monthly income needed is ₹43,448 (assuming no existing EMIs).
Canara Bank Car Loan EMI for ₹12 Lakh at 8.75% for 5 years is ₹24,765 per month.
You need a minimum monthly income of ₹43,448 for a ₹12 Lakh car loan from Canara Bank (at 8.75% rate, assuming no existing EMIs).
The total interest payable on ₹12 Lakh car loan from Canara Bank at 8.75% for 5 years is ₹2,85,900.
Canara Bank charges a processing fee of 0.50% + GST for Car Loan.
Canara Bank Car Loan prepayment policy: Nil after 12 months.