Monthly EMI: ₹24,765 at 8.75% for 5 years. Total interest: ₹2,85,900.
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With a ₹12 Lakh car loan from Canara Bank at 8.75% for 5 years, you will pay a monthly EMI of ₹24,765. The total amount payable is ₹14,85,900, of which ₹2,85,900 is interest.
At 8.75% interest rate for 5 years, the EMI for ₹12 Lakh Car Loan from Canara Bank is ₹24,765 per month. Total interest payable: ₹2,85,900.
Canara Bank offers Car Loan at 8.75 - 10.50% p.a. The actual rate may vary based on your credit score, income, and the loan amount.
For ₹12 Lakh at 8.75% for 5 years, you would pay approximately ₹2,85,900 as total interest, making the total repayment ₹14,85,900.
Canara Bank's prepayment policy for Car Loan: Nil after 12 months. Making prepayments can significantly reduce your total interest outgo.
Canara Bank offers competitive rates starting from 8.75 - 10.50% with tenure up to 7 years. Compare with other banks on this page to find the best option for your ₹12 Lakh car loan.