Monthly EMI: ₹41,323 at 8.8% for 5 years. Total interest: ₹4,79,380.
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With a ₹20 Lakh car loan from IDBI Bank at 8.8% for 5 years, you will pay a monthly EMI of ₹41,323. The total amount payable is ₹24,79,380, of which ₹4,79,380 is interest.
At 8.8% interest rate for 5 years, the EMI for ₹20 Lakh Car Loan from IDBI Bank is ₹41,323 per month. Total interest payable: ₹4,79,380.
IDBI Bank offers Car Loan at 8.80 - 11.00% p.a. The actual rate may vary based on your credit score, income, and the loan amount.
For ₹20 Lakh at 8.8% for 5 years, you would pay approximately ₹4,79,380 as total interest, making the total repayment ₹24,79,380.
IDBI Bank's prepayment policy for Car Loan: Nil after 12 months. Making prepayments can significantly reduce your total interest outgo.
IDBI Bank offers competitive rates starting from 8.80 - 11.00% with tenure up to 7 years. Compare with other banks on this page to find the best option for your ₹20 Lakh car loan.