Car Loan EMI Calculator: Owning a car is no longer a luxury but a necessity today. A car provides more safety than a two-wheeler and shields you from the elements, be it heat, cold, or rain. If you don't own a car, you can consider purchasing a new or used one based on your budget by taking out a Car loan. Various banks and non-banking financial institutions (NBFCs) offer loans for both new and used cars. Jagran's Car Loan Calculator helps you determine the EMI you must pay at a specific interest rate for a fixed period, based on the loan amount.
Using the car loan calculator, you can easily determine the monthly EMI for your car loan. Simply enter the loan amount, loan tenure, and interest rate into the calculator. It will then calculate your monthly EMI and provide information on the total interest you will pay over the loan term.
To calculate the car loan EMI, you will need to input the following details into the free of cost Jagran Car Loan Calculator online:
- Loan Amount: The car loan amount depends on the car's price and your eligibility. Typically, car loans range from Rs 1,00,000 to Rs 40,00,000.
- Loan Tenure: The loan tenure can vary from 1 to 7 years.
- Interest Rate: Car loan interest rates vary between banks. The interest rate for a new car differs from that of a used car, with the latter generally being higher. You can enter the estimated or actual interest rate in the calculator.