Car Loan EMI Calculator

Car Loan EMI Calculator is an EMI calculator tool to calculate your car loan installment.

EMI :

0 INR

Total Interest Payable :

0 INR

Total of Payments (Principal + Interest) :

0 INR

Today, Buying a new car & bike is a dream for every dreamer. To bring your dream car or bike to your doorstep with 100% payment is not only a challenge but also you have been a wealthy person.

But you can’t wait to get your dream bike or car just for financial problem.

Wait a minute, what about getting a car or bike loan? Actually, you can get a car loan over EMI with your credit scores. However, you should do proper planning before getting a new car.

Different banks & finance company offers multiple types of loan scheme and EMI offer at a different interest rate and tenure.

So, estimate your monthly budget and EMI plan with our EMI tool with different interest rate & tenure.

How to use Car loan EMI calculator?

The car loan EMI calculator is very easy to use and it’s so simple. The car loan EMI calculator tool instantly calculates the monthly installment based on your loan amount and interest rate.

Enter your loan amount, Interest rate (In percentage) & Tenure, or loan term. Click on “Find EMI” and the result will be shown on the right side of the side widget. You can also slide to adjust the values on the EMI form.

To recalculate another EMI, Just click on reset follow the same process.

Commonly asked question and answer.

 
 

1. What is EMI?
It is basically a payable amount which borrower have to pay to the bank or finance company during the entire tenure. EMI full form stands for Equated Monthly Installment. EMI has to pay monthly on a stipulated date. EMI consists of the principal amount and interest on the loan.

2. How to calculate EMI?
EMI calculation formula is as follows:

Assume, Principal Amount Or Total Loan Amount = P
Rate Of Interest = R
No of monthly installments = N

The formula will be:

3. Benefits of Car loan EMI calculator.
Car loan EMI calculator tool free & straightforward online tool which will help you find your monthly installments.

4. Does Car loan tenure affect the loan installment or EMI?
The answer is very simple ”Yes”. A longer tenure means more time or years. So, The Interest rate will increase and your repayment will also increase. The short-term loan will lower the repayable amount for EMI.

How to pay car loan EMI? You can pay you’re your EMI directly from your bank account. You just need to provide one-time instructions to debit the installment amount directly from your bank account every month.
You can also submit cheques to pay your EMI with the exact amount.

5.What happens if in case miss or skip EMI?
Skipping EMI is considered a default and it will reflect on credit score and It might be trouble to get a loan in the future. Many banks and finance companies will reject your loan application due to defaults in your credit report.
Take borrow from someone & pay on time your car EMI to maintain your credit score stable and good.
If in case you not able to pay EMI on time due to less balance in your account or any other reason, the bank will charge you a late penalty and the loan tenure will get increase.
Frequently skipping the loan EMI will be considered a major default in your account and the bank will market as an NPA (Non-performing Asset), and in that case, the bank might seize your car. Hence, Always clear EMI dues to not get into those kinds of trouble.    

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