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Tata Harrier Car Loan EMI Calculator

Best Tata Harrier Car Loan EMI Calculator With Downpayment - Check out the Cheapest Tata Harrier 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 Tata 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.

Tata Harrier

The EMI for a Tata Harrier starts at ₹ 49,510 per month for a 60-month term at 9.8 percent for a loan amount of ₹ 21.19 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 Harrier.

Tata Harrier Down Payment and EMI

Tata Harrier VARIANTS
LOAN @ RATE%
DOWN PAYMENT
EMI AMOUNT (60 MONTHS)
EMI AMOUNT (84 MONTHS)
Tata Harrier XE
9.8%
₹ 1,81,000
₹ 34,464
₹ 26,885
Tata Harrier XM
9.8%
₹ 1,97,000
₹ 37,570
₹ 29,308
Tata Harrier XT
9.8%
₹ 2,12,000
₹ 40,316
₹ 31,450
Tata Harrier XMA AT
9.8%
₹ 2,12,000
₹ 40,451
₹ 31,556
Tata Harrier XT plus
9.8%
₹ 2,21,000
₹ 42,093
₹ 32,837
Tata Harrier XT plus Dark Edition
9.8%
₹ 2,25,000
₹ 42,747
₹ 33,347
Tata Harrier XZ
9.8%
₹ 2,28,000
₹ 43,299
₹ 33,777
Tata Harrier XZ Dual Tone
9.8%
₹ 2,30,000
₹ 43,748
₹ 34,128
Tata Harrier XTA Plus
9.8%
₹ 2,36,000
₹ 44,974
₹ 35,084
Tata Harrier XTA Plus Dark Edition AT
9.8%
₹ 2,40,000
₹ 45,628
₹ 35,594
Tata Harrier XZ Plus
9.8%
₹ 2,42,000
₹ 46,078
₹ 35,945
Tata Harrier XZA AT
9.8%
₹ 2,43,000
₹ 46,179
₹ 36,024
Tata Harrier XZ Plus Dual Tone
9.8%
₹ 2,44,000
₹ 46,527
₹ 36,296
Tata Harrier XZA Dual Tone AT
9.8%
₹ 2,45,000
₹ 46,629
₹ 36,375
Tata Harrier XZ Plus Dark Edition
9.8%
₹ 2,46,000
₹ 46,731
₹ 36,455
Tata Harrier XZA Plus AT
9.8%
₹ 2,57,000
₹ 48,836
₹ 38,096
Tata Harrier XZA Plus Dual Tone AT
9.8%
₹ 2,59,000
₹ 49,285
₹ 38,447
Tata Harrier XZA Plus Dark Edition AT
9.8%
₹ 2,60,000
₹ 49,510
₹ 38,623

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 Tata Harrier XE

Model Name

Tata Harrier XE

Price

₹ 14.39 Lakh* (Ex-Showroom)

Loan Amount

₹ 16,29,612

Downpayment

₹ 1,81,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 2,83,502
₹ 4,38,245
₹ 4,03,089
₹ 6,28,760
Total Amount Payable
₹ 19,13,114
₹ 20,67,857
₹ 20,32,701
₹ 22,58,372

Monthly EMI

₹ 31,885

₹ 34,464

₹ 24,199

₹ 26,885

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

Car Loan EMI Structure of Tata Harrier XM

Model Name

Tata Harrier XM

Price

₹ 15.79 Lakh* (Ex-Showroom)

Loan Amount

₹ 17,76,467

Downpayment

₹ 1,97,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 3,09,050
₹ 4,77,739
₹ 4,39,414
₹ 6,85,422
Total Amount Payable
₹ 20,85,517
₹ 22,54,206
₹ 22,15,881
₹ 24,61,889

Monthly EMI

₹ 34,759

₹ 37,570

₹ 26,380

₹ 29,308

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

Car Loan EMI Structure of Tata Harrier XT

Model Name

Tata Harrier XT

Price

₹ 17.04 Lakh* (Ex-Showroom)

Loan Amount

₹ 19,06,292

Downpayment

₹ 2,12,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 3,31,636
₹ 5,12,652
₹ 4,71,526
₹ 7,35,513
Total Amount Payable
₹ 22,37,928
₹ 24,18,944
₹ 23,77,818
₹ 26,41,805

Monthly EMI

₹ 37,299

₹ 40,316

₹ 28,307

₹ 31,450

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

Car Loan EMI Structure of Tata Harrier XMA AT

Model Name

Tata Harrier XMA AT

Price

₹ 17.09 Lakh* (Ex-Showroom)

Loan Amount

₹ 19,12,690

Downpayment

₹ 2,12,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 3,32,749
₹ 5,14,372
₹ 4,73,109
₹ 7,37,982
Total Amount Payable
₹ 22,45,439
₹ 24,27,062
₹ 23,85,799
₹ 26,50,672

Monthly EMI

₹ 37,424

₹ 40,451

₹ 28,402

₹ 31,556

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

Car Loan EMI Structure of Tata Harrier XT Plus

Model Name

Tata Harrier XT Plus

Price

₹ 17.84 Lakh* (Ex-Showroom)

Loan Amount

₹ 19,90,352

Downpayment

₹ 2,21,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 3,46,259
₹ 5,35,258
₹ 4,92,319
₹ 7,67,946
Total Amount Payable
₹ 23,36,611
₹ 25,25,610
₹ 24,82,671
₹ 27,58,298

Monthly EMI

₹ 38,944

₹ 42,093

₹ 29,556

₹ 32,837

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

Car Loan EMI Structure of Tata Harrier XZA Plus Dark Edition AT

Model Name

Tata Harrier XZA Plus Dark Edition AT

Price

₹ 21.19 Lakh* (Ex-Showroom)

Loan Amount

₹ 23,41,040

Downpayment

₹ 2,60,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 4,07,268
₹ 6,29,567
₹ 5,79,062
₹ 9,03,254
Total Amount Payable
₹ 27,48,308
₹ 29,70,607
₹ 29,20,102
₹ 32,44,294

Monthly EMI

₹ 45,805

₹ 49,510

₹ 34,763

₹ 38,623

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

Car Loan EMI Structure of Tata Harrier XT Plus Dark Edition

Model Name

Tata Harrier XT Plus Dark Edition

Price

₹ 18.14 Lakh* (Ex-Showroom)

Loan Amount

₹ 20,21,249

Downpayment

₹ 2,25,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 3,51,634
₹ 5,43,567
₹ 4,99,961
₹ 7,79,867
Total Amount Payable
₹ 23,72,883
₹ 25,64,816
₹ 25,21,210
₹ 28,01,116

Monthly EMI

₹ 39,548

₹ 42,747

₹ 30,014

₹ 33,347

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

Car Loan EMI Structure of Tata Harrier XZ

Model Name

Tata Harrier XZ

Price

₹ 18.39 Lakh* (Ex-Showroom)

Loan Amount

₹ 20,47,330

Downpayment

₹ 2,28,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 3,56,172
₹ 5,50,581
₹ 5,06,413
₹ 7,89,930
Total Amount Payable
₹ 24,03,502
₹ 25,97,911
₹ 25,53,743
₹ 28,37,260

Monthly EMI

₹ 40,058

₹ 43,299

₹ 30,402

₹ 33,777

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

Car Loan EMI Structure of Tata Harrier XZ Dual Tone

Model Name

Tata Harrier XZ Dual Tone

Price

₹ 18.59 Lakh* (Ex-Showroom)

Loan Amount

₹ 20,68,596

Downpayment

₹ 2,30,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 3,59,871
₹ 5,56,300
₹ 5,11,673
₹ 7,98,135
Total Amount Payable
₹ 24,28,467
₹ 26,24,896
₹ 25,80,269
₹ 28,66,731

Monthly EMI

₹ 40,474

₹ 43,748

₹ 30,717

₹ 34,128

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

Car Loan EMI Structure of Tata Harrier XTA Plus

Model Name

Tata Harrier XTA Plus

Price

₹ 19.14 Lakh* (Ex-Showroom)

Loan Amount

₹ 21,26,575

Downpayment

₹ 2,36,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 3,69,958
₹ 5,71,892
₹ 5,26,014
₹ 8,20,506
Total Amount Payable
₹ 24,96,533
₹ 26,98,467
₹ 26,52,589
₹ 29,47,081

Monthly EMI

₹ 41,609

₹ 44,974

₹ 31,578

₹ 35,084

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

Car Loan EMI Structure of Tata Harrier XTA Plus Dark Edition AT

Model Name

Tata Harrier XTA Plus Dark Edition AT

Price

₹ 19.44 Lakh* (Ex-Showroom)

Loan Amount

₹ 21,57,472

Downpayment

₹ 2,40,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 3,75,333
₹ 5,80,201
₹ 5,33,656
₹ 8,32,427
Total Amount Payable
₹ 25,32,805
₹ 27,37,673
₹ 26,91,128
₹ 29,89,899

Monthly EMI

₹ 42,213

₹ 45,628

₹ 32,037

₹ 35,594

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

Car Loan EMI Structure of Tata Harrier XZ Plus

Model Name

Tata Harrier XZ Plus

Price

₹ 19.64 Lakh* (Ex-Showroom)

Loan Amount

₹ 21,78,737

Downpayment

₹ 2,42,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 3,79,032
₹ 5,85,920
₹ 5,38,916
₹ 8,40,632
Total Amount Payable
₹ 25,57,769
₹ 27,64,657
₹ 27,17,653
₹ 30,19,369

Monthly EMI

₹ 42,629

₹ 46,078

₹ 32,353

₹ 35,945

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

Car Loan EMI Structure of Tata Harrier XZA AT

Model Name

Tata Harrier XZA AT

Price

₹ 19.69 Lakh* (Ex-Showroom)

Loan Amount

₹ 21,83,553

Downpayment

₹ 2,43,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 3,79,870
₹ 5,87,215
₹ 5,40,108
₹ 8,42,490
Total Amount Payable
₹ 25,63,423
₹ 27,70,768
₹ 27,23,661
₹ 30,26,043

Monthly EMI

₹ 42,724

₹ 46,179

₹ 32,425

₹ 36,024

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

Car Loan EMI Structure of Tata Harrier XZ Plus Dual Tone

Model Name

Tata Harrier XZ Plus Dual Tone

Price

₹ 19.84 Lakh* (Ex-Showroom)

Loan Amount

₹ 22,00,002

Downpayment

₹ 2,44,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 3,82,732
₹ 5,91,638
₹ 5,44,176
₹ 8,48,836
Total Amount Payable
₹ 25,82,734
₹ 27,91,640
₹ 27,44,178
₹ 30,48,838

Monthly EMI

₹ 43,046

₹ 46,527

₹ 32,669

₹ 36,296

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

Car Loan EMI Structure of Tata Harrier XZA Dual Tone AT

Model Name

Tata Harrier XZA Dual Tone AT

Price

₹ 19.89 Lakh* (Ex-Showroom)

Loan Amount

₹ 22,04,817

Downpayment

₹ 2,45,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 3,83,570
₹ 5,92,933
₹ 5,45,367
₹ 8,50,694
Total Amount Payable
₹ 25,88,387
₹ 27,97,750
₹ 27,50,184
₹ 30,55,511

Monthly EMI

₹ 43,140

₹ 46,629

₹ 32,740

₹ 36,375

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

Car Loan EMI Structure of Tata Harrier XZ Plus Dark Edition

Model Name

Tata Harrier XZ Plus Dark Edition

Price

₹ 19.94 Lakh* (Ex-Showroom)

Loan Amount

₹ 22,09,634

Downpayment

₹ 2,46,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 3,84,408
₹ 5,94,229
₹ 5,46,559
₹ 8,52,553
Total Amount Payable
₹ 25,94,042
₹ 28,03,863
₹ 27,56,193
₹ 30,62,187

Monthly EMI

₹ 43,234

₹ 46,731

₹ 32,812

₹ 36,455

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

Car Loan EMI Structure of Tata Harrier XZA Plus AT

Model Name

Tata Harrier XZA Plus AT

Price

₹ 20.89 Lakh* (Ex-Showroom)

Loan Amount

₹ 23,09,143

Downpayment

₹ 2,57,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 4,01,719
₹ 6,20,989
₹ 5,71,173
₹ 8,90,947
Total Amount Payable
₹ 27,10,862
₹ 29,30,132
₹ 28,80,316
₹ 32,00,090

Monthly EMI

₹ 45,181

₹ 48,836

₹ 34,289

₹ 38,096

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

Car Loan EMI Structure of Tata Harrier XZA Plus Dual Tone AT

Model Name

Tata Harrier XZA Plus Dual Tone AT

Price

₹ 21.09 Lakh* (Ex-Showroom)

Loan Amount

₹ 23,30,408

Downpayment

₹ 2,59,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 4,05,419
₹ 6,26,708
₹ 5,76,433
₹ 8,99,151
Total Amount Payable
₹ 27,35,827
₹ 29,57,116
₹ 29,06,841
₹ 32,29,559

Monthly EMI

₹ 45,597

₹ 49,285

₹ 34,605

₹ 38,447

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

Car Loan EMI Structure of Tata Harrier XZA Plus Dark Edition AT

Model Name

Tata Harrier XZA Plus Dark Edition AT

Price

₹ 21.19 Lakh* (Ex-Showroom)

Loan Amount

₹ 23,41,040

Downpayment

₹ 2,60,000

Interest Rates

Min 6.5%

Max 9.8%

Min 6.5%

Max 9.8%

Tenure
For 5 Years
For 7 Years
Total Interest Payable
₹ 4,07,268
₹ 6,29,567
₹ 5,79,062
₹ 9,03,254
Total Amount Payable
₹ 27,48,308
₹ 29,70,607
₹ 29,20,102
₹ 32,44,294

Monthly EMI

₹ 45,805

₹ 49,510

₹ 34,763

₹ 38,623

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

About Tata Harrier

The Tata Harrier is available in different variants divided into six - XE, XM, XT, XT+, XZ, and XZ+. In January 2019, Tata Motors debuted the Harrier in India. The manufacturer first announced the automatic gearbox in February 2020, together with a diesel engine and manual transmission.

The Tata Harrier is driven by a 2.0-liter Kryotec diesel engine with 168 horsepower and 350 Nm of torque. It has a six-speed manual transmission and a six-speed automatic transmission. The Tata Harrier has a specific ESP system with selectable settings for different circumstances – normal, wet, and rough – despite the lack of an AWD variant. The Tata Harrier has a length of 4,598mm, a height of 1,714mm, a width of 1,894mm, and a wheelbase of 2,741mm.

The Tata Harrier is equipped with a pair of low-mounted headlights and elegant high-mounted DRLs, which is said to be the current style. The silhouette of the Tata Harrier is defined by flaring arches, a sloping roof, and a floating appearance on the D-pillar. It has contoured tailgate and sleek but sharp LED tail lights at the back.

The dashboard, which has a wood-finished insert running across it, is dominated by the 8.8-inch floating infotainment system. The Tata Harrier features include an eight-way adjustable driver seat and a four-way adjustable co-driver seat, leather upholstery, dual-zone temperature control, electronic ORVMs, a cooled storage box, an electric sunroof, and several storage areas throughout.

Calypso Red, Camo Green, Orcus White, Daytona Grey, and Oberon Black are the five exterior colours available. With Orcus White and Calypso Red, a contrast black roof is also an option. The Tata Harrier features a seating configuration that can accommodate five people. In the SUV sector, the Tata Harrier competes against the MG Hector, Hyundai Creta, and Kia Seltos.

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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