IDBI Bank Car Loan EMI Calculator Aug 2017
IDBI Bank Car Loan EMI 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|
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
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
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|
|Aurangabad||022 2207 8732|
|Bangalore||080 2238 6757|
|Chennai||044 4303 6648|
|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|
|Hyderabad||040 6690 8171|
|Kanpur||022 2207 8732|
|Kolhapur||022 2207 8732|
|Kolkata||033 2568 6253|
|Mohali Sas Nagar||1800-200-1947|
|Mumbai||022 2207 8732|
|Nagpur||022 2207 8732|
|Nashik||022 2207 8732|
|Noida||0120 270 0798|
|Noida Extn||0120 270 0798|
|Pune||020 6603 0300|
|Salem||044 4303 6648|