Car Loan EMI Calculator | Car Loans

Best Car Loan EMI Calculator for EMI Calculation, Total Interest Paid, Monthly Interest and principal repayment and coplete amortization schedule

  Car Loan EMI Calculator 

Yojana Sarkari Car loan EMI calculator provides you with complete details of your monthly Installments, the monthly breakup of Interest and Principal, Total Interest Paid, during the entire loan tenure.

How to Use Car Loan EMI Calculator

You just need to enter three figures in this excel Sheet i.e Loan Amount Required, Interest Rate and Tenure of Loan and this calculator will automatically calculate and presents your entire sheet showing all necessary details.

Car Loan EMI calculator Download Link

https://drive.google.com/file/d/1e9xUs7Vit8GvOCsFKOFgFbRsJZ80F4Aq/view?usp=sharing

Maximum Quantum of Car Loan

There is no maximum quantum fixed for car loans most of the banks finance about 90% of the cost of the vehicle in case of New Cars and around 75% in the case of new cars.
Maximum car loan quantum depends upon your monthly income and 50% take-home pay norms followed while calculating loan quantum.

Purpose of Car Loan

To purchase a new or used car but the age of the car should not be older than 5 years.

Car Loan Eligibility

• Confirmed employees of State/Central Government/PSU & Autonomous Bodies.
• Employees of Reputed companies.
• Professionals/Self Employed/Businessmen with a minimum of 03 years standing in the current profession.
• Any individual having a regular source of income
• All types of Firms and Companies are also eligible.

Documents Required for Car Loan

• A proforma invoice from a registered dealer containing the price of the vehicle.
• Duly filled Application Form with Photograph.

• KYC DOCUMENTS

• Identity Proof:
  • PAN Card, Passport, Any other Certificate from Statutory Authority
• Residence Proof:
  •  Passport, Driving License, Telephone Bill, Ration Card, Election Card, Any other Certificate from Statutory Authority

• Income Proof for Salaried
  • Latest Salary-slips for 3 months
  • Form-16.
  • Last 6 months Bank Statements salary account.

• Income Proof for Self Employed:
  • Last 3 years Income Tax returns self and business with Profit & Loss Account and Balance Sheets duly certified/audited by a Chartered Accountant.

Driving License is a must-have document for a car loan.

Repayment Period of Car Loan

Maximum Repayment Period for New Cars - 07 years i.e. 84 Equated Monthly Installments
Maximum Repayment for used cars is also 84 months but the age of the car should not go beyond 8 yrs at the time of the last instalment.

Margin Requirements for Car Loan

The margin requirements of car loan are as under:

• New Car - 10% of the invoice value
• Used Car - 25% of the invoice value

Holiday Period for car Loan

Nil.

Security for Car Loan

Hypothecation of car purchased out of the loan.

Remarks on Car Loan EMI Calculator

Car Loan EMI calculator provided by Yojana Sarkari answer all your questions regarding carl loan calculations like total interest paid, monthly interest and principal breakup and monthly balance after EMI payments.