How much EMI will have to be paid on a car loan of 800000 from HDFC Bank

Almost every person dreams of buying his own car. Every person wants to have his own car but buying a car is not an easy task. Lakhs of rupees are needed to buy a car, which is a huge amount. In such a situation, for common people, their entire life's earnings are spent in buying a car.

Many people also buy a car by taking a car loan from the bank. However, by taking a car on loan, you have to pay extra money, which is in the form of interest.

Today we are going to tell you about the car loan of HDFC Bank, one of the largest private banks in the country. Let's know.

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HDFC Bank Car Loan Interest Rates

Talking about the interest rates of HDFC Bank's car loan, this bank offers car loans to its customers at an initial interest rate of 9.40 percent. At the same time, these interest rates can change according to your CIBIL score.

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EMI Monthly on a car loan of 800000 from HDFC

If you take a car loan of 8 lakhs from HDFC Bank for a full 5 years, then you will have to pay Rs 16,792 every month as EMI at an interest rate of 9.40 percent. In such a situation, in the entire 5 years, you will pay a total of Rs 10,05,745 to the bank, out of which only Rs 2,05,745 will be your interest.