Monthly EMI: ₹20,710 at 8.9% for 5 years. Total interest: ₹2,42,600.
| Year | Principal | Interest | Balance |
|---|
With a ₹10 Lakh car loan from Central Bank at 8.9% for 5 years, you will pay a monthly EMI of ₹20,710. The total amount payable is ₹12,42,600, of which ₹2,42,600 is interest.
At 8.9% interest rate for 5 years, the EMI for ₹10 Lakh Car Loan from Central Bank is ₹20,710 per month. Total interest payable: ₹2,42,600.
Central Bank offers Car Loan at 8.90 - 10.90% p.a. The actual rate may vary based on your credit score, income, and the loan amount.
For ₹10 Lakh at 8.9% for 5 years, you would pay approximately ₹2,42,600 as total interest, making the total repayment ₹12,42,600.
Central Bank's prepayment policy for Car Loan: Nil after 12 months. Making prepayments can significantly reduce your total interest outgo.
Central Bank offers competitive rates starting from 8.90 - 10.90% with tenure up to 7 years. Compare with other banks on this page to find the best option for your ₹10 Lakh car loan.