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IndusInd Bank Car Loan EMI Calculator

Loan amount
Rate of interest (p.a)
%
Loan tenure
Yr
Monthly EMI
Principal amount
Total interest
Total amount
Principal amount
Interest amount

IndusInd Bank offers eligible clients car loans, and these car loans are simpler ways to buy cars since you can pay the loan off through an EMI or an equated monthly installment.

This monthly installment will be a particular sum of money, needs to be paid on a specific date, and will be paid for the entire loan tenure.

If you are planning on getting a car loan from IndusInd Bank and want to know how much the EMI each month would be, you can use the IndusInd Bank car loan EMI calculator for instant assistance.

What is the IndusInd Bank Car Loan Calculator?

 The IndusInd Bank car loan EMI calculator is an online tool with a formula box for standard calculations of car loan EMIs from IndusInd Bank.

The calculator is an internet-based tool and will only work online. You can use it to know the amount of EMI you would incur in a car loan that you want to take from the bank. 

The calculator can be used 24/7 and also as many times as required. Therefore, you can enter different amounts and tenures to check the suitability of the EMI amount.

How Will the IndusInd Bank Car Loan EMI Calculator Help You?

The IndusInd Bank car loan EMI calculator is one where you get instant solutions on the possible EMI you would be paying towards the car loan from IndusInd Bank. It can be used as a tool of comparison by adjusting different tenures and amounts. It can be an instrument used to estimate the most suitable car loan scheme that the bank provides you.

The IndusInd Bank will also eliminate any possible outcome of human error as there will be no need for any sort of manual calculations. The calculator will also show you the amount of total interest that would incur on your car loan.

How Do I Use the IndusInd Car Loan EMI Calculator?

Using the IndusInd Bank car loan calculator is simple and easy to use, and all that you would have to do is enter the below-mentioned data into the calculator. 

1) Principal

The initial amount that you need to buy the car.

2) Tenure

The period for which you want the loan to be paid off.

3) Rate

This is the interest rate that the bank is offering you for the car loan.

Once these details have been clearly adjusted into the calculator, you will be shown the EMI you would be paying on the loan each month and the interest that has been charged on the loan.

What is the Process for Manually Calculating the EMI for the Car Loan?

The calculator also uses a standard format to make these calculations, and you can also calculate the EMI amount of the car loans from IndusInd Bank with this formula.

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

Therefore, each letter of the formula stands for the following:

P - Principal

N - Tenure

R - Interest Rate

 This formula could be explained more clearly through an example.

If you have decided to take a car loan from IndusInd Bank, and you will be applying for it in the month of June 2022 with the below-mentioned structure:

P = Rs. 7.5 lakhs

R = 6.8%

N = 4 Years ( 48 months )

EMI = [7,50,000 x 12/100/12 x (1+6.8/100/12)^48] / [(1+6.8/100/12)^48-1]

EMI = Rs. 17,890

Amortization Table of the Loan

Based on the formula that has been spoken about before, here is an amortization table that can portray to you the segments of the repayment of the loa in detail:

Year

Total Payment

Loan Outstanding

2022

Rs. 1,07,340

Principal Paid - Up

Interest Paid-Up

Rs. 83,008

Rs. 24,332

Rs. 6,66,992

2023

Rs. 2,14,680

Principal Paid - Up

Interest Paid-Up

Rs. 1,74,704

Rs. 39,976

Rs. 4,92,289

2024

Rs. 2,14,680

Principal Paid - Up

Interest Paid-Up

Rs. 1,86,961

Rs. 27,719

Rs. 3,05,329

2025

Rs. 2,14,680

Principal Paid - Up

Interest Paid-Up

Rs. 2,00,076

Rs. 14,604

Rs. 1,05,252

2026

Rs. 1,07,350

Principal Paid - Up

Interest Paid-Up

Rs. 1,05,253

Rs. 2,097

Rs. 0

What are the Benefits of Using the Car Loan Calculator IndusInd Bank from Groww?

There can be varied takeaway benefits from using the IndusInd Bank Car Loan calculator from Groww, but the main advantages are:

  • The users of this calculator can completely eliminate the possibility of errors because there will be no manual calculations.
  • It is time-saving for the borrower as he will find instant solutions.
  • It is easier to use and does not need any advanced skills.
  • It is free of cost for everyone, and it can be easily accessed.

IndusInd Bank Car Loan EMI Calculator - FAQs

Q1. What is the EMI Calculator for Car Loan IndusInd Bank?

It is an online tool that will allow you to know the IndusInd Bank car loan EMI.

Q2. What is the use of the IndusInd Bank car loan calculator?

Through this calculator, you can make sure the amount of EMI and interest before you apply for the loan.

Q3. Can I make prepayments to IndusInd Bank for my car loan?

Yes, you can make prepayments for your car loan to the bank to reduce the expenses.

Q4. Will the interest rate of my EMI change after a prepayment?

No, your interest rate will remain the same, but the amount on which the rate is being charged will have reduced.

Q5. Can I also know the processing fee through this calculator?

No, the processing fee will be changed often, and only the bank can ensure the guarantee of that amount to you.

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