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Kotak Mahindra Bank Car Loan for ₹8 Lakh

EMI: ₹16,490/month at 8.7%. Min income: ₹29,982/month.

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Your Details
Income Details
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Loan Parameters
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Eligibility Results
Maximum Eligible Loan
₹ 0
Monthly EMI
₹ 0
Total Interest
₹ 0
Total Payment
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Monthly Income
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Existing EMIs
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New Loan EMI
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Remaining Income
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Kotak Mahindra Bank Car Loan for ₹8 Lakh - Key Details

Interest Rate
8.7% p.a.
Monthly EMI
₹16,490
Total Interest
₹1,89,400
Total Payment
₹9,89,400
Min Income Required
₹29,982/mo
Processing Fee
0.50% of loan amount

A ₹8 Lakh car loan from Kotak Mahindra Bank at 8.7% interest for 5 years will cost you ₹16,490 per month as EMI. You will pay a total interest of ₹1,89,400 over the loan tenure. The minimum monthly income needed is ₹29,982 (assuming no existing EMIs).

Frequently Asked Questions

What is Kotak Mahindra Bank car loan EMI for ₹8 Lakh?

Kotak Mahindra Bank Car Loan EMI for ₹8 Lakh at 8.7% for 5 years is ₹16,490 per month.

What income do I need for ₹8 Lakh car loan from Kotak Mahindra Bank?

You need a minimum monthly income of ₹29,982 for a ₹8 Lakh car loan from Kotak Mahindra Bank (at 8.7% rate, assuming no existing EMIs).

What is the total interest on ₹8 Lakh car loan from Kotak Mahindra Bank?

The total interest payable on ₹8 Lakh car loan from Kotak Mahindra Bank at 8.7% for 5 years is ₹1,89,400.

What is Kotak Mahindra Bank's processing fee for ₹8 Lakh car loan?

Kotak Mahindra Bank charges a processing fee of 0.50% of loan amount for Car Loan.

Can I prepay my Kotak Mahindra Bank car loan?

Kotak Mahindra Bank Car Loan prepayment policy: Nil after 12 months.

₹8 Lakh Car Loan from Other Banks

SBIFrom 8.85 - 9.55%HDFC BankFrom 8.75 - 9.50%ICICI BankFrom 8.75 - 9.60%Axis BankFrom 8.70 - 12.50%Bank of BarodaFrom 8.65 - 10.90%PNBFrom 8.85 - 10.30%Canara BankFrom 8.75 - 10.50%Union BankFrom 8.70 - 10.70%Indian BankFrom 8.80 - 10.30%IDBI BankFrom 8.80 - 11.00%

Other Kotak Mahindra Bank Car Loan Amounts

₹3 LakhEMI ₹6,184/mo₹4 LakhEMI ₹8,245/mo₹5 LakhEMI ₹10,307/mo₹6 LakhEMI ₹12,368/mo₹7 LakhEMI ₹14,429/mo₹9 LakhEMI ₹18,552/mo₹10 LakhEMI ₹20,613/mo₹12 LakhEMI ₹24,736/mo