Car Loan EMI Calculator
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How To Use Car Finance EMI Calculator?
Tata Capital’s Car Finance EMI Calculator is here to make your journey hassle-free.
- 1. Enter the loan amount
- 2. Select the loan tenure
- 3. Input the interest rate
- 4. Check your EMI
How to calculate car finance EMI?
You can calculate your EMI with a simple formula:
E = [P × R × (1+R) ˄N] / [(1+R) ˄ (N-1)]
Where,
P = Principal Amount
R = Rate of interest
N = Tenure of loan in months
Benefits of Car EMI Calculator
- Flexible Tenure : With Tata Capital’s car loan, you have the flexibility to choose a repayment tenure of up to 84 months. It allows you to spread your EMI payments over an extended tenure and repay them at your own convenience.
- Quick Processing : At Tata Capital, we ensure that you won’t have to wait for long to buy your dream car. You can apply for our car loan online by filling out a simple application form and uploading the bare minimum documents. Upon approval, you will get the required finances in your bank account within few working days.
- Flexi EMI Options : At Tata Capital, you have the option to customize your car loan EMIs according to your convenience. You can increase or decrease your car loan tenure to ensure that your EMIs remain affordable and you can pay them comfortably.
- Competitive Interest Rates : With Tata Capital, you can get the required financing to pay for your dream car at highly competitive interest rates. Our car loan interest rates are among the lowest in the market. You can use our car loan EMI calculator to know your EMIs in advance and make the best decision.
- Instant Approval : You can get instant approval by applying for a car loan online at the Tata Capital website. We will verify your documents and disburse the loan amount directly to your bank account, ensuring a quick and hassle-free process.
FAQs On Car Loan Calculator
Can I avail myself a car loan to buy a used vehicle?
Is the car loan EMI calculator based on a fixed or floating rate of interest?
The car loan EMI calculator on Tata Capital’s website is based on a fixed interest rate.
Can my car loan EMI be changed?
Tata Capital offers flexible repayment options, but the EMI amount generally remains fixed. Any changes to the EMI may depend on loan restructuring or part-prepayment.
What should be done after paying the last car loan EMI?
After paying the last EMI, ensure you receive the No Dues Certificate and request the lien release for the vehicle from Tata Capital.
What factors affect car loan EMI?
Car loan EMI is affected by the loan amount, interest rate, and loan tenure. A higher loan amount or interest rate results in higher EMIs
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