Monthly EMI: ₹14,463 at 8.8% for 5 years. Total interest: ₹1,67,780.
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With a ₹7 Lakh car loan from Federal Bank at 8.8% for 5 years, you will pay a monthly EMI of ₹14,463. The total amount payable is ₹8,67,780, of which ₹1,67,780 is interest.
At 8.8% interest rate for 5 years, the EMI for ₹7 Lakh Car Loan from Federal Bank is ₹14,463 per month. Total interest payable: ₹1,67,780.
Federal Bank offers Car Loan at 8.80 - 12.50% p.a. The actual rate may vary based on your credit score, income, and the loan amount.
For ₹7 Lakh at 8.8% for 5 years, you would pay approximately ₹1,67,780 as total interest, making the total repayment ₹8,67,780.
Federal Bank's prepayment policy for Car Loan: Nil after 6 months. Making prepayments can significantly reduce your total interest outgo.
Federal Bank offers competitive rates starting from 8.80 - 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.