Monthly EMI: ₹24,736 at 8.7% for 5 years. Total interest: ₹2,84,160.
| Year | Principal | Interest | Balance |
|---|
With a ₹12 Lakh car loan from Union Bank at 8.7% for 5 years, you will pay a monthly EMI of ₹24,736. The total amount payable is ₹14,84,160, of which ₹2,84,160 is interest.
At 8.7% interest rate for 5 years, the EMI for ₹12 Lakh Car Loan from Union Bank is ₹24,736 per month. Total interest payable: ₹2,84,160.
Union Bank offers Car Loan at 8.70 - 10.70% p.a. The actual rate may vary based on your credit score, income, and the loan amount.
For ₹12 Lakh at 8.7% for 5 years, you would pay approximately ₹2,84,160 as total interest, making the total repayment ₹14,84,160.
Union Bank's prepayment policy for Car Loan: Nil after 12 months. Making prepayments can significantly reduce your total interest outgo.
Union Bank offers competitive rates starting from 8.70 - 10.70% with tenure up to 7 years. Compare with other banks on this page to find the best option for your ₹12 Lakh car loan.