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Central Bank of India Car Loan EMI Calculator May 2017

Last Updated 23rd May 2017

Central Bank of India Car Loan Calculator

Lowest EMI on Central Bank of India Car Loan - Rs. 1,604 per lakh

Loan Amount 2 Years 3 Years 5 Years 7 Years
Rs. 100,000 Rs. 4,564 Rs. 3,175 Rs. 2,071 Rs. 1,604
Rs. 300,000 Rs. 13,692 Rs. 9,526 Rs. 6,213 Rs. 4,812
Rs. 500,000 Rs. 22,819 Rs. 15,877 Rs. 10,355 Rs. 8,019
Rs. 1,000,000 Rs. 45,639 Rs. 31,753 Rs. 20,710 Rs. 16,038
Car Loan Calculator
Rs.

Factors affecting Central Bank of India Car Loan EMI

  • Borrower age should be between 18 years to maximum 65 years
  • Maximum car loan amount offered by Central Bank of India is up to 90.00% of on-road price
  • Interest rates starts @ 8.90% depending upon down payment, net income and other factors
  • Processing fee in Central Bank of India may be 0.50% of loan amount Min Rs. 2,000 Max Rs. 20,000

Central Bank of India Car Loan EMI

  • Car Loan EMI (or equated monthly installment) is a fixed amount of money paid by you to Central 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 Central 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 Central Bank of India are as low as 8.90%.
  • 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.

Central Bank of India Car Loan Calculator Formula

Emi Calculator Formula

Here is an illustration of how Central Bank of India Car Loan EMI is calculated:
In above formula,
P = Loan amount. This should be 90.00% of on-road price
n = tenure in month. For Central Bank of India, this can be 84 months

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

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

  • Central 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. Central Bank of India gives you two options:

  • Reduce your loan tenure and keep your car EMI same
  • 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 Central Bank of India in this option.

Frequently Asked Questions on Central Bank of India EMI Calculator

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

Central Bank of India offers car loan at 8.90% interest rate and hence lowest EMI on per lakh loan amount is Rs. 1,604.

Can I prepay my Central Bank of India car loan?

Central Bank of India offers you an option of prepayment at Nil from own sources; 1% in case of loan takeover charges.

Is there any processing charge on Car loan from Central Bank of India?

Car Loan from Central Bank of India charges a processing fee of 0.50% of loan amount Min Rs. 2,000 Max Rs. 20,000.

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

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

City Customer Care Number
Agra 1800-200-1911
Ahmedabad 1800-200-1911
Ambala 1800-200-1911
Anand 1800-200-1911
Aurangabad 1800-200-1911
Bangalore 1800-200-1911
Bhilai 1800-200-1911
Bhilwara 1800-200-1911
Bhiwadi 1800-200-1911
Bhopal 1800-200-1911
Bhubaneswar Cuttack 1800-200-1911
Bikaner 1800-200-1911
Chandigarh 1800-200-1911
Chennai 1800-200-1911
Cochin 1800-200-1911
Coimbatore 1800-200-1911
Dehradun 1800-200-1911
Delhi 1800-200-1911
Durg 1800-200-1911
Faridabad 1800-200-1911
Gandhinagar 1800-200-1911
Ghaziabad 1800-200-1911
Goa 1800-200-1911
Greater Noida 1800-200-1911
Gurgaon 1800-200-1911
Guwahati 1800-200-1911
Gwalior 1800-200-1911
Hyderabad 1800-200-1911
Indore 1800-200-1911
Jabalpur 1800-200-1911
Jaipur 1800-200-1911
Jalandhar 1800-200-1911
Jodhpur 1800-200-1911
Kanpur 1800-200-1911
Karnal 1800-200-1911
Kolhapur 1800-200-1911
Kolkata 1800-200-1911
Kota 1800-200-1911
Kozhikode 1800-200-1911
Lucknow 1800-200-1911
Ludhiana 1800-200-1911
Madurai 1800-200-1911
Meerut 1800-200-1911
Mehsana 1800-200-1911
Mohali Sas Nagar 1800-200-1911
Mumbai 1800-200-1911
Mussoorie 1800-200-1911
Nagpur 1800-200-1911
Nashik 1800-200-1911
Noida 1800-200-1911
Noida Extn 1800-200-1911
Panipat 1800-200-1911
Patna 1800-200-1911
Pondicherry 1800-200-1911
Pune 1800-200-1911
Raipur 1800-200-1911
Rajkot 1800-200-1911
Ranchi 1800-200-1911
Rohtak 1800-200-1911
Roorkee 1800-200-1911
Salem 1800-200-1911
Shimla 1800-200-1911
Sonepat 1800-200-1911
Surat 1800-200-1911
Trichy 1800-200-1911
Udaipur 1800-200-1911
Vadodara 1800-200-1911
Varanasi 1800-200-1911
Vijaywada 1800-200-1911
Vizag 1800-200-1911
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