Vidharbha Konkan Gramin Bank Car Loan EMI Calculator
- Repayment by Equated Monthly Instalment only. No quarterly/half-yearly/yearly methods are allowed.
- EMI should start next month after disbursement.
- Maximum repayment period – 84 months.
- In case of second-hand vehicles- Maximum 60 months.
- EMI should be rounded off to the next Rs.10/-
How To Use Dialabank Vidharbha Konkan Gramin Bank Car Loan EMI Calculator To Understand Your Car Loan Repayment?
Vidharbha Konkan Gramin Bank Car Loan EMI Calculator – How Does It Work?
The Vidharbha Konkan Gramin Bank Car Loan EMI calculator on the Dialabank website is often wont to instantly calculate the entire cost of your automobile loan, which incorporates the loan amount, total interest payment, and the processing fee.
All you’ve got to try is to move the slider on the size to point to the loan amount and loan tenure. Then, enter the automobile loan rate of interest and processing fee. Click on the Calculate button, and therefore the EMI is going to be displayed.
This tool also gives you a choice to enter prepayment amount, frequency, and charge when computing the EMI. The tool also gives you a monthly and yearly amortisation schedule for automobile loan repayment. EMI is calculated using the following formula.
EMI is calculated using the following formula:
EMI = [P x R x (1 + R) ^ N] / [(1 + R) ^ N-1],
where P is the principal, R is the interest rate, and N is the number of instalments.
Vidharbha Konkan Gramin Bank Car Loan EMI Calculator – Features and Benefits
- Higher Loan Amount: Banks provide you with an automobile loan of up to 80-100% of the car’s on-road price just in case of the latest cars. The car’s on-road price includes the car’s ex-showroom price, government tax, and insurance cost.
- No got to Liquidate your Investments: If you avail of an automobile loan, there’s no liquidate your investments which you’ve got made for a few other purposes.
- Flexible Tenure: you’ll choose any loan repayment tenure starting from 1 year to 7 years consistent with your choice.
- Tax Benefits: A automobile loan can assist you to save on tax if you’re a self-employed person/ businessman and use the car for legitimate business purposes. If you’re a self-employed person/ businessman, you’ll claim the interest paid on an automobile loan as a trading expense. In this way, your taxable income will get reduced by the quantity of interest you’ve got paid during a fiscal year on an automobile loan.
- Multiple loan repayment options
- Fast & easy processing of personal loan application
- Quick loan approval
- A guarantor isn’t insisted upon by the bank
- Attractive & competitive interest rates
- Usually, no security is required for availing consumer loan
Vidharbha Konkan Gramin Bank Car Loan EMI calculator is easily accessible.
Vidharbha Konkan Gramin Bank Car Loan EMI Calculator – FAQs
✅ What is the utmost amount of car finance available?
Banks can offer a car loan up to 100% on the ex-showroom value of the car, or they can require some margin. The car finance amount usually is based on the car purchased and the profile | credit score of the applicant.
✅ What are the different stages involved in availing of a car loan?
There are, in total 4 st, ages involved in availing of a car loan, which are:
Submitting a Loan Application
Processing of application
Approval of the loan
Disbursement of the loan amount
✅ Whether the automobile loan is out there for the cars alone or the accessories as well?
Banks generally don’t provide loan for any accessory except it’s a typical fitting.
✅ What is advanced EMI?
If the borrower pays the EMI at the start of the month, it’s called advance EMI.
✅ What is EMI in arrears?
If the borrower pays the EMI at or after the top of the month, it’s referred to as EMI behind. It is the standard method of paying EMI.
✅ What is flat rate EMI?
When the interest is paid on the entire principal amount of a car loan till maturity, it is known as a flat rate EMI.
✅ Is Vidharbha Konkan Gramin Bank Car Loan EMI calculator Cargeable?
No Dialabank’s Vidharbha Konkan Gramin Bank Car Loan EMI calculator is provided for free.
