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Hyundai Creta 2021 Car Loan EMI Calculator

Best Hyundai Creta 2021 Car Loan EMI Calculator With Downpayment - Check out the Cheapest Hyundai Creta 2021 Car Loan EMI Calculator With Downpayment from all banks with lower inerest rates, Loan for 5 Years, 7 Years and 8 Years plan with minimum eligibility and documentations with Private Banks and Govt Banks. Check out the Interest Rates of Hyunday Car Loan EMI of All Private and Government Banks HDFC Bank, ICICI Bank, Syndicate Bank, SBI Bank, Kotak Mahindra Bank, Canara Bank, IDBI First Bank, HSBC Bank, Punjab National Bank and many more.

Hyundai Creta 2021

The EMI for a Hyundai Creta 2021 starts at ₹ 97,378 per month for a 60-month term at 9.8 percent for a loan amount of ₹ 17.87 lakh. The AutoSpyders EMI Calculator tool provides a full breakdown of the entire due amount and assists you in choosing the best vehicle loan for your Creta 2021.

Hyundai Creta 2021 Down Payment and EMI

Hyundai Creta 2021 VARIANTS
LOAN @ RATE%
DOWN PAYMENT
EMI AMOUNT (60 MONTHS)
EMI AMOUNT (84 MONTHS)
Hyundai Creta 2021 E
9.8%
₹ 1,19,000
₹ 22,732
₹ 17,733
Hyundai Creta 2021 E Diesel
9.8%
₹ 1,25,000
₹ 23,802
₹ 18,568
Hyundai Creta 2021 EX
9.8%
₹ 1,30,000
₹ 24,725
₹ 19,288
Hyundai Creta 2021 EX Diesel
9.8%
₹ 1,41,000
₹ 26,763
₹ 20,878
Hyundai Creta 2021 S
9.8%
₹ 1,44,000
₹ 27,363
₹ 21,345
Hyundai Creta 2021 S Diesel
9.8%
₹ 1,57,000
₹ 29,880
₹ 23,309
Hyundai Creta 2021 SX Executive
9.8%
₹ 1,57,000
₹ 29,880
₹ 23,309
Hyundai Creta 2021 SX
9.8%
₹ 1,64,000
₹ 31,114
₹ 24,272
Hyundai Creta 2021 SX Executive Diesel
9.8%
₹ 1,68,000
₹ 31,994
₹ 24,959
Hyundai Creta 2021 SX Diesel
9.8%
₹ 1,75,000
₹ 33,229
₹ 25,922
Hyundai Creta 2021 SX IVT
9.8%
₹ 1,80,000
₹ 34,279
₹ 26,741
Hyundai Creta 2021 SX Opt Diesel
9.8%
₹ 1,89,000
₹ 35,943
₹ 28,039
Hyundai Creta 2021 SX Diesel AT
9.8%
₹ 1,91,000
₹ 36,403
₹ s.28,398
Hyundai Creta 2021 SX Opt IVT
9.8%
₹ 1,94,000
₹ 36,829
₹ 28,730
Hyundai Creta 2021 SX Turbo Dualtone
9.8%
₹ 1,94,000
₹ 36,852
₹ 28,748
Hyundai Creta 2021 SX Turbo
9.8%
₹ 1,94,000
₹ 36,852
₹ 28,748
Hyundai Creta 2021 SX Opt Diesel AT
9.8%
₹ 2,05,000
₹ 38,952
₹ 30,387
Hyundai Creta 2021 SX Opt Turbo Dualtone
9.8%
₹ 2,05,000
₹ 39,066
₹ 30,475
Hyundai Creta 2021 SX Opt Turbo
9.8%
₹ 2,05,000
₹ 39,066
₹ 30,475

Due to the many auto loan options given by various lenders, it is much easier to acquire your ideal car nowadays. Car loans are available with low interest rates and up to an 8-year payback period. A Car Loan EMI Calculator is available from a variety of banks and third-party websites, and it helps you to calculate the Equated Monthly Instalments (EMIs) that must be paid. AutoSpyder's Car Loan EMI Calculator is simple to use and completely free. To calculate the EMI, basic information such as the payback term, principle amount, and interest rate must be input.

Car Loan EMI Structure of Hyundai Creta E

Model Name

Hyundai Creta E

Price

₹ 10.16 Lakh* (Ex-showroom)

Loan Amount

₹ 10,74,838

Downpayment

₹ 1,19,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 1,86,988
₹ 2,89,052
₹ 2,65,864
₹ 4,14,709
Total Amount Payable
₹ 12,61,826
₹ 13,63,890
₹ 13,40,702
₹ 14,89,547

Monthly EMI

₹ 21,030

₹ 22,732

₹ 15,961

₹ 17,733

EMI / 1 Lakh
₹ 1,957
₹ 2,115
₹ 1,485
₹ 1,968

Car Loan EMI Structure of Hyundai Creta E Diesel

Model Name

Hyundai Creta E Diesel

Price

₹ 10.63 Lakh* (Ex-showroom)

Loan Amount

₹ 11,25,458

Downpayment

₹ 1,25,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 1,95,795
₹ 3,02,665
₹ 2,78,385
₹ 4,34,240
Total Amount Payable
₹ 13,21,253
₹ 14,28,123
₹ 14,03,843
₹ 15,59,698

Monthly EMI

₹ 22,021

₹ 23,802

₹ 16,712

₹ 18,568

EMI / 1 Lakh
₹ 1,957
₹ 2,115
₹ 1,485
₹ 1,968

Car Loan EMI Structure of Hyundai Creta EX

Model Name

Hyundai Creta EX

Price

₹ 11.12 Lakh* (Ex-showroom)

Loan Amount

₹ 11,69,113

Downpayment

₹ 1,30,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 2,03,389
₹ 3,14,405
₹ 2,89,183
₹ 4,51,084
Total Amount Payable
₹ 13,72,502
₹ 14,83,518
₹ 14,58,296
₹ 16,20,197

Monthly EMI

₹ 22,875

₹ 24,725

₹ 17,361

₹ 19,288

EMI / 1 Lakh
₹ 1,957
₹ 2,115
₹ 1,485
₹ 1,968

Car Loan EMI Structure of Hyundai Creta EX Diesel

Model Name

Hyundai Creta EX Diesel

Price

₹ 12.03 Lakh* (Ex-showroom)

Loan Amount

₹ 12,65,465

Downpayment

₹ 1,41,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 2,20,152
₹ 3,40,317
₹ 3,13,016
₹ 4,88,260
Total Amount Payable
₹ 14,85,617
₹ 16,05,782
₹ 15,78,481
₹ 17,53,725

Monthly EMI

₹ 24,760

₹ 26,763

₹ 18,791

₹ 20,878

EMI / 1 Lakh
₹ 1,957
₹ 2,115
₹ 1,485
₹ 1,968

Car Loan EMI Structure of Hyundai Creta S

Model Name

Hyundai Creta S

Price

₹ 12.35 Lakh* (Ex-showroom)

Loan Amount

₹ 12,93,812

Downpayment

₹ 1,44,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 2,25,083
₹ 3,47,940
₹ 3,20,028
₹ 4,99,197
Total Amount Payable
₹ 15,18,895
₹ 16,41,752
₹ 16,13,840
₹ 17,93,009

Monthly EMI

₹ 25,315

₹ 27,363

₹ 19,212

₹ 21,345

EMI / 1 Lakh
₹ 1,957
₹ 2,115
₹ 1,485
₹ 1,968

Car Loan EMI Structure of Hyundai Creta S Diesel

Model Name

Hyundai Creta S Diesel

Price

₹ 13.31 Lakh* (Ex-showroom)

Loan Amount

₹ 13,93,806

Downpayment

₹ 1,55,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 2,42,479
₹ 3,74,831
₹ 3,44,762
₹ 5,37,778
Total Amount Payable
₹ 16,36,285
₹ 17,68,637
₹ 17,38,568
₹ 19,31,584

Monthly EMI

₹ 27,271

₹ 29,477

₹ 20,697

₹ 22,995

EMI / 1 Lakh
₹ 1,957
₹ 2,115
₹ 1,485
₹ 1,968

Car Loan EMI Structure of Hyundai Creta SX Executive

Model Name

Hyundai Creta SX Executive

Price

₹ 13.34 Lakh* (Ex-showroom)

Loan Amount

₹ 14,12,829

Downpayment

₹ 1,57,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 2,45,788
₹ 3,79,947
₹ 3,49,467
₹ 5,45,118
Total Amount Payable
₹ 16,58,617
₹ 17,92,776
₹ 17,62,296
₹ 19,57,947

Monthly EMI

₹ 27,644

₹ 29,880

₹ 20,980

₹ 23,309

EMI / 1 Lakh
₹ 1,957
₹ 2,115
₹ 1,485
₹ 1,968

Car Loan EMI Structure of Hyundai Creta SX

Model Name

Hyundai Creta SX

Price

₹ 14.13 Lakh* (Ex-showroom)

Loan Amount

₹ 14,71,197

Downpayment

₹ 1,64,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 2,55,943
₹ 3,95,643
₹ 3,63,904
₹ 5,67,638
Total Amount Payable
₹ 17,27,140
₹ 18,66,840
₹ 18,35,101
₹ 20,38,835

Monthly EMI

₹ 28,786

₹ 31,114

₹ 21,846

₹ 24,272

EMI / 1 Lakh
₹ 1,957
₹ 2,115
₹ 1,485
₹ 1,968

Car Loan EMI Structure of Hyundai Creta SX Executive Diesel

Model Name

Hyundai Creta SX Executive Diesel

Price

₹ 14.30 Lakh* (Ex-showroom)

Loan Amount

₹ 15,12,822

Downpayment

₹ 1,68,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 2,63,184
₹ 4,06,838
₹ 3,74,201
₹ 5,83,699
Total Amount Payable
₹ 17,76,006
₹ 19,19,660
₹ 18,87,023
₹ 20,96,521

Monthly EMI

₹ 29,600

₹ 31,994

₹ 22,465

₹ 24,959

EMI / 1 Lakh
₹ 1,957
₹ 2,115
₹ 1,485
₹ 1,968

Car Loan EMI Structure of Hyundai Creta SX Diesel

Model Name

Hyundai Creta SX Diesel

Price

₹ 15.09 Lakh* (Ex-showroom)

Loan Amount

₹ 15,71,190

Downpayment

₹ 1,75,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 2,73,338
₹ 4,22,534
₹ 3,88,638
₹ 6,06,219
Total Amount Payable
₹ 18,44,528
₹ 19,93,724
₹ 19,59,828
₹ 21,77,409

Monthly EMI

₹ 30,742

₹ 33,229

₹ 23,331

₹ 25,922

EMI / 1 Lakh
₹ 1,957
₹ 2,115
₹ 1,485
₹ 1,968

Car Loan EMI Structure of Hyundai Creta SX IVT

Model Name

Hyundai Creta SX IVT

Price

₹ 15.61 Lakh* (Ex-showroom)

Loan Amount

₹ 16,20,857

Downpayment

₹ 1,80,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 2,81,979
₹ 4,35,891
₹ 4,00,923
₹ 6,25,382
Total Amount Payable
₹ 19,02,836
₹ 20,56,748
₹ 20,21,780
₹ 22,46,239

Monthly EMI

₹ 31,714

₹ 34,279

₹ 24,069

₹ 26,741

EMI / 1 Lakh
₹ 1,957
₹ 2,115
₹ 1,485
₹ 1,968

Car Loan EMI Structure of Hyundai Creta SX Opt Diesel

Model Name

Hyundai Creta SX Opt Diesel

Price

₹ 16.37 Lakh* (Ex-showroom)

Loan Amount

₹ 16,99,531

Downpayment

₹ 1,89,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 2,95,666
₹ 4,57,048
₹ 4,20,384
₹ 6,55,737
Total Amount Payable
₹ 19,95,197
₹ 21,56,579
₹ 21,19,915
₹ 23,55,268

Monthly EMI

₹ 33,253

₹ 35,943

₹ 25,237

₹ 28,039

EMI / 1 Lakh
₹ 1,957
₹ 2,115
₹ 1,485
₹ 1,968

Car Loan EMI Structure of Hyundai Creta SX Diesel AT

Model Name

Hyundai Creta SX Diesel AT

Price

₹ 16.57 Lakh* (Ex-showroom)

Loan Amount

₹ 17,21,274

Downpayment

₹ 1,91,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 2,99,448
₹ 4,62,896
₹ 4,25,762
₹ 6,64,127
Total Amount Payable
₹ 20,20,722
₹ 21,84,170
₹ 21,47,036
₹ 23,85,401

Monthly EMI

₹ 33,679

₹ 36,403

₹ 25,560

₹ 28,398

EMI / 1 Lakh
₹ 1,957
₹ 2,115
₹ 1,485
₹ 1,968

Car Loan EMI Structure of Hyundai Creta SX Opt IVT

Model Name

Hyundai Creta SX Opt IVT

Price

₹ 16.82 Lakh* (Ex-showroom)

Loan Amount

₹ 17,41,413

Downpayment

₹ 1,94,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 3,02,952
₹ 4,68,312
₹ 4,30,743
₹ 6,71,897
Total Amount Payable
₹ 20,44,365
₹ 22,09,725
₹ 21,72,156
₹ 24,13,310

Monthly EMI

₹ 34,073

₹ 36,829

₹ 25,859

₹ 28,730

EMI / 1 Lakh
₹ 1,957
₹ 2,115
₹ 1,485
₹ 1,968

Car Loan EMI Structure of Hyundai Creta SX Turbo Dualtone

Model Name

Hyundai Creta SX Turbo Dualtone

Price

₹ 16.83 Lakh* (Ex-showroom)

Loan Amount

₹ 17,42,525

Downpayment

₹ 1,94,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 3,03,145
₹ 4,68,611
₹ 4,31,018
₹ 6,72,326
Total Amount Payable
₹ 20,45,670
₹ 22,11,136
₹ 21,73,543
₹ 24,14,851

Monthly EMI

₹ 34,095

₹ 36,852

₹ 25,876

₹ 28,748

EMI / 1 Lakh
₹ 1,957
₹ 2,115
₹ 1,485
₹ 1,968

Car Loan EMI Structure of Hyundai Creta SX Turbo

Model Name

Hyundai Creta SX Turbo

Price

₹ 16.83 Lakh* (Ex-showroom)

Loan Amount

₹ 18,49,844

Downpayment

₹ 2,05,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 3,21,815
₹ 4,97,472
₹ 4,57,564
₹ 7,13,733
Total Amount Payable
₹ 21,71,659
₹ 23,47,316
₹ 23,07,408
₹ 25,63,577

Monthly EMI

₹ 36,194

₹ 39,122

₹ 27,469

₹ 30,519

EMI / 1 Lakh
₹ 1,957
₹ 2,115
₹ 1,485
₹ 1,968

Car Loan EMI Structure of Hyundai Creta SX Opt Diesel AT

Model Name

Hyundai Creta SX Opt Diesel AT

Price

₹ 17.78 Lakh* (Ex-showroom)

Loan Amount

₹ 18,41,829

Downpayment

₹ 2,05,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 3,20,421
₹ 4,95,316
₹ 4,55,581
₹ 7,10,641
Total Amount Payable
₹ 21,62,250
₹ 23,37,145
₹ 22,97,410
₹ 25,52,470

Monthly EMI

₹ 36,037

₹ 38,952

₹ 27,350

₹ 30,387

EMI / 1 Lakh
₹ 1,957
₹ 2,115
₹ 1,485
₹ 1,968

Car Loan EMI Structure of Hyundai Creta SX Opt Turbo Dualtone

Model Name

Hyundai Creta SX Opt Turbo Dualtone

Price

₹ 17.87 Lakh* (Ex-showroom)

Loan Amount

₹ 18,47,177

Downpayment

₹ 2,05,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 3,21,351
₹ 4,96,754
₹ 4,56,904
₹ 7,12,704
Total Amount Payable
₹ 21,68,528
₹ 23,43,931
₹ 23,04,081
₹ 25,59,881

Monthly EMI

₹ 36,142

₹ 39,066

₹ 27,430

₹ 30,475

EMI / 1 Lakh
₹ 1,957
₹ 2,115
₹ 1,485
₹ 1,968

Car Loan EMI Structure of Hyundai Creta SX Opt Turbo

Model Name

Hyundai Creta SX Opt Turbo

Price

₹ 17.87 Lakh* (Ex-showroom)

Loan Amount

₹ 18,47,177

Downpayment

₹ 2,05,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 3,21,351
₹ 4,96,754
₹ 4,56,904
₹ 7,12,704
Total Amount Payable
₹ 21,68,528
₹ 23,43,931
₹ 23,04,081
₹ 25,59,881

Monthly EMI

₹ 36,142

₹ 39,066

₹ 27,430

₹ 30,475

EMI / 1 Lakh
₹ 1,957
₹ 2,115
₹ 1,485
₹ 1,968

About Hyundai Creta

The Hyundai Creta is currently in its second generation, with its debut at the 2020 Auto Show. It's the D-monarch, segment's with 14 versions spanning three engine and transmission options. It has a three-dimensional cascading grille with muscle-like vertical and horizontal lines, as well as a sculpted bumper with skid plates on the exterior. Its overall beauty is enhanced by flared wheel arches with skillfully designed crease lines.

To give the Hyundai Creta SUV a futuristic flair, it features two boomerang-shaped LED DRLs, LED Head Lamps, and strategically placed fog lamps. The new Hyundai Creta comes with class-leading features like as a panoramic sunroof, LED headlights, and an improved Bluelink 1.5 system. The car was seen with blacked-out windows and windscreens, and further information about the inside will be revealed closer to the vehicle's introduction date.

The Hyundai Creta is available with both petrol and diesel engines that are BS6 certified. The 1.5-litre petrol engine produces 112bhp/144Nm and is available with either a CVT or a six-speed manual transmission. The more interesting petrol engine is a 1.4-litre Turbo GDi with 138bhp/242Nm and just a seven-speed DCT transmission. The 1.5-litre four-cylinder diesel engine produces 113bhp/250Nm and is available with either a six-speed manual or a six-speed automatic transmission.

Since its premiere in 2015, the Hyundai Creta has been the most successful car in the class, owing to its mix of powerful engines and extensive feature set. The Kia Seltos, Nissan Kicks, Renault Duster and Captur, as well as the MG Hector and Tata Harrier, are also competitors.

Car Loan EMI Table

Loan amount (Rs.)
Interest rate
EMI for 2 years (Rs.)
EMI for 3 years (Rs.)
EMI for 4 years (Rs.)
EMI for 5 years (Rs.)
EMI for 6 years (Rs.)
EMI for 7 years (Rs.)
1 lakh
9.75%
₹ 4,603
₹ 3,215
₹ 2,524
₹ 2,112
₹ 1,840
₹ 1,647
5 lakh
9.75%
₹ 23,015
₹ 16,075
₹ 12,621
₹ 10,562
₹ 9,200
₹ 8,236
10 lakh
9.75%
₹ 46,030
₹ 32,150
₹ 25,243
₹ 21,124
₹ 18,400
₹ 16,472
15 lakh
9.75%
₹ 69,044
₹ 48,225
₹ 37,864
₹ 31,686
₹ 27,600
₹ 24,708
20 lakh
9.75%
₹ 92,059
₹ 64,300
₹ 50,485
₹ 42,248
₹ 36,800
₹ 32,945
25 lakh
9.75%
₹ 1,15,074
₹ 80,375
₹ 63,107
₹ 52,811
₹ 46,000
₹ 41,181
30 lakh
9.75%
₹ 1,38,089
₹ 96,450
₹ 75,728
₹ 63,373
₹ 55,200
₹ 49,417
35 lakh
9.75%
₹ 1,61,104
₹ 1,12,525
₹ 88,349
₹ 73,935
₹ 64,400
₹ 57,653
Car Loan EMI Calculator

The Benefits of Using an EMI Calculator for a Car Loan

  • The Following is a breakdown of the due amount: The EMI calculator for a car loan allows you to determine the processing costs, interest paid, total amount due, and principle amount.
  • Your Budget Can Be Planned: Once you know how much EMI you'll have to pay, you can make a budget. If the loan amount is substantial, you may want to consider a longer repayment period. The vehicle loan EMI calculator can help you figure out these data.
  • Accuracy: The answers presented on the calculator are correct based on the information entered on the calculator. The results of manual computations may not be correct.
  • Saves Time: The main goal of the EMI calculator for a car loan is to save time. The results are presented relatively soon when the appropriate details are submitted.
  • No Limit: There is no limit to how many times you may use the calculator. As a result, you utilise the calculator to experiment with various options. This might assist you in determining the best lender and the required down payment.
  • Compare: You can compare the EMIs for different numbers because the calculator has no restriction on how many times it can be used.

New Car Loan Interest Rates Comparison Offered by Top Lenders

Name of the Lender Interest Rate (p.a.) Loan Amount Processing Fee
Union Bank of India 7.40% onwards Up to ₹ 125 lakh 0.25% to 0.50% of the loan amount
IDBI Bank 7.35% onwards (floating) Up to ₹ 25 lakh -
Axis Bank 7.45% onwards ₹ 1 lakh onwards ₹ 3,500 to ₹ 5,500
State Bank of India 7.20% onwards Up to 48 times of monthly income Nil (Until 31 January 2022)
Jammu And Kashmir Bank

RLLR + 0.75% onwards (floating)

RLLR + 1.50% onwards (fixed)

₹ 50 lakh 0.5% of loan amount Min: ₹ 1,500
Canara Bank Car Loan 7.30% onwards Up to 90% of the car's value 0.25% of loan amount Min: ₹ 1,000 Max: ₹ 5,000
Federal Bank Car Loan 8.50% onwards Up to 100% of the car's ex-showroom price ₹ 1,500 to ₹ 2,500
Bank of Baroda 7.00% onwards ₹ 1,500 (plus GST) 0.5% of loan amount Max: ₹ 10,000
Bank of India Car Loan 7.35% onwards ₹ 200 lakh 0.25% of loan amount

Car Loan Eligibility

Do you have questions regarding your auto loan eligibility and what you can do to improve your chances of being approved? BankBazaar provides you with all of the information you need about vehicle loan eligibility from the most reputable institutions. Get a trustworthy guide to selecting the best auto loan for you so you can make the best decision and apply for the best car loan right now. Your eligibility for a vehicle loan may differ depending on the lender, however many will look for the following criteria:

Particulars Details
Minimum Age of the Applicant 18 years
Maximum Age of the Applicant 60 years for salaried applicants and 65 years for self-employed applicants
Minimum Annual Income ₹ 3 lakh
Car Model Any approved car model
Type of Employment Salaried or self-employed
Country or Place of Residence India (rural/semi-urban/urban areas)
Duration of Stay in Current Residence A minimum of 1 year

How is EMI determined

The EMI for any type of loan is essentially calculated using a formula. The formula is as follows:

E = P x R x (1+R)^n / {(1+R)^n – 1}

where ‘E’ stands for the EMI you owe,

‘P’ stands for the principal amount,

‘R’ stands for the interest rate applicable to your car loan,

and ‘n’ stands for the tenure of the car loan (in months).

Disclaimer: The EMI Calculator's computation is based on the information you gave and is only intended to be used as a guide. The figures in this computation are in Indian Rupees and have been rounded to the nearest whole number. Monthly payments are estimated and do not include any processing or other fees that may apply depending on the financial institution / banks. All loan amounts are based on non-commercial use and are contingent on credit clearance from a third-party lender. Depending on the kind and use of the car, regional lender restrictions, and the quality of your credit, the actual down payment and resultant monthly payments may vary. For a precise monthly payment, check with your dealer.

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