• Bank of Baroda Car Loan EMI Calculator

    • You can visit the BankBazaar website to compute the car loan EMI payable depending on the interest rate charged.
    • The lowest interest rate charged by Bank of Baroda is 9.2%.
    • You can receive a monthly installment at an affordable rate of Rs.810 per lakh.
    • For a tenure of 5 years, the optimum EMI payable is Rs.1,043.
    • For a tenure of 2 years, the optimum EMI payable is Rs.2,289.
    • The factors that determine the car loan EMI payable are the loan amount, repayment tenure, interest rate, credit score, etc.

    For customers wishing to avail a car loan to fund their dream cars, the first thing that they would wish to know is the EMI they would have to pay every month towards repaying the loan. With the Bank of Baroda Car Loan EMI Calculator customers can calculate the EMI they would have to pay in a few seconds. Customers can also check their eligibility for a car loan on the BankBazaar website.

    How to use BankBazaar Bank of Baroda EMI calculator to understand your car loan repayment?

    To be certain of their debt-to-income ratio - customers can use the Bank of Baroda Car Loan EMI Calculator to decide the tenure of the loan. The Bank of Baroda Car Loan EMI Calculator on the BankBazaar website gives customers EMI calculations in seconds and in addition displays the amortisation table - a graphical representation of the loan breakup and the progress of the loan.

    Bank of Baroda EMI Calculator – How does it work?

    To calculate the car loan EMI from Bank of Baroda, customers will have to enter the below mentioned components of a car loan. The EMI calculator will give the customer an accurate result in seconds after the details have been entered.

    • Loan amount - To select the loan amount one wishes to avail from the bank, customers have to drag the pointer on a scale to arrive at the loan amount you. For example, Rs.1 lakh, Rs.5 lakh, Rs.10 lakh.
    • Tenure - Choose the loan tenure with the help of the pointer.
    • Interest rate - Enter the interest rate that is offered by Bank of Baroda on car loans.
    • Processing fee - The processing fee charged by Bank of Baroda has to be entered.
    • Pre-payment - Customers can choose whether they want to make the EMI calculation with or without the prepayment.
      • If the customers does not want to include the prepayment charges in the EMI calculation, he/she can directly click on “calculate”.
      • If one chooses to make pre-payments, he/she will have to provide the information listed below:
        • How the prepayment applies
        • Prepayment fee
        • Prepayment amount
        • Prepayment frequency

    Click on the ‘Calculate’ once the information has been entered. The page will also display the amortisation graph.

    Currently, the rate of interest on car loans offered by Bank of Baroda is 9.75% (floating). Let us calculate the EMIs a customer would be required to pay for different tenures. We will also assume that the processing fee is 2%.

    Loan amount (Rs.) Interest rate Processing fee 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.)
    10 lakh 9.75% 2% 46,030 32,150 25,243 21,124 18,400 16,472
    15 lakh 9.75% 2% 69,044 48,225 37,864 31,686 27,600 24,708
    20 lakh 9.75% 2% 92,059 64,300 50,485 42,248 36,800 32,945
    25 lakh 9.75% 2% 1,15,074 80,375 63,107 52,811 46,000 41,181
    30 lakh 9.75% 2% 1,38,089 96,450 75,728 63,373 55,200 49,417
    35 lakh 9.75% 2% 1,61,104 1,12,525 88,349 73,935 64,400 57,653
    40 lakh 9.75% 2% 1,84,118 1,28,600 1,00,971 84,497 73,600 65,889

    *Interest rates are subject to change following the inclusion of GST from July 1, 2017.

    Features and Benefits

    The Bank of Baroda car loan EMI calculator helps customers plan their finances well in advance by giving them accurate results in seconds. Apart from this, listed below are some of the features and benefits of the Bank of Baroda car loan EMI calculator.

    • Through the BankBazaar user-friendly EMI calculator, customers will have EMI results in seconds.
    • If they have any queries, or issues regarding the EMI Calculator, customers can contact the support team of BankBazaar.
    • On the BankBazaar website, customers can make any number of calculations - all free of cost.
    • Once the calculation has been made, the BankBazaar website displays the amortisation table - a graphical representation of the loan breakup and progress.
    • On this financial tool, customers can enter different interest rates, processing fees, tenure and so on, to decide which tenure and loan amount will suit their current financial situation.
    • Customers can make EMI calculations using the prepayment charges as well.


    1. Can I change the interest rate and tenure using the Bank of Baroda EMI car loan calculator?
    2. Yes you can change the interest rate and tenure any number of times using the Bank of Baroda EMI car loan calculator.

    3. Can you explain what an is amortization table?
    4. A car loan amortization table displays the breakup of the principal amount, interest rate, the total paid amount, and the outstanding loan balance. It basically a graphical representation of the loan breakup and the loan progress.

    5. What is the formula used to make EMI calculations?
    6. EMI Is calculated using the following formula:

    7. EMI = [P x R x (1+R) ^N] / [(1+R) ^N – 1],
    8. Where, P is the principal amount, R is the interest rate on a monthly basis, and N is the number of installments.

      This formula does not take into account the pre-payments that you make towards the loan.

    9. What is the subscription fee for the BankBazaar EMI calculator?
    10. The BankBazaar EMI calculator is completely free of cost. At no point will customers be charged to use this tool.

    11. Is it faster to make EMI calculations manually?
    12. No, it’s not possible to make EMI calculations faster manually than the EMI calculator. Also, making such calculations manually will lead to errors.

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