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Indusind Bank 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 IndusInd Bank Car Loan EMI Calculator?

A car loan calculator is a very helpful financial tool if you are looking to purchase a car. It will help you determine the monthly payments you need to make on the car loan and plan your budget accordingly. If you are looking for car loan options from IndusInd Bank, then use the online IndusInd Bank car loan EMI calculator to calculate your EMI before making the financial commitment.

The IndusInd Bank car loan EMI calculator on the Angel One website is an easy and user-friendly tool that can help you calculate your car loan EMIs in less than a minute.

How Does a IndusInd Bank Car Loan EMI Calculator Work?

Before understanding the usage of the IndusInd Bank car loan EMI calculator, let’s look at the working of the calculator.

A car loan EMI calculator is simple and straightforward. All you have to do is enter the loan amount, interest rate and tenure of the loan. The loan EMI calculator will compute the values and determine the monthly EMI, total interest on the loan and total amount (including interest). All these values are derived in seconds.

What is the IndusInd Bank Car Loan EMI Calculator Formula?

The IndusInd Bank car loan EMI calculator formula is as follows:

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

Where,

P = Principal amount

N = Tenure of the loan (in months)

R = Interest Rate

Let us consider an example to better understand the car loan EMI calculator formula.

Suppose you took a car loan of Rs. 2,00,000 at an interest rate of 10% and a tenure of 5 years. Therefore -

P = Rs. 2,00,000

N = 5 years (or 5*12 = 60 months)

R = 10% (or 10/100/12 = 0.0833 per month)

Therefore, EMI = [2,00,000 x 0.0833 x (1+0.0833)^60] / [(1+0.0833)^60-1]

EMI = Rs. 4,249

How to use the IndusInd Bank Car Loan EMI Calculator Online?

The usage of the online IndusInd car loan EMI calculator on the Angel One website is easy and involves basic steps as follows:

  • Open the Angel One IndusInd car loan calculator
  • Enter the loan amount
  • Enter the interest rate
  • Enter the loan tenure

The calculator will then provide you with a quick result on the monthly EMI, total interest on the loan and the total payable amount, including the interest. All this information is provided to you instantly.

Benefits of Using the IndusInd Bank Car Loan EMI Calculator

  • Plan finances well: Using a car loan EMI calculator can help you plan your finances efficiently. You’ll know the EMI on your car loan and can work on the monthly budget accordingly.
  • Evaluate affordability: Knowing how much EMI you can afford is a vital part of getting the right loan and the online IndusInd Bank car loan EMI calculator can help you evaluate that. You can check how much loan to borrow according to your monthly budget range. But remember that the loan EMI varies with interest rates.
  • Error-free and instant results: Manual calculations are prone to errors which can be avoided easily by using an online calculator. Also, the results provided by an online car loan EMI calculator are quick and instant. All you need to do is enter basic details like loan amount, interest rate and tenure.
  • Free to use:The online IndusInd Bank car loan EMI calculator is free on the Angel One website. You can use the calculator at any time from anywhere at your convenience.

FAQs

What is the IndusInd Bank car loan EMI calculator?

The IndusInd Bank car loan EMI calculator is an essential financial tool to calculate the IndusInd Bank car loan EMI. This online calculator eliminates the errors of manual calculations and gives instant results.

How to use the IndusInd Bank car loan EMI calculator online?

Angel One’s IndusInd Bank car loan EMI calculator is easy and user-friendly. Just enter the loan amount, interest rate and loan tenure. You’ll get results of the monthly instalment amount along with the total interest on the loan.

Is the online IndusInd Bank car loan EMI calculator free to use?

Yes. The IndusInd Bank car loan EMI calculator on the Angel One website is free to use. It is accessible from anywhere and can be used at any time according to your convenience.

What is the interest rate on the IndusInd Bank car loan?

The interest rate on the IndusInd Bank car loan is not fixed. It is determined according to the applicant’s profession, age and credit score. Banks also consider economic factors while determining the interest rate on loans.

What are the factors that affect the car loan EMI?

Factors like interest rate, loan amount and the tenure of the loan have a direct impact on the car loan EMI.

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