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Indian Bank Car Loan EMI Calculator May 2017

Last Updated 24th May 2017

Indian Bank Car Loan Calculator

Lowest EMI on Indian 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 Indian Bank Car Loan EMI

• Borrower age should be between 21 years to maximum 65 years
• Maximum car loan amount offered by Indian Bank is up to 85.00% of on-road price
• Interest rates starts @ 9.95% depending upon down payment, net income and other factors
• Processing fee in Indian Bank may be 0.22% of loan amount Max Rs. 10,191

Indian Bank Car Loan EMI

• Car Loan EMI (or equated monthly installment) is a fixed amount of money paid by you to Indian 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 Indian 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 Indian 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.

Indian Bank Car Loan Calculator Formula

Here is an illustration of how Indian Bank 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 Indian Bank, this can be 84 months

Car Loan EMI Calculator Indian Bank - How it works?

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

• Indian 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. Indian Bank 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 Indian Bank in this option.

Frequently Asked Questions on Indian Bank EMI Calculator

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

Indian 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 Indian Bank car loan?

Indian Bank offers you an option of prepayment at Not allowed charges.

Is there any processing charge on Car loan from Indian Bank?

Car Loan from Indian Bank charges a processing fee of 0.22% of loan amount Max Rs. 10,191.

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

City Customer Care Number
Noida 011-27411133
Nashik 022-28955858
Mumbai 022-28955858
Mussoorie 1800-425-00-000
Nagpur 022-28955858
Meerut 1800-425-00-000
Mehsana 1800-425-00-000
Mohali Sas Nagar 1800-425-00-000
Ludhiana 1800-425-00-000
Kozhikode 1800-425-00-000
Lucknow 1800-425-00-000
Kolhapur 022-28955858
Kolkata 033-25736571
Kota 1800-425-00-000
Jalandhar 1800-425-00-000
Jodhpur 1800-425-00-000
Karnal 1800-425-00-000
Jaipur 1800-425-00-000
Kanpur 1800-425-00-000
Indore 1800-425-00-000
Jabalpur 1800-425-00-000
Gurgaon 011-27411133
Guwahati 1800-425-00-000
Gwalior 1800-425-00-000
Gandhinagar 1800-425-00-000
Greater Noida 011-27411133
Goa 1800-425-00-000
Delhi 011-27411133
Durg 1800-425-00-000
Chandigarh 1800-425-00-000
Coimbatore 044-24413430
Cochin 1800-425-00-000
Chennai 044-24413430
Bhopal 1800-425-00-000
Bhubaneswar Cuttack 1800-425-00-000
Bikaner 1800-425-00-000
Bangalore 080-22958809
Bhilai 1800-425-00-000
Bhilwara 1800-425-00-000
Ambala 1800-425-00-000
Anand 1800-425-00-000
Agra 1800-425-00-000
Noida Extn 011-27411133
Panipat 1800-425-00-000
Patna 1800-425-00-000
Pondicherry 1800-425-00-000
Pune 022-28955858
Raipur 1800-425-00-000
Rajkot 1800-425-00-000
Ranchi 1800-425-00-000
Rohtak 1800-425-00-000
Roorkee 1800-425-00-000
Salem 044-24413430
Shimla 1800-425-00-000
Sonepat 1800-425-00-000
Surat 1800-425-00-000
Trichy 044-24413430
Udaipur 1800-425-00-000