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PNB Car Loan EMI Calculator May 2017

Last Updated 11th May 2017

PNB Car Loan Calculator

Lowest EMI on PNB Car Loan - Rs. 1,640 per lakh

Loan Amount 2 Years 3 Years 5 Years 7 Years
Rs. 100,000 Rs. 4,596 Rs. 3,208 Rs. 2,105 Rs. 1,640
Rs. 300,000 Rs. 13,788 Rs. 9,624 Rs. 6,315 Rs. 4,919
Rs. 500,000 Rs. 22,980 Rs. 16,040 Rs. 10,525 Rs. 8,198
Rs. 1,000,000 Rs. 45,961 Rs. 32,080 Rs. 21,051 Rs. 16,395
Car Loan Calculator
Rs.

Factors affecting PNB Car Loan EMI

• Borrower age should be between 21 years to maximum 65 years
• Maximum car loan amount offered by PNB is up to 85.00% of on-road price
• Interest rates starts @ 9.60% depending upon down payment, net income and other factors
• Processing fee in PNB may be 1.00% of loan amount Max Rs. 6,000

PNB Car Loan EMI

• Car Loan EMI (or equated monthly installment) is a fixed amount of money paid by you to PNB 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 PNB 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 PNB are as low as 9.60%.
• 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.

PNB Car Loan Calculator Formula

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

Car Loan EMI Calculator PNB - How it works?

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

• PNB 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. PNB 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 PNB in this option.

Frequently Asked Questions on PNB EMI Calculator

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

PNB offers car loan at 9.60% interest rate and hence lowest EMI on per lakh loan amount is Rs. 1,640.

Can I prepay my PNB car loan?

PNB offers you an option of prepayment at Nil charges.

Is there any processing charge on Car loan from PNB?

Car Loan from PNB charges a processing fee of 1.00% of loan amount Max Rs. 6,000.

PNB Car Loan Calculator Customer Care Number, Email, Application Status, Branches

City Customer Care Number
Agra 011-23318130, rad [at] pnb [dot] co [dot] in
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