EMI: ₹10,331/month at 8.8%. Min income: ₹18,784/month.
A ₹5 Lakh car loan from Federal Bank at 8.8% interest for 5 years will cost you ₹10,331 per month as EMI. You will pay a total interest of ₹1,19,860 over the loan tenure. The minimum monthly income needed is ₹18,784 (assuming no existing EMIs).
Federal Bank Car Loan EMI for ₹5 Lakh at 8.8% for 5 years is ₹10,331 per month.
You need a minimum monthly income of ₹18,784 for a ₹5 Lakh car loan from Federal Bank (at 8.8% rate, assuming no existing EMIs).
The total interest payable on ₹5 Lakh car loan from Federal Bank at 8.8% for 5 years is ₹1,19,860.
Federal Bank charges a processing fee of 0.50% + GST for Car Loan.
Federal Bank Car Loan prepayment policy: Nil after 6 months.