OBC Car Loan EMI Calculator

Lowest EMI Rs. 1655 with Interest Rate at 9.90%, Tenure upto 7 years

OBC Car Loan EMI Calculator

What is OBC Car Loan EMI?

  • car Loan EMI (or equated monthly instalment) is a fixed amount of money paid by you to OBC 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 OBC offering car Loans with loan tenure upto 7 years, the loan EMI can be as low as Rs. 1,655 per lakh, to make it more affordable and convenient to meet your car needs. Rate of interest offered by OBC are as low as 9.90%. You can check EMI for other tenures using our OBC car Loan EMI calculator.
  • 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.

How does Car Loan EMI calculator calculate EMI?

  • This calculator calculates EMI considering a combination of loan amount, interest rate and loan tenure.
  • This 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

OBC Car Loan: Features

Some of the key features of OBC car loan are listed below:

  • Age limit : OBC offers loan to borrowers with minimum age of 18 years and a maximum age of 65 years.
  • Interest Rates : OBC offers competitive interest rates and quick processing of your loan. car loans are offered in the interest rate ranging from 9.90% to 10.05%.
  • Processing fee : OBC offers processing fee 0.50% . Min Rs. 500 Max Rs. 0
  • Prepayment Charges : Under certain schemes, OBC offers Nil.
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