How can I reduce my HDFC car loan interest rate?
Opting for a longer tenure will automatically bring down your EMI. For example, you will pay an EMI of Rs 2028 for a 5-year loan of Rs 1 lakh at 8% interest. But if you extend the tenure to 7 years, you can bring down the EMI by almost 25% to Rs 1559. HDFC Bank offers flexible tenures of up to 7 years.
What is the EMI for 8 lakhs car loan?
Repayment or Maximum Number of EMI
| Loan amount | Interest Rate | EMI for 7 Years |
|---|---|---|
| 5 Lakh | 9.00% | ₹ 8044.54 |
| 6 Lakh | 9.00% | ₹ 9653.45 |
| 7 Lakh | 9.00% | ₹ 11262.35 |
| 8 Lakh | 9.00% | ₹ 12871.26 |
Is HDFC car loan fixed or floating?
Car Loan EMI of HDFC Bank is a fixed amount that you pay each month towards the repayment of your car loan till the end of tenure. Lowest EMI offered by HDFC Bank is ₹ 1,860 per lakh loan amount at lowest car loan interest rate of 8.65%.
Can I get car loan for 10 years?
What is the tenure of the car loan? With IDFC FIRST Bank, you have the flexibility to choose a tenure that suits your car finance budget. We offer tenure of up to 10 years, subject to certain conditions. Our representative can work with you to establish the right tenure for your application.
What car payment can I get on 15000 salary?
Salary of 15000, Am I eligible for Loan? Check here online
| Product | Salary | Min. loan amount |
|---|---|---|
| Personal Loan | 15000 | 40000 |
| Home Loan | 15000 | 300000 |
| Car Loan | 15000 | 100000 |
| Credit Card | 15000 |
Is car loan fixed or floating?
Car loan is offered on fixed as well as floating rate by the lenders these days. Floating rate, however, was available on home loan only in the earlier times. But now lenders like ICICI Bank, SBI and a few others are offering car loan on floating rate.