EMI: ₹41,226/month at 8.7%. Min income: ₹74,957/month.
A ₹20 Lakh car loan from Kotak Mahindra Bank at 8.7% interest for 5 years will cost you ₹41,226 per month as EMI. You will pay a total interest of ₹4,73,560 over the loan tenure. The minimum monthly income needed is ₹74,957 (assuming no existing EMIs).
Kotak Mahindra Bank Car Loan EMI for ₹20 Lakh at 8.7% for 5 years is ₹41,226 per month.
You need a minimum monthly income of ₹74,957 for a ₹20 Lakh car loan from Kotak Mahindra Bank (at 8.7% rate, assuming no existing EMIs).
The total interest payable on ₹20 Lakh car loan from Kotak Mahindra Bank at 8.7% for 5 years is ₹4,73,560.
Kotak Mahindra Bank charges a processing fee of 0.50% of loan amount for Car Loan.
Kotak Mahindra Bank Car Loan prepayment policy: Nil after 12 months.