Interested in financial products
Fetching your latest bureau report...
Analyzing your bureau report...
Setting up your CreditMantri profile...
This is taking longer than usual. Please stay with us...

Central Bank of India Car Loan EMI Calculator

The new age banking has ensured that taking a car loan is a hassle-free experience. It is in fact one of the easier personal loans to get. This has helped in buying a car for many within your hands’ grasp. A car loan helps you buy a car of your choice without taking away most of your savings. The car loan is to be repaid through EMIs (Equated Monthly Instalments) with interest and a specified loan tenure. This monthly payment can be calculated through the Central Bank of India car loan EMI calculator. This kind of planning helps in managing your finances prudently especially during the loan period. Read on for more information on car loans and Central Bank of India loan calculator.

What is a Car Loan EMI calculator?

A car loan EMI calculator is an online too that helps you work out the monthly payments of your car loan and thereby manage your overall finances. This car loan calculator is available on all major bank websites and leading financial services provider like It is quite simple to use as you need to enter the loan amount, interest rate and the duration of the loan. It will generate the estimated monthly payments that you need to make toward the loan repayments. You can also use many permutations and combinations of the inputs to arrive at a comfortable EMI number.

What is a car loan and how is an EMI calculated?

A car loan is basically money borrowed to buy a car. You might not have enough funds to purchase a car of your choice. A bank or a lending institution lends the money that is required to buy a car and you can return the principal amount with interest over a period of time. Normally, the car that you buy is considered as the security for the loan and an additional collateral is required. If you default in repaying the loan, the lender or the bank has the right to take back the car from you and sell it to close the loan.

The EMIs are decided on the basis of the principal amount being taken as loan, the duration of the car loan and the interest rate applicable. It is a constant amount during the tenure of the loan and can be calculated through the Central Bank of India loan calculator. The rate of interest at which you would be taking the car loan is an important component of the monthly outflow. As you start repaying the loan amount, the interest component reduces and the principal amount becomes larger chunk of your repayment amount.

EMIs are calculated on the basis of your loan eligibility, current financial status, interest rates, principal amount that you intend to take and the duration of the loan. You can work out the expected EMIs by using the Central Bank of India loan calculator and plan judicially for your future finances.

How does Central Bank of India car loan calculator work?

The Central Bank of India EMI calculator helps you understand the monthly payments to be made to close the loan taken. It is quite a simple tool to use wherein the principal amount being borrowed, interest rate and the intended period of loan is to be entered. The EMI calculator shows the estimated monthly payment to be done. It is also advisable to request the Central Bank of India car loan statement on a periodic basis to keep track of payments and balance loan amount.

Features of Central Bank of India car loan EMI calculator

  • The Central Bank of India EMI calculator is simple and easy to understand. You would just need to enter the basic details of the loan and the EMI calculator will generate the monthly payments.
  • If the tenure of the loan is longer, then your EMI would be lesser on a monthly basis. You can change the tenure of the car loan and calculate the EMIs to suit your own needs.
  • The Central Bank of India car loan interest rates are quite competitive in the market.
  • You can also change the principal amount or interest rate or the duration of the loan while calculating the EMI many times over till you can reach a comfortable EMI figure.
  • The Central Bank of India car loan EMI calculator is available for usage free of any charges.

Factors affecting Car Loan EMI Calculator

Principal amount of Loan

In order to maximize your financial benefits while taking a car loan, it is important to assess your current financial situation. This includes having regular income, paying off dues and other financial liabilities. Making a sizeable down payment to book a car will help in reducing the principal amount of loan. This in turn impacts the amount of EMI to be paid and not be a burden on your finances in the future.

Duration of the loan

The loan tenure in which you will repay the loan amount with the interest is one of the most critical factors. If the loan tenure is less, then your EMIs will be higher. In case, you are looking to keep your monthly expenses low, then it is advisable to take a longer duration of car loan. The maximum tenure of the car loan offered by Central Bank of India is 84 months.

Rate of Interest

A car loan repayment includes the interest amount as well. There is a certain amount over and above the principal amount that needs to be paid. This interest charge can be either fixed or floating. If you choose the fixed rate of interest, the interest charges remain constant during the loan tenure. This is an advantage if you want a total fixed amount to be paid out every month.

Why does a credit score matter?

One can apply for Central Bank of India car loan online however, before you do so, it is quite important to assess your eligibility for the car loan. One of the most important points that the banks consider while offering a car loan is the credit score. If this score is low, there are high chances of rejection of your application. It is advisable to pay off your dues and existing debts and then apply for a car loan.

You can very conveniently check your credit score online through bank websites or financial service providers like A credit score assessment takes into account your current liabilities like home loans, personal loans etc. and your credit history like loan repayments, credit card payments etc. If you have a good credit score, it is beneficial in negotiating better car loan terms with the bank.

Also Read: What is a good CIBIL™ Score for Car Loan in India.

Growing demand for cars in India

Growing population, more women workforce, younger earners and rising disposable incomes is changing the landscape of the auto industry in India. More and more global car brands want a share of this growing market. This has bombarded the car market with many car models, making a potential spoilt with choices. It is not just purchase of the car but after sales service, maintenance, insurance and accessories that is making its influence on the purchase decision.

The ownership of a 4-wheeler has been made easier & affordable with accessible car loans today. For example, one call to the Central Bank of India car loan customer care will give you all details of a car loan and a representative is assigned to you to make the entire experience with the bank a hassle free one.

People also have easy access to new car models coming into the market and hence, are able to have the foresight to manage their finances to buy a car. Potential owners are aware that car dealerships have tie-ups with banks to quickly aid purchase decisions with attractive car loans. Quick turnaround times are becoming a win-win situation for all. One can easily access information on both cars and loans at the tip of the fingers by visiting their websites, mobile applications, social media or toll free number.

Car loan EMI calculator summary

A car loan EMI calculator is immensely useful in determining the monthly pay-outs for repaying your car loan. This online tool is available on most bank websites and financial service providers like CreditMantri. The principal loan amount, interest rate and loan tenure needs to be fed in and the calculator will generate the estimated EMI. offers different calculators like loan calculator and income tax calculator. The calculator also shows the detailed break-up of the monthly payment like the loan amount and the interest component. The EMI calculator can be used as many times as you want with different input combinations to arrive at a comfortable EMI figure.
×Thank you! Your comment will be reviewed and posted shortly.
Corporate Agent (Composite)

CreditMantri Finserv Private Limited



IRDAI Registration Number


Valid Till



CreditMantri Finserve Private Limited Unit No. B2, No 769, Phase-1, Lower Ground Floor, Spencer Plaza, Anna Salai, Chennai - 600002

Copyright © 2024 CreditMantri