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IDBI Bank Car Loan EMI Calculator Apr 2017

Last Updated 26th Apr 2017

IDBI Bank Car Loan Calculator

Lowest EMI on IDBI Bank Car Loan - Rs. 1,658 per lakh

Loan Amount 2 Years 3 Years 5 Years 7 Years
Rs. 100,000 Rs. 4,612 Rs. 3,224 Rs. 2,122 Rs. 1,658
Rs. 300,000 Rs. 13,837 Rs. 9,673 Rs. 6,367 Rs. 4,973
Rs. 500,000 Rs. 23,061 Rs. 16,122 Rs. 10,611 Rs. 8,288
Rs. 1,000,000 Rs. 46,122 Rs. 32,244 Rs. 21,222 Rs. 16,575
Car Loan Calculator
Rs.

Factors affecting IDBI Bank Car Loan EMI

  • Borrower age should be between 18 years to maximum 70 years
  • Maximum car loan amount offered by IDBI Bank is up to 90.00% of ex-showroom price
  • Interest rates starts @ 9.95% depending upon down payment, net income and other factors

IDBI Bank Car Loan EMI

  • Car Loan EMI (or equated monthly installment) is a fixed amount of money paid by you to IDBI 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 IDBI 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 IDBI Bank are as low as 9.95%.
  • 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.

IDBI Bank Car Loan Calculator Formula

Emi Calculator Formula

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

Car Loan EMI Calculator IDBI Bank - How it works?

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

  • IDBI 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. IDBI 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 IDBI Bank in this option.

Frequently Asked Questions on IDBI Bank EMI Calculator

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

IDBI Bank offers car loan at 9.95% interest rate and hence lowest EMI on per lakh loan amount is Rs. 1,658.

Can I prepay my IDBI Bank car loan?

IDBI Bank offers you an option of prepayment at No prepayment allowed for 6 months; 1% foreclosure charges.

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

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

City Customer Care Number
Agra 1800-200-1947
Ahmedabad 1800-200-1947
Ambala 1800-200-1947
Anand 1800-200-1947
Aurangabad 022 2207 8732
Bangalore 080 2238 6757
Bhilai 1800-200-1947
Bhilwara 1800-200-1947
Bhiwadi 1800-200-1947
Bhopal 1800-200-1947
Bhubaneswar Cuttack 1800-200-1947
Bikaner 1800-200-1947
Chandigarh 1800-200-1947
Chennai 044 4303 6648
Cochin 1800-200-1947
Coimbatore 1800-200-1947
Dehradun 1800-200-1947
Delhi 011 2399 4348
Durg 011 2399 4348
Faridabad 011 2399 4348
Gandhinagar 022 2207 8732
Ghaziabad 0120 270 0798
Goa 0832 242 6525
Greater Noida 0120 270 0798
Gurgaon 0120 270 0798
Guwahati 1800-200-1947
Gwalior 1800-200-1947
Hyderabad 040 6690 8171
Indore 1800-200-1947
Jabalpur 1800-200-1947
Jaipur 1800-200-1947
Jalandhar 1800-200-1947
Jodhpur 1800-200-1947
Kanpur 022 2207 8732
Karnal 1800-200-1947
Kolhapur 022 2207 8732
Kolkata 033 2568 6253
Kota 1800-200-1947
Kozhikode 1800-200-1947
Lucknow 1800-200-1947
Ludhiana 1800-200-1947
Madurai 1800-200-1947
Meerut 1800-200-1947
Mehsana 1800-200-1947
Mohali Sas Nagar 1800-200-1947
Mumbai 022 2207 8732
Mussoorie 1800-200-1947
Nagpur 022 2207 8732
Nashik 022 2207 8732
Noida 0120 270 0798
Noida Extn 0120 270 0798
Panipat 1800-200-1947
Patna 1800-200-1947
Pondicherry 1800-200-1947
Pune 020 6603 0300
Raipur 1800-200-1947
Rajkot 1800-200-1947
Ranchi 1800-200-1947
Rohtak 1800-200-1947
Roorkee 1800-200-1947
Salem 044 4303 6648
Shimla 1800-200-1947
Sonepat 1800-200-1947
Surat 1800-200-1947
Trichy 1800-200-1947
Udaipur 1800-200-1947
Vadodara 1800-200-1947
Varanasi 1800-200-1947
Vijaywada 1800-200-1947
Vizag 1800-200-1947
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IDBI Car Loan News - Apr 2017
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