Axis Bank Car Loan EMI Calculator
The Axis Bank Car Loan EMI Calculator is an efficient tool designed to help customers estimate their monthly repayments for a car loan. Whether you are planning to purchase a new or pre-owned vehicle, this calculator makes budgeting easier by providing accurate EMI details.
What is Car Loan EMI?
EMI, or Equated Monthly Installment, is the fixed amount a borrower pays every month toward loan repayment. It includes both the interest and a portion of the principal amount.
Car Loan EMI Formula
EMI = [P × R × (1 + R)^N] / [(1 + R)^N – 1]
- P = Loan amount
- R = Monthly interest rate (Annual rate ÷ 12 ÷ 100)
- N = Loan tenure in months
How to Use Axis Bank Car Loan EMI Calculator
- Visit: Axis Car Loan EMI Calculator
- Enter your loan amount
- Select loan tenure in months
- Set the applicable interest rate
- Click “Calculate” to view EMI, total interest, and total repayment
Features of Axis Bank Car Loan EMI Calculator
- Quick, accurate, and user-friendly interface
- Accessible 24×7 from any device
- Instant results with real-time updates
- No login or personal details required
Axis Bank Car Loan Highlights
- Loan Amount: Up to 100% of ex-showroom price
- Interest Rate: Starting from 8.75% p.a.*
- Tenure: Up to 7 years
- Minimal documentation and quick disbursal
- Prepayment and foreclosure options available
Example Calculation
If you borrow ₹6,00,000 at 9% interest for 5 years (60 months), your EMI would be approximately ₹12,454. The total interest payable would be around ₹1,47,240.
Frequently Asked Questions
Q: Can I foreclose my Axis Bank car loan early?
Yes, Axis Bank allows early foreclosure and part prepayment. Charges may apply depending on your agreement.
Q: Does Axis Bank offer loans for used cars?
Yes, Axis Bank provides car loans for both new and pre-owned vehicles.
Q: Is the EMI fixed throughout the tenure?
Yes, if you opt for a fixed interest rate. For floating rate loans, EMI may vary based on rate changes.
Useful Links
- Axis Car Loan EMI Calculator
- Axis Car Loan Page