A car loan EMI calculator helps you calculate the EMI (Equated Monthly Instalment) you would have to pay to repay your car loan. Calculating your loan EMI beforehand could help you plan your finances in a better way.Use Navi Car Loan EMI Calculator to save time and get accurate results. This convenient tool carries a user-friendly design and helps you calculate your car loan EMI in a quick and efficient manner.
How to Calculate Car Loan EMI?
Your car loan EMI depends on three factors – the loan tenure, the applicable interest rate, and the principal amount. You can calculate your car loan EMIs manually, but it is a time-consuming process and is prone to errors. Instead, you can use the Navi car loan calculator to accurately calculate the EMI in a few seconds.Use the following steps to calculate your car loan EMI:Select the loan amountChoose the amount you need with the help of slide barSelect the loan tenureUse the slide bar to choose the loan tenureSelect the interest rateMove the slide bar to select the interest rateOnce you have selected the details, you will be able to check your EMI instantly.
What is the Car Loan EMI Formula?
The formula to calculate the car loan EMI is as follows:EMI = P × r × (1 + r)n/((1 + r)n – 1) where,P = loan amount r = interest rate n = tenure in number of months For example, for a principal loan amount of ₹1,00,000, 8% interest rate and a tenure of 4 years, the EMI will be ₹2,441 per month.
Advantages of Using the Navi Car Loan EMI Calculator
Intuitive designIt features a user-friendly and intuitive design that facilitates hassle-free calculation
Accurate resultsGet quick and accurate results at all times with our EMI calculator
ConvenientSave time and calculate your EMI within a few seconds
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