Monthly EMI: ₹6,184 at 8.7% for 5 years. Total interest: ₹71,040.
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With a ₹3 Lakh car loan from Kotak Mahindra Bank at 8.7% for 5 years, you will pay a monthly EMI of ₹6,184. The total amount payable is ₹3,71,040, of which ₹71,040 is interest.
At 8.7% interest rate for 5 years, the EMI for ₹3 Lakh Car Loan from Kotak Mahindra Bank is ₹6,184 per month. Total interest payable: ₹71,040.
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 ₹3 Lakh at 8.7% for 5 years, you would pay approximately ₹71,040 as total interest, making the total repayment ₹3,71,040.
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 ₹3 Lakh car loan.