Monthly EMI: ₹14,429 at 8.7% for 5 years. Total interest: ₹1,65,740.
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With a ₹7 Lakh car loan from Axis Bank at 8.7% for 5 years, you will pay a monthly EMI of ₹14,429. The total amount payable is ₹8,65,740, of which ₹1,65,740 is interest.
At 8.7% interest rate for 5 years, the EMI for ₹7 Lakh Car Loan from Axis Bank is ₹14,429 per month. Total interest payable: ₹1,65,740.
Axis Bank offers Car Loan at 8.70 - 12.50% p.a. The actual rate may vary based on your credit score, income, and the loan amount.
For ₹7 Lakh at 8.7% for 5 years, you would pay approximately ₹1,65,740 as total interest, making the total repayment ₹8,65,740.
Axis Bank's prepayment policy for Car Loan: 5% of outstanding principal. Making prepayments can significantly reduce your total interest outgo.
Axis Bank offers competitive rates starting from 8.70 - 12.50% with tenure up to 7 years. Compare with other banks on this page to find the best option for your ₹7 Lakh car loan.