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Karnataka Bank Car Loan EMI Calculator Apr 2017

Last Updated 28th Apr 2017

Karnataka Bank Car Loan Calculator

Lowest EMI on Karnataka Bank Car Loan - Rs. 2,137 per lakh

Loan Amount 2 Years 3 Years 5 Years
Rs. 100,000 Rs. 4,626 Rs. 3,238 Rs. 2,137
Rs. 300,000 Rs. 13,878 Rs. 9,715 Rs. 6,411
Rs. 500,000 Rs. 23,130 Rs. 16,192 Rs. 10,685
Rs. 1,000,000 Rs. 46,260 Rs. 32,385 Rs. 21,370
Car Loan Calculator
Rs.

Factors affecting Karnataka Bank Car Loan EMI

• Borrower age should be between 0 years to maximum 0 years
• Maximum car loan amount offered by Karnataka Bank is up to 85.00%
• Interest rates starts @ 10.25% depending upon down payment, net income and other factors
• Processing fee in Karnataka Bank may be 0.25% of loan amount Min Rs. 250 Max Rs. 1,000

Karnataka Bank Car Loan EMI

• Car Loan EMI (or equated monthly installment) is a fixed amount of money paid by you to Karnataka 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 Karnataka Bank offering car Loans with loan tenure upto 60 years, the loan EMI can be as low as Rs. 2 per lakh, to make it more affordable and convenient to meet your car needs. Rate of interest offered by Karnataka Bank are as low as 10.25%.
• 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.

Karnataka Bank Car Loan Calculator Formula

Here is an illustration of how Karnataka Bank Car Loan EMI is calculated:
In above formula,
P = Loan amount. This should be 85.00%
n = tenure in month. For Karnataka Bank, this can be 60 months

Car Loan EMI Calculator Karnataka Bank - How it works?

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

• Karnataka 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. Karnataka 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 Karnataka Bank in this option.

Frequently Asked Questions on Karnataka Bank EMI Calculator

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

Karnataka Bank offers car loan at 10.25% interest rate and hence lowest EMI on per lakh loan amount is Rs. 2,137.

Can I prepay my Karnataka Bank car loan?

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

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

Car Loan from Karnataka Bank charges a processing fee of 0.25% of loan amount Min Rs. 250 Max Rs. 1,000.

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

City Customer Care Number
Agra 0824-2228154
Ambala 0824-2228154
Anand 0824-2228154
Bangalore 0824-2228154
Bhilai 0824-2228154
Bhilwara 0824-2228154
Bhopal 0824-2228154
Bhubaneswar Cuttack 0824-2228154
Bikaner 0824-2228154
Chandigarh 0824-2228154
Chennai 0824-2228154
Cochin 0824-2228154
Coimbatore 0824-2228154
Delhi 0824-2228154
Durg 0824-2228154
Gandhinagar 0824-2228154
Goa 0824-2228154
Greater Noida 0824-2228154
Gurgaon 0824-2228154
Guwahati 0824-2228154
Gwalior 0824-2228154
Indore 0824-2228154
Jabalpur 0824-2228154
Jaipur 0824-2228154
Jalandhar 0824-2228154
Jodhpur 0824-2228154
Kanpur 0824-2228154
Karnal 0824-2228154
Kolhapur 0824-2228154
Kolkata 0824-2228154
Kota 0824-2228154
Kozhikode 0824-2228154
Lucknow 0824-2228154
Ludhiana 0824-2228154
Meerut 0824-2228154
Mehsana 0824-2228154
Mohali Sas Nagar 0824-2228154
Mumbai 0824-2228154
Mussoorie 0824-2228154
Nagpur 0824-2228154
Nashik 0824-2228154
Noida 0824-2228154
Noida Extn 0824-2228154
Panipat 0824-2228154
Patna 0824-2228154
Pondicherry 0824-2228154
Pune 0824-2228154
Raipur 0824-2228154
Rajkot 0824-2228154
Ranchi 0824-2228154
Rohtak 0824-2228154
Roorkee 0824-2228154
Salem 0824-2228154
Shimla 0824-2228154
Sonepat 0824-2228154
Surat 0824-2228154
Trichy 0824-2228154
Udaipur 0824-2228154