EMI: ₹14,497/month at 8.9%. Min income: ₹25,434/month.
A ₹7 Lakh car loan from Central Bank at 8.9% interest for 5 years will cost you ₹14,497 per month as EMI. You will pay a total interest of ₹1,69,820 over the loan tenure. The minimum monthly income needed is ₹25,434 (assuming no existing EMIs).
Central Bank Car Loan EMI for ₹7 Lakh at 8.9% for 5 years is ₹14,497 per month.
You need a minimum monthly income of ₹25,434 for a ₹7 Lakh car loan from Central Bank (at 8.9% rate, assuming no existing EMIs).
The total interest payable on ₹7 Lakh car loan from Central Bank at 8.9% for 5 years is ₹1,69,820.
Central Bank charges a processing fee of 0.50% + GST for Car Loan.
Central Bank Car Loan prepayment policy: Nil after 12 months.