EMI: ₹41,323/month at 8.8%. Min income: ₹75,133/month.
A ₹20 Lakh car loan from Federal Bank at 8.8% interest for 5 years will cost you ₹41,323 per month as EMI. You will pay a total interest of ₹4,79,380 over the loan tenure. The minimum monthly income needed is ₹75,133 (assuming no existing EMIs).
Federal Bank Car Loan EMI for ₹20 Lakh at 8.8% for 5 years is ₹41,323 per month.
You need a minimum monthly income of ₹75,133 for a ₹20 Lakh car loan from Federal Bank (at 8.8% rate, assuming no existing EMIs).
The total interest payable on ₹20 Lakh car loan from Federal Bank at 8.8% for 5 years is ₹4,79,380.
Federal Bank charges a processing fee of 0.50% + GST for Car Loan.
Federal Bank Car Loan prepayment policy: Nil after 6 months.