Central Bank of India Car Loan: Details on Central Bank of India vehicle finance schemes on Interest Rates, Documents, Eligibility, Fees and Charges, Processing Fees and EMI Calculator. You can get Cent bank loans for the Purchase of two wheeler.(New only) / four Wheeler ( New/ old car) for personal use.
Central Bank of India Car Loan Interest Rates 2021
|Interest Rates||7.25% – 7.50%|
|Max. Loan Amount||upto 75 Lakhs|
|Min. Income||Rs.20000/- p.m|
|Loan Repayment||7 years|
|Minimum Income||2.40 Lakh annual|
Central Bank of India Car loan EMI Calculator
Central Bank of India car loan emi calculator helps you to know how much emi per month you have to pay against the loan taken for purchasing the new car. you can select or choose the right loan amount as per your financial condition and it helps you in selecting the car variant as per your paying capacity of EMI. For calculation you have to just select the right loan amount, Interest Rate and Repayment period.
For an example, You can take a loan amount of Rs.3.50 lakh for Maruti Alto or Alto K10 car for 4 years repayment period at 7.25% rate of interest than you emi calculations are as follows:
- Loan Amount = Rs. 3,50,000
- Monthly Installment (EMI) = Rs. 8,422
- Total Interest Amount = Rs. 54,248
- Total Amount (Principal + Interest) = Rs. 4,04,248
|1||Rs. 78,255||Rs. 22,809||Rs. 271,745|
|2||Rs. 84,122||Rs. 16,942||Rs. 187,623|
|3||Rs. 90,425||Rs. 10,639||Rs. 97,198|
|4||Rs. 97,249||Rs. 3,859||Rs. 0|
Quantum of Finance
- Two Wheeler – Rs. 10.00 lakh.
- New Four Wheeler- Rs.75.00 lakhs
- Old/Second Four Wheeler Vehicle – Rs.10.00 lakh
- Loan shall be sanctioned on Road Price (Cost Of vehicle + Registration Charges+ Insurance + Road Tax). Any additional cost for fancy numbers shall not be financed by Bank.
- Loan Amount Upto Rs.20 lakh – Minimum 10%
- Loan Amount More than Rs.20 lakh – Minimum 20%
- Old Vehicle (Any Loan amount)- Minimum 25%