Monthly EMI: ₹10,624 at 10% for 5 years. Total interest: ₹1,37,440.
| Year | Principal | Interest | Balance |
|---|
With a ₹5 Lakh car loan from Mahindra Finance at 10% for 5 years, you will pay a monthly EMI of ₹10,624. The total amount payable is ₹6,37,440, of which ₹1,37,440 is interest.
At 10% interest rate for 5 years, the EMI for ₹5 Lakh Car Loan from Mahindra Finance is ₹10,624 per month. Total interest payable: ₹1,37,440.
Mahindra Finance offers Car Loan at 10.00 - 18.00% p.a. The actual rate may vary based on your credit score, income, and the loan amount.
For ₹5 Lakh at 10% for 5 years, you would pay approximately ₹1,37,440 as total interest, making the total repayment ₹6,37,440.
Mahindra Finance's prepayment policy for Car Loan: 5% of outstanding. Making prepayments can significantly reduce your total interest outgo.
Mahindra Finance offers competitive rates starting from 10.00 - 18.00% with tenure up to 7 years. Compare with other banks on this page to find the best option for your ₹5 Lakh car loan.