Corporation Bank Car Loan – Interest Rates 2018, EMI Eligibility Calculator

Corporation Bank Car Loan: 8.75% Interest Rates April ✓ Eligibility Low EMI Rs.1596 ✓ Processing fee ✓ Documents ✓ Loan for women, NRI, Pensioners, Used / Second hand cars, Loyalty schemes of Corp Bank at deal4loans.

Corporation Bank Car Loan Interest Rates 2018

Interest Rates 8.75% – 9.50%
Repayment Period 7 Years
Lowest EMI per Lakh Rs. 1,596
Maximum loan amount Upto 1 Crore
PROCESSING CHARGES No processing Charges
Prepayment Charges -NIL-

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Professional Details
Loan Amount

Occupation

Annual Income

City

Minimum NET annual income of Rs.0.50 lakhs for two/three wheelers and Rs.1.20 lakhs for four wheelers.

Eligibility Required for Corporation Bank Car Loan

  • Individuals, Professionals/ Businessmen/ Salaried class & Others, NRIs, Sole Proprietorships, Partnership Firms, HUFs, Companies/Trusts/Institutions are eligible.
  • Spouse/Close relative may join to supplement repayment capacity
  • In case of Company/Firm/Trust, Directors/Partners/Trustees having regular/ independent income may join as co-applicant/s to supplement repayment capacity.
  • In case of salaried class, applicant/co applicant shall be confirmed in the service.

Corporation Bank Car loan EMI Calculator

Corporation Bank car loan emi calculator helps you to know how much emi per month you have to pay against the loan taken for purchasing the new car. you can select or choose the right loan amount as per your financial condition and it helps you in selecting the car variant as per your paying capacity of EMI. For calculation you have to just select the right loan amount, Interest Rate and Repayment period.

Calculate Loans EMI Online

Loan Amount
Interest Rate (Reducing) % Per Annum
Loan Tenure (in Months)
 
Monthly EMI
Total Amount with Interest
Total Interest Amount
Yearly Interest Amount

For an example, You can take a loan amount of Rs.7 lakh for Dzire or Honda Amaze car for 5 years repayment period at 8.75% rate of interest than you emi calculations are as follows:

  • Loan Amount = Rs. 7,00,000
  • Monthly Installment (EMI) = Rs. 14,446
  • Total Interest Amount = Rs. 1,66,764
  • Total Amount (Principal + Interest) = Rs. 8,66,764
Year Principal Interest Balance Amount
1 Rs. 116,709 Rs. 56,643 Rs. 583,291
2 Rs. 127,341 Rs. 46,011 Rs. 455,950
3 Rs. 138,940 Rs. 34,412 Rs. 317,010
4 Rs. 151,597 Rs. 21,755 Rs. 165,413
5 Rs. 165,518 Rs. 7,943 Rs. 0

Loan Amount

  1. Two Wheeler : Rs.1 lakh per vehicle.
  2. Three Wheeler: Rs.2 lakhs per vehicle
  3. Four Wheeler: Rs.1 crore per vehicle.

Prepayment charges – NIL

Repayment Period:

  1. For Two Wheeler Loan – 36 Months Maximum
  2. For three wheelers – 60 Months Maximum
  3. For 4 Wheeler – 84 Months Maximum