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# Bank of India Car Loan EMI Calculator Apr 2017

Last Updated 24th Apr 2017

## Bank of India Car Loan Calculator

Lowest EMI on Bank of India Car Loan - Rs. 1,627 per lakh

Loan Amount 2 Years 3 Years 5 Years 7 Years
Rs. 100,000 Rs. 4,585 Rs. 3,196 Rs. 2,093 Rs. 1,627
Rs. 300,000 Rs. 13,754 Rs. 9,589 Rs. 6,279 Rs. 4,880
Rs. 500,000 Rs. 22,923 Rs. 15,981 Rs. 10,464 Rs. 8,134
Rs. 1,000,000 Rs. 45,846 Rs. 31,963 Rs. 20,929 Rs. 16,267
Car Loan Calculator
Rs.

### Factors affecting Bank of India Car Loan EMI

• Borrower age should be between 18 years to maximum 65 years
• Maximum car loan amount offered by Bank of India is up to 85.00% of on-road price
• Interest rates starts @ 9.35% depending upon down payment, net income and other factors

### Bank of India Car Loan EMI

• Car Loan EMI (or equated monthly installment) is a fixed amount of money paid by you to Bank of India against the loan taken. This is towards repayment of your loan to the bank. Every month, it is due on a fixed day of the month till your loan is fully paid back.
• With Bank of India offering car Loans with loan tenure upto 84 years, the loan EMI can be as low as Rs. 1 per lakh, to make it more affordable and convenient to meet your car needs. Rate of interest offered by Bank of India are as low as 9.35%.
• This EMI consists of both interest payment and principal repayment. Though the EMI amount will remain constant, the principal component keeps increasing and on the other hand the interest component keeps reducing.

### Bank of India Car Loan Calculator Formula

Here is an illustration of how Bank of India Car Loan EMI is calculated:
In above formula,
P = Loan amount. This should be 85.00% of on-road price
n = tenure in month. For Bank of India, this can be 84 months

### Car Loan EMI Calculator Bank of India - How it works?

Bank of India Car loan calculator calculates EMI considering a combination of loan amount, interest rate and loan tenure.

• Bank of India Car loan calculator considers “reducing balance basis” and assumes that payment of EMI is made in arrears (means interest is charged for the month preceding the EMI payment date) and not in advance.

### Car Loan EMI – EMI changes in case of prepayment

In case you prepay your car loan, the outstanding balance on your car loan reduces. Bank of India gives you two options:

• Reduce the amount of EMI and keep your loan tenure same

It is better to keep the EMI constant and reduce the loan tenure as you pay less interest to the Bank of India in this option.

#### Frequently Asked Questions on Bank of India EMI Calculator

What is the lowest EMI per lakh offered by Bank of India on Car loan?

Bank of India offers car loan at 9.35% interest rate and hence lowest EMI on per lakh loan amount is Rs. 1,627.

Can I prepay my Bank of India car loan?

Bank of India offers you an option of prepayment at Nil charges.

#### Bank of India Car Loan Calculator Customer Care Number, Email, Application Status, Branches

City Customer Care Number
Agra 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Ahmedabad 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Ambala 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Anand 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Aurangabad 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Bangalore 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Bhilai 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Bhilwara 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Bhiwadi 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Bhopal 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Bhubaneswar Cuttack 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Bikaner 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Chandigarh 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Chennai 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Cochin 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Coimbatore 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Dehradun 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Delhi 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Durg 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Faridabad 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Gandhinagar 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Ghaziabad 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Goa 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Greater Noida 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Gurgaon 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Guwahati 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Gwalior 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Hyderabad 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Indore 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Jabalpur 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Jaipur 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Jalandhar 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Jodhpur 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Kanpur 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Karnal 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Kolhapur 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Kolkata 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Kota 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Kozhikode 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Lucknow 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Ludhiana 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Madurai 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Meerut 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Mehsana 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Mohali Sas Nagar 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Mumbai 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Mussoorie 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Nagpur 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Nashik 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Noida 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Noida Extn 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Panipat 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Patna 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Pondicherry 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Pune 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Raipur 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Rajkot 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Ranchi 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Rohtak 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Roorkee 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Salem 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Shimla 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Sonepat 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Surat 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Trichy 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Udaipur 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Vadodara 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Varanasi 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Vijaywada 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in
Vizag 1800-103-1906/ 022-40919191, ho.customerservice [at] bankofindia [dot] co [dot] in

Bank of India Car Loan News - Apr 2017
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