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Corporation Bank Car Loan EMI Calculator Jun 2017

Last Updated 15th Jun 2017

Corporation Bank Car Loan EMI Calculator

Lowest EMI on Corporation Bank Car Loan - Rs. 1,617 per lakh

Loan Amount 2 Years 3 Years 5 Years 7 Years
Rs. 100,000 Rs. 4,575 Rs. 3,187 Rs. 2,083 Rs. 1,617
Rs. 300,000 Rs. 13,726 Rs. 9,561 Rs. 6,249 Rs. 4,850
Rs. 500,000 Rs. 22,877 Rs. 15,935 Rs. 10,416 Rs. 8,083
Rs. 1,000,000 Rs. 45,754 Rs. 31,870 Rs. 20,831 Rs. 16,165
Car Loan Calculator
Rs.

Factors affecting Corporation Bank Car Loan EMI

  • Borrower age should be between 21 years to maximum 65 years
  • Maximum car loan amount offered by Corporation Bank is up to 85.00% of ex-showroom price
  • Interest rates starts @ 9.15% depending upon down payment, net income and other factors

Corporation Bank Car Loan EMI

  • Car Loan EMI (or equated monthly installment) is a fixed amount of money paid by you to Corporation Bank 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 Corporation Bank 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 Corporation Bank are as low as 9.15%.
  • 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.

Corporation Bank Car Loan Calculator Formula

Emi Calculator Formula

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

Car Loan EMI Calculator Corporation Bank - How it works?

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

  • Corporation Bank 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. Corporation Bank 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 Corporation Bank in this option.

Frequently Asked Questions on Corporation Bank EMI Calculator

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

Corporation Bank offers car loan at 9.15% interest rate and hence lowest EMI on per lakh loan amount is Rs. 1,617.

Can I prepay my Corporation Bank car loan?

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

Corporation Bank Car Loan Customer Care Number, Email, Application Status, Branches

Corporation Bank Car Loan Calculator Customer Care Number, Email, Application Status, Branches

City Customer Care Number
Agra 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Ahmedabad 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Ambala 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Anand 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Aurangabad 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Bangalore 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Bhilai 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Bhilwara 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Bhiwadi 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Bhopal 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Bhubaneswar Cuttack 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Bikaner 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Chandigarh 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Chennai 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Cochin 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Coimbatore 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Dehradun 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Delhi 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Durg 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Faridabad 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Gandhinagar 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Ghaziabad 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Goa 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Greater Noida 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Gurgaon 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Guwahati 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Gwalior 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Hyderabad 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Indore 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Jabalpur 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Jaipur 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Jalandhar 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Jodhpur 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Kanpur 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Karnal 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Kolhapur 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Kolkata 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Kota 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Kozhikode 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Lucknow 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Ludhiana 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Madurai 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Meerut 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Mehsana 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Mohali Sas Nagar 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Mumbai 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Mussoorie 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Nagpur 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Nashik 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Noida 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Noida Extn 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Panipat 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Patna 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Pondicherry 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Pune 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Raipur 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Rajkot 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Ranchi 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Rohtak 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Roorkee 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Salem 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Shimla 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Sonepat 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Surat 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Trichy 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Udaipur 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Vadodara 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Varanasi 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Vijaywada 1800-425-2407, horls [at] corpbank [dot] co [dot] in
Vizag 1800-425-2407, horls [at] corpbank [dot] co [dot] in
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