IDBI Bank Car Loan EMI Calculator

IDBI Bank Car Loan EMI Calculator

The IDBI Bank Car Loan EMI Calculator is a simple online tool that helps you estimate your monthly loan repayment amount. By entering basic loan details like amount, interest rate, and tenure, you can instantly find your Equated Monthly Instalment (EMI). This helps you plan your finances better before purchasing a new or used car with an IDBI Bank loan.

How the IDBI Bank Car Loan EMI Calculator Works

The calculator uses the standard EMI formula to compute your monthly payment. Once you input:

• Loan Amount: The total amount you want to borrow from IDBI Bank.
• Interest Rate (p.a.): Annual interest rate applicable to your car loan.
• Loan Tenure: Duration of the loan in months or years.

It returns:

• Monthly EMI: Fixed monthly payment.
• Total Interest Payable: Interest you’ll pay over the full loan term.
• Total Repayment Amount: The total amount paid (principal + interest).

Formula Used to Calculate EMI

EMI = [P × R × (1 + R)^N] ÷ [(1 + R)^N – 1]

• P: Principal loan amount
• R: Monthly interest rate = Annual Rate ÷ 12 ÷ 100
• N: Loan tenure in months

Example Calculation

Suppose:

• Loan Amount = ₹8,00,000
• Interest Rate = 9.00% p.a.
• Tenure = 5 years (60 months)

Then:

• R = 9 ÷ 12 ÷ 100 = 0.0075
• N = 60
• EMI = ₹16,622 (approximately)

Key Benefits of Using This Calculator

• Quick and Easy: Instant results without manual calculations.
• Compare Scenarios: Try different tenures or rates to find a suitable EMI.
• Better Planning: Helps you budget your monthly car loan repayments.
• No Personal Details Required: Use anonymously without registration.

IDBI Bank Car Loan – Interest Rate and Features (Q1 FY 2024–25)

• Interest Rate (new car): Starting from 8.90% p.a.*
• Loan Tenure: Up to 7 years
• Maximum Loan Amount: ₹25 lakh or more (depending on eligibility)
• Processing Fee: Varies as per loan terms

*Rates are indicative and may vary. Always check the latest terms on the official IDBI Bank website.

Disclaimer : The results given by the above calculator are for illustration purpose only. They are often based on a number of assumptions. The results given are in no way any guarantee of the returns that will be given. Investments in stock markets and securities markets are subject to market risks and other risks. There is no guarantee of the return that will be actually given. Investment in other financial products may also be subject to market risks and other risks. There is no guarantee of the returns that will be given by them. The calculator also does not make any recommendation directly or indirectly. Please consult a registered Financial Advisor before taking any investment decision.