A Car Loan EMI is the Equated Monthly Instalments that the borrower is liable to pay on a stipulated date every month during the entire tenure of the loan. The calculation is the summation of the principal amount and the interest amount repayable by the borrower to the lender. The utilisation of a Car Loan Calculator, you can ascertain the EMIs beforehand to be repaid month on month.
How to calculate EMI on a car loan?
All you need to do is enter the required Car Loan amount, select the duration of your Car Loan with the interest rate and our Auto Loan EMI Calculator will calculate the EMI on your Car Loan and give you a graphical analysis of the loan repayment schedule entered within the Car Loan Calculator.
What is a car loan calculator?
The calculator also allows you to view the various segments of the repayment value, individually and helps in determining your car loan eligibility. It presents a break of the total payable amount into the loan amount, total interest amount payable and the processing fee.
Is there any EMI calculator available for prepayment?
Yes. Feed in the details of the outstanding balance principal and the tenure (provided by the bank on such prepayment). The EMI calculator will help you calculate your EMI for the outstanding balance period.