Monthly EMI: ₹16,510 at 8.75% for 5 years. Total interest: ₹1,90,600.
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With a ₹8 Lakh car loan from Canara Bank at 8.75% for 5 years, you will pay a monthly EMI of ₹16,510. The total amount payable is ₹9,90,600, of which ₹1,90,600 is interest.
At 8.75% interest rate for 5 years, the EMI for ₹8 Lakh Car Loan from Canara Bank is ₹16,510 per month. Total interest payable: ₹1,90,600.
Canara Bank offers Car Loan at 8.75 - 10.50% p.a. The actual rate may vary based on your credit score, income, and the loan amount.
For ₹8 Lakh at 8.75% for 5 years, you would pay approximately ₹1,90,600 as total interest, making the total repayment ₹9,90,600.
Canara Bank's prepayment policy for Car Loan: Nil after 12 months. Making prepayments can significantly reduce your total interest outgo.
Canara Bank offers competitive rates starting from 8.75 - 10.50% with tenure up to 7 years. Compare with other banks on this page to find the best option for your ₹8 Lakh car loan.