EMI: ₹12,397/month at 8.8%. Min income: ₹22,540/month.
A ₹6 Lakh car loan from Federal Bank at 8.8% interest for 5 years will cost you ₹12,397 per month as EMI. You will pay a total interest of ₹1,43,820 over the loan tenure. The minimum monthly income needed is ₹22,540 (assuming no existing EMIs).
Federal Bank Car Loan EMI for ₹6 Lakh at 8.8% for 5 years is ₹12,397 per month.
You need a minimum monthly income of ₹22,540 for a ₹6 Lakh car loan from Federal Bank (at 8.8% rate, assuming no existing EMIs).
The total interest payable on ₹6 Lakh car loan from Federal Bank at 8.8% for 5 years is ₹1,43,820.
Federal Bank charges a processing fee of 0.50% + GST for Car Loan.
Federal Bank Car Loan prepayment policy: Nil after 6 months.