Business Business: Loan of Rs 10 thousand to buy a car at the end of the year There are only a few days left for the end of 2024. Many car manufacturers today offer year-end discounts on their models. This will save lakhs of rupees on cars. In such a situation, if you are also planning to buy a car this month and want to take a loan of up to Rs 10 lakh for that, then we will tell you about the EMI of that loan. You should remember that the loan is available only on the basis of the ex-showroom price of the vehicle. You have to pay expenses like insurance and RTO.
Here we are telling 4 conditions of 10 lakh. This condition depends on the interest rate and loan period. These include calculations with interest rates of 8.5%, 9%, 9.5% and 10%.
If a loan of Rs 10 lakh is taken at an interest rate of 8.5%, then its EMI for 7 years will be Rs 15,836, for 6 years its EMI will be Rs 17,778, for 5 years its EMI will be Rs 20,517, for 4 years its EMI will be Rs 18,026, for 5 years its EMI will be Rs 20,758, for 4 years its EMI will be Rs 24,885 and for 3 years its EMI will be Rs 31,800.
If a loan of Rs 10 lakh is taken at an interest rate of 9.5%, then its EMI for 7 years will be Rs 16,344, for 6 years its EMI will be Rs 18,275, for 5 years its EMI will be Rs 21,002, for 3 years. Year is Rs 25,123 and Rs 32,033.
