If you really think about it, it's easier getting a loan for a car than a loan for bus fare!
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  • City Union Bank Car Loan EMI Calculator is Rated as "Pretty good" by 4 Users

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    rated 3.5/5.0 by 4 users

    City Union Bank Car Loan EMI Calculator

    Considering that EMI calculations is imperative before availing a car loan, the City Union Bank Car Loan EMI Calculator enables customers to make accurate EMI calculations. With the City Union Bank Car Loan EMI Calculator, customers will be certain of how much a car loan would cost every month and how much they would be required to keep aside to pay the EMIs. In addition, customers can also check their eligibility for a car loan on the BankBazaar website.

    How to use BankBazaar City Union Bank EMI calculator to understand your car loan repayment

    On the BankBazaar website, the EMI calculator gives customers EMI results in seconds. All that the customer has to do is enter the components of the car loan - loan amount, tenure, interest rate, processing fee and prepayment charges (if any). Along with the EMI calculation, the BankBazaar website also displays the amortisation table once the EMI calculation has been made. The amortisation table helps customers understand the EMI breakup and progress of the loan easily with its graphical representation.

    City Union Bank EMI Calculator – How does it work?

    A customer has to simply follow the steps mentioned below to determine their EMIs using the City Union Bank EMI Calculator that’s available on the official website of BankBazaar. The EMI Calculator requires a few basic details to give the customer an accurate result along with the amortisation table:

    • Loan amount - Customers have to drag the pointer on the scale to arrive at the loan amount you are requesting from the bank. For example, Rs.2 lakh, Rs.5 lakh, Rs.10 lakh.
    • Tenure - The customer will have to choose the loan tenure using the pointer.
    • Interest rate - After this, the customer has to enter the interest rate that is offered by City Union Bank on car loans.
    • Processing fee - Once this is done, the customer will have to enter the processing fee charged by City Union Bank.
    • Prepayment - Customers can choose whether they want to make the EMI calculation with or without the prepayment.
      • If they do not want to include the prepayment charges in the EMI calculation, customers can directly click on “Calculate”.
      • If the customer chooses to make prepayments, he/she will have to provide the information listed below:
        • Prepayment frequency
        • Prepayment fee
        • Prepayment amount
        • How the prepayment applies

    Click on the “Calculate” once the information has been entered to get a detailed breakup of the total amount payable.

    Example: Given that the current rate of interest on car loans from City Union Bank is 17.5% let us calculate the EMI a customer would be required to pay for different tenures. To negate confusion, we will 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 9.20% 2% 49,683 35,902 29,114 25,122 22,526 20,726
    15 lakh 9.20% 2% 74,524 58,853 43,672 37,683 33,789 31,089
    20 lakh 9.20% 2% 99,366 71,804 58,229 50,244 45,052 41,452
    25 lakh 9.20% 2% 1,24,207 89,755 72,786 62,806 56,315 51,814
    30 lakh 9.20% 2% 1,49,049 1,07,706 87,343 75,367 67,578 62,177
    35 lakh 9.20% 2% 1,73,890 1,25,657 1,01,900 87,928 78,841 72,540
    40 lakh 9.20% 2% 1,98,731 1,43,608 1,16,457 1,00,489 90,104 82,903

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

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    City Union Bank Car Loan EMI Calculator - Features and Benefits

    In seconds, the City Union Bank Car Loan EMI Calculator performs complicated calculation giving customers an idea of how much they would need to set aside towards the car loan repayment. Some of the key features of the tool are listed below:

    • Using the BankBazaar user-friendly EMI calculator, customers will have EMI results in seconds.
    • The tool also displays the amortisation table - enabling customers to understand the progress and breakup of the loan easily.
    • If they have any issues or queries regarding the tool, customers can contact the support team of BankBazaar.
    • The BankBazaar EMI calculator is completely free of cost.
    • The tool can be used multiple times - with different interest rates, processing fees, tenure and so on.
    • If you wish to make a prepayment towards the car loan, the BankBazaar EMI calculator gives customers the option of entering the prepayment charges as well.

    City Union Bank car loan EMI calculator FAQs

    1. Is it possible to calculate the EMI manually rather than use the EMI tool?

      Calculating the EMI manually would be time-consuming and errors might surface.

    2. Can you explain what is an amortization table?

      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 is a graphical representation of the breakup of your car loan and its progress.

    3. What are the features of the City Union Bank car loan?

      The City Union Bank car loan is characterised by the following features:

      • Customers have flexible repayment options with the tenure ranging between 12 months and 60 months.
      • 100% finance for the purchase of several models of cars and multiutility vehicles.
      • No hidden charges.
      • Best interest rates on car loans.
      • The bank also offers special benefits and innovative loyalty schemes for its car loan customers.
    4. How is the EMI car loan calculated?

      EMI Is calculated using the following formula:

      EMI = [P x R x (1+R) ^N] / [(1+R) ^N – 1],

      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 prepayments that you make towards the loan.

    5. What will happen if I make an EMI calculation without the prepayment charges?

      Including the prepayment charges will be make the result accurate - allowing you to plan your finances to point. If not, you can still make the calculations and have a rough estimate.

    Car Loan Reviews

    • City Union Bank Car Loan
      "Its Excellent"
      0.5 4.0/5 "Great!"
      Being a staff of city union bank, they offered me good car loan offer. I have submitted only my RC copy and hypothication and insurance of the car. Within two days they have processed my car loan with the interest rate of 8.85% . My vehicle price was around Rs.10 lakhs, I have paid Rs.2 lakhs as processing fee remaining all converted into an EMI.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 03, 2017
    • City Union Bank Car Loan
      "Need Transparency in the process"
      0.5 1.0/5 "Really Bad"
      I got a car loan experience with City union bank 7 years ago. It was very bad experience. When I got the loan thy haven't explained me about the product and their interest rate. At the time of purchase, the interest rate was 13%, they have charged the processing fee of Rs,4000. After a year they have made an additional charges around Rs,2700, I got this car loan with the floating interest rate and they never informed me about the floating interest rate and then I have started paying the 14.2% from the 2nd Year. By the end of 5th years I paid around 15 % interest rate for the car loan. They need to have transparency in their service .
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 03, 2017
    • City Union Bank Car Loan
      "Satisfied Experience"
      0.5 5.0/5 "Blown Away!"
      City Union Bank was excellent in all aspects, I directly visited to the branch and approached for car loan. Based on existing current account they had considered and processed my application. But I informed them will get my new car in 2017. Overall I was satisfied with CUB Bank.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 28, 2016
    • City Union Bank Car Loan
      "Best customer service"
      0.5 4.0/5 "Great!"
      I availed car loan from Citi union bank before 3 years and everything is pretty good. If the customer is an existing customer, loan disbursement happens within 1 day and am feeling happy about it. Interest rate and processing charges are quite higher but it can be compensated with the customer service. I was able to get my 85% of the loan amount which i quoted.
      Was this review helpful? 2
      , kolkata
      Reviewed on Jun 02, 2014
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