# HDFC Car Loan EMI Calculator

Loan Amount

Interest rate

%

1%

15%

Loan Duration

Yrs

1 Yr

30 Yrs

EMI

0

Principal Amount

Interest

Total Payable

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## What is the HDFC Car Loan EMI Calculator?

The HDFC car loan EMI calculator is a customised online tool for you. This user-friendly EMI calculator, available on Angel One, assists you in determining the EMI required for purchasing your dream car. With its intuitive interface, the online HDFC car loan EMI calculator simplifies the complex calculations in determining your monthly payments. You can simply input the principal amount, interest rate, and loan tenure, and quickly obtain the precise EMI amount you need to pay.

This car loan EMI calculator allows you to explore various scenarios, adjust the principal amount, and compare different interest rates to find the ideal combination that suits your budget and preferences. The HDFC car loan EMI calculator enables you to make informed decisions about your car loan and plan your finances effectively. It provides accurate and reliable information and ensures a transparent and hassle-free car loan experience.

## How Does an HDFC Car Loan EMI Calculator Work?

The car loan EMI calculator calculates your EMIs based on the loan amount, interest rate, and tenure. The car loan EMI calculator takes the complexity out of manual calculations, saving time and effort. It applies a mathematical formula that considers the principal amount, interest rate, and repayment period to determine your monthly EMI.

## What is the HDFC Car Loan EMI Calculator Formula?

The HDFC car loan EMI calculator formula is as follows:

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

Where,

P is the principal loan amount

R is the rate of interest per month

N is the number of monthly instalments or tenure in months

## How to Use the HDFC Car Loan EMI Calculator Online?

The online HDFC car loan EMI calculator is easy-to-operate and offers a user-friendly interface. Follow the steps given below for a smooth process:

• Visit Angel One and navigate to the HDFC car loan EMI calculator
• Enter the amount you wish to borrow
• Enter the applicable annual interest rate. You can also use the sliders to adjust the interest rate
• Enter the repayment tenure (in years)

Once you have entered the above information, the online HDFC car loan EMI calculator will display your EMIs and the total payable amount.

Suppose you want to take a loan of Rs. 5,00,000. The bank offers you the car loan at a 7.25% interest rate, and you have agreed to repay the loan in 5 years. Once you enter the above details into the HDFC car loan EMI calculator, it will display your EMIs as Rs. 9,972. Moreover, the total payable amount will be Rs. 5,98,291, with an interest of Rs. 98,291.

## Benefits of Using the HDFC Car Loan EMI Calculator

Here are some benefits of using the online HDFC car loan EMI calculator:

• Accurate EMI calculation: The HDFC car loan EMI calculator ensures precise estimates, giving you an accurate estimate of your EMIs based on the loan amount, interest rate, and tenure. It helps you plan your finances effectively.
• Time-saving: The online HDFC car loan EMI calculator provides instant results within seconds. It saves you valuable time and effort, allowing you to make quick decisions.
• Financial planning: Using the HDFC car loan EMI calculator, you can adjust different variables, such as the loan amount and tenure, to find the most suitable EMI option that aligns with your budget and financial goals. It empowers you to make informed decisions and plan your car purchase accordingly.
• Comparison and analysis: The online HDFC car loan EMI calculator lets you compare loan amounts, tenures, and interest rates. It allows you to analyse various scenarios and choose the most affordable and convenient option that suits your financial capabilities.
• Flexibility and customisation: With the HDFC car loan EMI calculator, you can customise inputs to match your specific requirements. You can adjust the loan amount, tenure, and interest rate to find the EMI that suits your budget and repayment capacity.

## Types of Car Loans Offered by HDFC

The types of car loans offered by HDFC are:

• New Car Loan: With HDFC Bank's New Car Loan, you can secure up to Rs. 10 crore for a diverse selection of cars and multi-utility vehicles. You can also enjoy up to 100% on-road finance. Additionally, you can choose repayment tenures ranging from 12 to 84 months, ensuring a comfortable repayment plan.
• EV Car Loan: This car loan caters to those looking to purchase electric two-wheelers and four-wheelers, providing loans of up to Rs. 10 crore on popular electric cars and multi-utility vehicles. You can easily afford your desired electric vehicle with up to 100% financing on the on-road price. Moreover, you get flexible repayment tenure of 12 to 96 months. The EV Car Loan is also eligible for income tax benefits under section 80EEB of the Income Tax Act.
• HDFC Pre-owned Car Loan: HDFC Bank offers a Pre-owned Car Loan that allows you to access funds of up to Rs. 2.5 crore for a wide range of used cars and multi-utility vehicles. Depending on your income, you can borrow 3 to 6 times your yearly income and secure up to 100% of the car's value. The loan tenure is a maximum of 60 months, with the condition that the car's age at loan maturity does not exceed 10 years. Additionally, without income proof, you can obtain 80% of the car's value as a loan amount for 3 years or 85% for 5 years.
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## FAQs

### What is the HDFC car loan EMI calculator?

The HDFC car loan EMI calculator is an online tool that assists you in calculating the monthly instalments you must pay to repay your car loan.

### How to use the HDFC car loan EMI calculator online?

Visit Angel One and navigate to the online HDFC car loan EMI calculator. Enter the loan amount, rate of interest and the repayment tenure. The car loan EMI calculator will calculate your EMIs and give you the results instantly.

### Is the HDFC car loan EMI calculator free to use?

Yes, the HDFC car loan EMI calculator is free to use. It is an online tool accessible on the Angel One website without any charges or hidden fees.

### How is the total interest of the HDFC car loan calculated?

The total interest payable on a car loan is calculated by deducting the principal loan amount from the total payable amount. The total payable amount can be calculated using the car loan EMI calculator on Angel One. This calculator applies a mathematical formula to the values.

### Is there a penalty on the prepayment of the HDFC car loan?

Banks often charge a small prepayment fee if you repay the car loan before the specified tenure. It is usually a small percentage of the outstanding amount of the car loan. However, it varies from bank to bank. Contact your bank for details.

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