Car Loan EMI Calculator – SBI, HDFC, Axis, ICICI Bank, PNB
Car loan emi calculator: Calculate your emi in 3 easy steps within seconds on the basis of Interest rates, loan amount & No. of repayment period/tenure at emicalculator-India.com.
Everyone gets excited to buy the car and I am sure you would have the same feeling as its possession brings a great deal of happiness and satisfaction. Also, buying the car is not easy as one has to accumulate savings over the years and make a whole lot of sacrifices like cutting down the expenses on dining at costly restaurants, movies, etc. Cars are mostly purchased on the loan extended by banks across India. The list of banks include State Bank of India (SBI), HDFC Bank, ICICI Bank, Axis Bank, among others. But before you step out to take loan for buying the car, make sure you keep in mind financial aspects like equated monthly installments (EMIs), rate of interest, loan tenure, etc. Understanding the mathematics of all such aspects will help you choose the right car. We will demonstrate the car loan EMI calculator showing the car loan interest rate, monthly installments, interest amount, etc that you will have to pay on borrowed money from various banks to buy the car. So get ready to assess your financial viability to buy the car from the information stated below.
Car Loan – Quick, Easy & Instant Online Approval
Basic details of car loan
- Car loan given up to 85-90% of the ex-showroom price
- Ex-showroom price includes the charges that the dealer pays to obtain the car from the manufacturer and excise duty paid by it to the state government on the purchase.
- On-road price of the car is the sum of ex-showroom price, RTO and insurance
- Loan tenure ranges 3-7 years
- Minimum take home salary or income is Rs 2.4 lacs per annum
- Total job experience of 2 years
- At least one year of experience with the current employer
- If you are a self-employed self-professional, you need to be in the business for at least three years
- Minimum annual income for salaried and self-employed professionals are 2.4 lacs and 4 lacs, respectively
Car Loan EMI Calculator
Calculate your car loan emi with the help of emi calculator.
Affordable cars
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You can choose from a list of affordable cars priced in the range of Rs 3-6 lacs. The list includes Renault Kwid, Maruti Suzuki Swift, Maruti Suzuki Celerio, Maruti Suzuki Ritz, Maruti Suzuki Wagon R, Hyundai Grand I10, Hyundai i10, Ford Figo, Tata Indica eV2, Nissan Micra, among others. We will discuss in-depth regarding the ex-showroom prices, fees and charges as well as the EMIs that you will have to pay on loan that you will take from banks to buy the cars mentioned above. First start with Renault Kwid, the most affordable car of the lot.
Renault Kwid
- Ex-showroom price-Rs Rs 2,62,113 (New Delhi)
- Registration charges-Rs 13,198
- Insurance-Rs 10,768
- On-road price-Rs 2,96,749
- Extended warranty-Rs 10,670
- Down Payment-Rs 30K-35K
Table showing EMI calculator on Renault Kwid on take home salary of Rs 20,000 per month
Banks | Min Loan | Max Loan | Max Tenure | Rate of Interest | EMI | Total Interest | Total Amount |
SBI | Rs 1 lac | Rs 2.23 lacs | 5 years | 8.70% | Rs 4,597 | Rs 52,830 | Rs 2,75,803 |
ICICI Bank | Rs 1 lac | Rs 1.9 lacs | 5 years | 10.00% | Rs 4,037 | Rs 52,216 | Rs 2,42,216 |
HDFC Bank | Rs 1 lac | Rs 2.3 lacs | 5 years | 9.00% | Rs 4,774 | Rs 56,465 | Rs 2,86,465 |
Axis Bank | Rs 1 lac | Rs 2.4 lacs | 5 years | 11.00% | Rs 5,218 | Rs 73,091 | Rs 3,13,091 |
Note- EMIs, rate of interest, maximum loan and tenure will differ according to the income and repayment capacity. Also the loan tenure can increase depending upon your income.
Maruti Suzuki Celerio
- Ex-showroom Price- Rs 4,03,139 (New Delhi)
- Registration Charges-Rs 16,126
- Insurance-Rs 14,110
- On Road price-Rs 4,33,375
- Down Payment-Rs 40314
Table showing EMI calculator on Maruti Suzuki Celerio on take home salary of Rs 20,000 per month
Banks | Min Loan | Max Loan | Max Tenure | Rate of Interest | EMI | Total Interest | Total Amount |
SBI | Rs 1 lac | Rs 3.42 lacs | 5 years | 8.70% | Rs 7,050 | Rs 80,980 | Rs 4,22,980 |
ICICI Bank | Rs 1 lac | Rs 2.9 lacs | 5 years | 10.00% | Rs 6,162 | Rs 79,699 | Rs 3,69,699 |
HDFC Bank | Rs 1 lac | Rs 3.4 lacs | 5 years | 9.00% | Rs 7,058 | Rs 83,470 | Rs 4,23,470 |
Axis Bank | Rs 1 lac | Rs 3.7 lacs | 5 years | 11.00% | Rs 8,045 | Rs 1,12,682 | Rs 4,82,682 |
Note- EMIs, rate of interest, maximum loan and tenure will differ according to the income and repayment capacity. Also the loan tenure can increase depending upon your income.
Maruti Suzuki Swift
- Ex-showroom price-Rs 4,71, 613 (New Delhi)
- Registration Charges-Rs 18, 865
- Insurance-Rs 16,506
- On-road price-Rs 5,06,984
- Down Payment-Rs 47,161
Table showing EMI calculator on Maruti Suzuki Swift on take home salary of Rs 20,000 per month
Banks | Min Loan | Max Loan | Max Tenure | Rate of Interest | EMI | Total Interest | Total Amount |
SBI | Rs 1 lac | Rs 4.24 lacs | 5 years | 8.70% | Rs 8,740 | Rs 1,00,396 | Rs 5,24,396 |
ICICI Bank | Rs 1 lac | Rs 3.6 lacs | 5 years | 10.00% | Rs 7,649 | Rs 98,936 | Rs 4,58,936 |
HDFC Bank | Rs 1 lac | Rs 3.85 lacs | 5 years | 9.00% | Rs 7,992 | Rs 94,518 | Rs 4,79,518 |
Axis Bank | Rs 1 lac | Rs 4.3 lacs | 5 years | 11.00% | Rs 9,349 | Rs 1,30,955 | Rs 5,60,955 |
Note- EMIs, rate of interest, maximum loan and tenure will differ according to the income and repayment capacity. Also the loan tenure can increase depending upon your income.
Hyundai Grand i10
- Ex-showroom Price-Rs 5,04,456 (New Delhi)
- Registration Charges-Rs 20,178
- Insurance-Rs 17,656
- On Road price-Rs 5,42,290
- Down Payment-Rs 48477
Table showing EMI calculator on Hyundai Grand i10 on take home salary of Rs 20,000 per month
Banks | Min Loan | Max Loan | Max Tenure | Rate of Interest | EMI | Total Interest | Total Amount |
SBI | Rs 1 lac | Rs 4,28 lacs | 5 years | 8.70% | Rs 8,822 | Rs 1,01,343 | Rs 5,29,343 |
ICICI Bank | Rs 1 lac | Rs 3.8 lacs | 5 years | 10.00% | Rs 8,074 | Rs 1,04,433 | Rs 4,84,433 |
HDFC Bank | Rs 1 lac | Rs 4.05 lacs | 5 years | 9.00% | Rs 8,407 | Rs 99,428 | Rs 5,04,428 |
Axis Bank | Rs 1 lac | Rs 4.6 lacs | 5 years | 11.00% | Rs 10,002 | Rs 1,40,091 | Rs 6,00,091 |
Note- EMIs, rate of interest, maximum loan and tenure will differ according to the income and repayment capacity. Also the loan tenure can increase depending upon your income.
Hyundai i10
- Ex-showroom price-Rs 4,29,726 (New Delhi)
- Registration charges-Rs Rs 21,690
- Insurance-Rs Rs 14,278
- On road price-Rs 4,68,439
- Other charges-Rs 2,745
- Down Payment-Rs 42,973
Table showing EMI calculator on Hyundai i10 on take home salary of Rs 20,000 per month
Banks | Min Loan | Max Loan | Max Tenure | Rate of Interest | EMI | Total Interest | Total Amount |
SBI | Rs 1 lac | Rs 3.65 lacs | 5 years | 8.70% | Rs 7,524 | Rs 86,426 | Rs 4,51,426 |
ICICI Bank | Rs 1 lac | Rs 3.3 lacs | 5 years | 10.00% | Rs 7,012 | Rs 90,691 | Rs 4,20,691 |
HDFC Bank | Rs 1 lac | Rs 3.55 lacs | 5 years | 9.00% | Rs 7,369 | Rs 87,153 | Rs 4,42,153 |
Axis Bank | Rs 1 lac | Rs 3.9 lacs | 5 years | 11.00% | Rs 8,480 | Rs 1,18,773 | Rs 5,08,773 |
Note- EMIs, rate of interest, maximum loan and tenure will differ according to the income and repayment capacity. Also the loan tenure can increase depending upon your income.
Fees & Charges
After knowing the eligible loan amount, EMI and interest, now discuss the fees and charges one has to pay while taking car loan from the banks mentioned above. As fees and charges differ across banks, we will discuss the same separately for the select banks.
State Bank of India Car loan
- Processing fee charged – N.A
- No charges on pre-payment penalty, foreclosure
- Other charges as applicable by the bank
ICICI Bank Car Loan
- Processing fees are charged – Rs.2500/- to Rs.5000/-
- Part prepayment allowed only twice during the loan tenure and once in a year
- Part prepayment not allowed for cases with loan period up to 6 months
- 6% of loan amount for cases with period of 7 to 12 months
- 5% of loan amount for cases with period of 13 to 24 months
- 3% of loan amount for cases with period more than 24 months
- Minimum prepayment amount should be equivalent to one EMI
- Maximum prepayment amount should be 25% of principal outstanding
- CIBIL report charges of Rs 50
- Registration Certificate Collection Charges of Rs 350
- Documentation charges of Rs 350
- Late payment penalty of 2% per month on outstanding amount
- Swap charges of Rs 500 per transaction
- Cheque bounce charges of Rs 500 per transaction
- Duplicate No Objection Certificate (NOC)/No Due Certificate (NDC) charges of Rs 500
HDFC Bank Car Loan
- Processing fee – 0.4% of Loan Amount or Rs.10000, whichever is lower.
- 5% on the part payment amount in case part prepayment is within 13-24 months from 1st EMI
- 3% on the part payment amount in case part prepayment after 24 months from 1st EMI
- Late payment penalty of 2%
- Foreclosure charges:-No foreclosure allowed within 6 months from date of availing the car loan. 6% of Principal Outstanding for preclosures within 1 year from 7th EMI. 5% of Principal Outstanding for preclosures within 13-24 months from 1st EMI. 3% of Principal Outstanding for preclosures post 24 months from 1st EMI
- Cheque/ECS swapping charges of Rs 500
- Cheque/ SI/ ECS Return Charges of Rs 550
- Collateral charges of Rs 300
- CIBIL charges (only on request) of Rs 50
- Duplicate no due certificate/NOC charges of Rs 500
Axis Bank Car Loan
- Processing fee of Rs 3,500-5,500
- Part payment charged at 5% of the amount plus service tax
- Late payment penalty of 2% per month
- Foreclosure charges calculated at 5% of the Principal Outstanding plus service tax
- Cheque/ SI/ ECS Return Charges of Rs 500 per instance
- Duplicate No Dues Certificate / NOC charges of Rs 500