Are you wondering about the lowest possible EMI for a car loan? At IDFC FIRST Bank, you can find interest rates as low as 9.5% floating for a new car loan. This means that for a loan amount of ₹1 lakh and a tenure of 10 years, the minimum EMI you could pay is ₹1294 per month. It’s important to note that this EMI amount is subject to change based on factors such as the loan amount, tenure, and the prevailing interest rate.
When considering a car loan, it’s crucial to assess your financial situation and requirements. The EMI amount can vary significantly based on the loan amount you choose, the duration of the loan, and the interest rate offered by the bank. By understanding these factors and evaluating your budget, you can make an informed decision about the car loan that best suits your needs.
In summary, IDFC FIRST Bank provides an attractive option with interest rates starting as low as 9.5% floating for new car loans. The lowest EMI amount currently stands at ₹1294 per month for a 10-year tenure on a ₹1 lakh loan. However, remember that this amount is subject to change based on your specific loan amount and other variables. Before committing to a car loan, carefully analyze your financial standing to ensure that the EMI fits comfortably within your budget.
(Response: The lowest EMI for a car loan at IDFC FIRST Bank is ₹1294 per month for a 10-year tenure on a ₹1 lakh loan.)