Monthly EMI: ₹8,245 at 8.7% for 5 years. Total interest: ₹94,700.
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With a ₹4 Lakh car loan from Kotak Mahindra Bank at 8.7% for 5 years, you will pay a monthly EMI of ₹8,245. The total amount payable is ₹4,94,700, of which ₹94,700 is interest.
At 8.7% interest rate for 5 years, the EMI for ₹4 Lakh Car Loan from Kotak Mahindra Bank is ₹8,245 per month. Total interest payable: ₹94,700.
Kotak Mahindra Bank offers Car Loan at 8.70 - 12.00% p.a. The actual rate may vary based on your credit score, income, and the loan amount.
For ₹4 Lakh at 8.7% for 5 years, you would pay approximately ₹94,700 as total interest, making the total repayment ₹4,94,700.
Kotak Mahindra Bank's prepayment policy for Car Loan: Nil after 12 months. Making prepayments can significantly reduce your total interest outgo.
Kotak Mahindra Bank offers competitive rates starting from 8.70 - 12.00% with tenure up to 7 years. Compare with other banks on this page to find the best option for your ₹4 Lakh car loan.