EMI: ₹20,710/month at 8.9%. Min income: ₹36,334/month.
A ₹10 Lakh car loan from Central Bank at 8.9% interest for 5 years will cost you ₹20,710 per month as EMI. You will pay a total interest of ₹2,42,600 over the loan tenure. The minimum monthly income needed is ₹36,334 (assuming no existing EMIs).
Central Bank Car Loan EMI for ₹10 Lakh at 8.9% for 5 years is ₹20,710 per month.
You need a minimum monthly income of ₹36,334 for a ₹10 Lakh car loan from Central Bank (at 8.9% rate, assuming no existing EMIs).
The total interest payable on ₹10 Lakh car loan from Central Bank at 8.9% for 5 years is ₹2,42,600.
Central Bank charges a processing fee of 0.50% + GST for Car Loan.
Central Bank Car Loan prepayment policy: Nil after 12 months.