Car Loan EMI Calculator

Purchasing a car is a dream for most people as it can be expensive. One option is EMI on a car loan to ease the purchasing process. The banks and financial institutions provide car loan EMI to the buyers basis on their financial requirements. Through EMI, one pays the borrowed amount (car loan amount) in EMIs with interest across the tenure of the loan. To make the process more approachable, the Bank of Baroda offers car loans a high loan amount at an attractive interest rate payable through easy EMI options for your convenience.

The tool calculates it for you! The EMI due each month on your car loan is ascertained with a mathematical formula:

EMI Amount = [P x R x (1+R) ^N]/[(1+R) ^N-1], wherein P in principle, R is the rate of interest, and N is the number of instalments.

Make calculations easier with the use of the Car Loan EMI Calculator offered by the Bank of Baroda.

Home Loan Eligibility Calculators work based on a mathematical formula that helps evaluate the loan amount you are eligible for. It considers several factors to conduct the calculations. The Bank of Baroda Home Loan Eligibility Calculator requires you to enter basic details like loan amount, tenure, and interest rate.

The calculations are generated after one adds the details of their car loan. Since it is computer-based, the results are accurate and show the real-time EMI amounts.

Using a car loan EMI calculator is very straightforward. All you have to do is enter the pertinent details required, and the EMI amount will be displayed to you. Or you can slide the toggle in front of the fields to change the values.

For instance, if you use the Bank of Baroda car loan EMI calculator, all you have to provide is:

1. The amount borrowed,
2. The rate of interest, and
3. The tenure

You will get to see the EMI amount payable each month within seconds!

You can pay the car loan EMIs via various methods. It is best to check with your concerned bank on the payment methods they accept. Usually, the banks tend to accept cheques, cash, or bank transfers for EMI payments.

1. You can access an online car loan EMI calculator anywhere, anytime
2. It saves you the hassle of visiting a branch or making a call
3. Free of cost and provides accurate results within seconds
4. It also helps you decide how much EMI you can manage each month

A car loan table is also known as an amortisation table. It is a structured account of the car loan and includes details like loan amount, interest rate, tenure, and other factors that affect repayment.

Yes. You can make change your car loan EMI as the loan progresses. You can do so by making a part payment towards the principal amount borrowed. This reduces the EMI amount payable each month, but you might have to pay certain fees.

Here are some reasons why you could choose the Bank of Baroda for a car loan.

1. Bank of Baroda provides up to 90% financing
2. They offer high-value loan amounts at an attractive interest rate
3. Minimal documentation, and
4. The loan amount is processed and disbursed quickly