Kotak Mahindra Bank Car Loan EMI Calculator

Kotak Mahindra Bank Car Loan EMI Calculator

The Kotak Mahindra Bank Car Loan EMI Calculator is an easy-to-use tool for estimating your monthly EMIs before applying for a car loan. Whether you’re buying a new or used vehicle, this calculator gives you a quick and accurate idea of your repayment schedule.

How the Kotak Car Loan EMI Calculator Works

This calculator uses three key inputs to compute your EMI:

• Loan Amount: The total amount you plan to borrow
• Interest Rate (% p.a.): The applicable annual interest rate
• Loan Tenure: The duration of your loan, in months or years

EMI Calculation Formula

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

If you borrow ₹8 lakh for a car at an interest rate of 9% p.a. for 5 years:

• Loan Amount (P): ₹8,00,000
• Annual Interest Rate: 9% → Monthly Rate (R) = 0.0075
• Tenure (N): 60 months
• EMI: ₹16,598 (approximately)

Benefits of Using the Kotak Car Loan EMI Calculator

• Instant Results: Get EMI estimates in seconds
• Compare Loan Scenarios: Modify loan amount, rate, or tenure to see the impact
• Plan Better: Helps you select a repayment plan that suits your budget
• No Manual Calculations: Avoid errors with accurate, formula-based results

Kotak Mahindra Car Loan – Key Highlights

• Loan Amount: Up to 100% of the car’s ex-showroom price
• Interest Rates: Starting from 8.70% p.a. (as of Q1 FY 2024–25)
• Tenure: Flexible repayment from 12 to 84 months
• Processing Fee: Up to ₹5,000 + GST

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.