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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  • Corporation Bank Car Loan EMI Calculator is Rated as "Blown Away!" by 22 Users

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    Corporation Bank Car Loan EMI Calculator

    Corporation Bank offers car loans at attractive rates for customers looking to purchase the car of their dreams. Using the Corporation Bank EMI calculator, customers can check their monthly EMIs on car loan. In addition, on the BankBazaar website, customers can check their eligibility for car loans from Corporation Bank.

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

    Using the EMI calculator on the BankBazaar website will help customers understand how much the EMIs will cost them every month. Apart from giving out the EMI calculation, the BankBazaar website also displays the amortisation table - that will help customers understand the EMI breakup easily.

    Corporation Bank EMI Calculator – How does it work?

    To calculate the car loan EMI from Corporation Bank, customers will have to enter the below mentioned details. Once the details have been entered, the EMI calculator will give the customer an accurate result.

    • Loan amount - Drag the pointer on a scale to arrive at the loan amount you are requesting. For example, Rs.2 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 Corporation Bank on car loans.
    • Processing fee - Enter the processing fee charged by Corporation Bank.
    • Pre-payment - Customers can choose whether they want to make the EMI calculation with or without the prepayment.
      • If the customer does not want to make the calculation with the pre-payment, he/she can directly click on “calculate”.
      • If the customer chooses to make pre-payments, he/she will have to provide the information listed below:
        • Prepayment frequency
        • Prepayment amount
        • Prepayment fee
        • How the prepayment applies

    Once the information has been entered, click on the ‘Calculate’ button to get a detailed breakup of the total amount payable. In addition, the page will display the amortisation graph.

    Taking into consideration the interest rate offered by Corporation Bank, using the BankBazaar Corporation Bank EMI car loan calculator, let us calculate the EMIs a customer would be required to pay for different tenures. Assuming that the processing fee is 2%, listed below is the EMI calculation with the current Corporation Bank interest rate of 9.25% per annum.

    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 9.25% 2% 45,800 31,916 25,004 20,880 18,150 16,216
    15 lakh 9.25% 2% 68,699 47,874 37,506 31,320 27,225 24,324
    20 lakh 9.25% 2% 91,599 63,832 50,008 41,760 36,300 32,432
    25 lakh 9.25% 2% 1,14,499 79,791 62,510 52,200 45,375 40,541
    30 lakh 9.25% 2% 1,37,399 95,749 75,012 62,640 54,450 48,649
    35 lakh 9.25% 2% 1,60,298 1,11,707 87,514 73,080 63,525 56,757
    40 lakh 9.25% 2% 1,83,198 1,27,665 1,00,016 83,520 72,599 64,865
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    Corporation Bank Car Loan EMI Calculator – Features and Benefits

    The Corporation Bank car loan EMI calculator performs complicated calculation in seconds, giving customers a clear cut idea of how much they would need to set aside towards the car loan each month. Some of the key features of the tool are listed below:

    • In a few seconds, the customer will have an accurate calculation using BankBazaar’s user-friendly EMI calculator.
    • For those facing issues with the tool or have a few doubts with regard to the calculations, they can contact the support team of BankBazaar.
    • The BankBazaar EMI calculator is completely free of cost at no point will the customer be charged, for how many ever calculations he/she makes.
    • In addition to the EMI breakup, the tool also displays the amortisation table - enabling customers to understand the progress and breakup of the loan easily.
    • The tool can be used multiple times - with different interest rates, processing fees, tenure and so on. Customers can make calculation to choose the best option for them.
    • If you wish to make a pre-payment towards the car loan, the tool gives you the option to calculate that as well.

     

    Corporation Bank car loan EMI calculator FAQs

    1. What are the significant features of the Corporation Bank car loan?

      The Corporation Bank car loan is characterised by the following features:

      • Flexible repayment tenure that can range between 12 months and 60 months.
      • The possibility of getting 100% finance for the purchase of several models of cars and multiutility vehicles.
      • No hidden charges.
      • Best interest rates on car loans.
      • Corporation Bank promises disbursal within 7 working days, with minimal documentation and high transparency.
      • The bank also offers special benefits and innovative loyalty schemes for its car loan customers.
    2. Can you tell me what 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.

    3. What is the formula for calculating car loan EMI?

      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 pre-payments that you make towards the loan.

    4. Is it easier to calculate the EMI manually on an excel sheet in comparison to the EMI Calculator tool?

      Calculating the EMI using the formula or an excel sheet would be time-consuming and error-prone. It would be complicated to calculate the EMI when pre-payments are made towards the debt.

    5. Is it possible to get an accurate EMI calculation without knowing the prepayment charges?

      It is advisable to read through the loan documentation to understand the prepayment penalty levied by your lender. Once you get the details of the pre-payment charges, you can use this information as input to the EMI Calculator tool to get an accurate result.

    Car Loan Reviews

    • Corporation Bank Car Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I have my car loan with CORPORATION bank which was taken a month back. The loan amount was 7 lakhs and the interest rate was 8.7% which was satisfactory . The EMI period was 3 years and no processing fee . They did not provide door step service for collecting documents but I had a very smooth loan process here. There are no charges for part payment, and pre closer option .
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 04, 2017
    • Corporation Bank Car Loan
      "Good customer service"
      0.5 4.0/5 "Great!"
      I had applied for the car loan with Corporation Bank, the loan amount was not more than 5 lakhs with the rate of interest of 11% which is nominal when compared to others in market. I submitted all my documents by visiting the bank branch as it is nearby. My loan amount was approved within a week's time.
      Was this review helpful? 0
      , pune
      Reviewed on Nov 04, 2017
    • Corporation Bank Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      It was a wonderful experience with CORPORATION bank for my car loan service the interest rate was 9.8which was fine compare to others in the market the documents where direct the payments where payed directly ,it was a good experience from CORPORATION bank for my car loan service.
      Was this review helpful? 0
      , kottayam
      Reviewed on Oct 30, 2017
    • Corporation Bank Car Loan
      "Great Service"
      0.5 5.0/5 "Blown Away!"
      I had taken my car loan from Corporation Bank, documentation part is very easy and good. Based on my savings account , they had given very good offer for my car loan. Interest rate is 8.5%, It is low when compared with other banks, also they has disbursed my loan within 3 days.
      Was this review helpful? 0
      , kolkata
      Reviewed on Feb 22, 2017
    • Corporation Bank Car Loan
      "Good facility from public sector bank"
      0.5 4.5/5 "Excellent!"
      Being the government organization I got good response from Corporation bank for the car loan when I approached them directly.Within 10 days the loan disbursed. After completing the loan NOC papers were sent on time. Door stop facility was given by the bank executive I just visited the bank only for the final process.
      Was this review helpful? 0
      , delhi
      Reviewed on Jul 01, 2016
    • Corporation Bank Car Loan
      "Better "
      0.5 4.0/5 "Great!"
      The lending rate for the Corporation bank was around 10.25%, also the loan amount got disbursed within eight days of time because of due to personal issues from my end only. Documentation procedures are simple with them and the processing charges were nil with them.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 28, 2016
    • Corporation Bank Car Loan
      "Very fast and smooth process"
      0.5 5.0/5 "Blown Away!"
      It was a pleasant surprise at Corporation bank for my car loan. I thought it would be a long process when I applied. But when I approached them, the process was completed in couple of hours. It was very easy paper work as well. I got a interest rate of 9.25% (floating) where my principal in reduced on a monthly basis. The processing charges was of 3500. Overall an excellent offer and experience.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 23, 2016
    • Corporation Bank Car Loan
      "smooth process"
      0.5 5.0/5 "Blown Away!"
      I have taken a car loan from corporation bank. The overall process was very fine and smooth. Interest rate was nominal and it was around 10%. It was within a week I got my loan. I really got a very good support from the bank executives and this made the process easier.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 19, 2016
    • Corporation Bank Car Loan
      "Very good services"
      0.5 5.0/5 "Blown Away!"
      I had a earlier experience with Corporation bank for a car loan. The process was good. I got the loan within one week. I am satisfied with the services of the bank. They were quite responsive too. The rate of interest was 10.4%. The processing charge was waived off.
      Was this review helpful? 0
      , karur
      Reviewed on Feb 16, 2016
    • Corporation Bank Car Loan
      "Pretty fast process..."
      0.5 5.0/5 "Blown Away!"
      My car loan was taken from Corporation bank. Since its Government sector but they did not every thing quickly. I got my loan amount within 3 working days. They were really good in process and we can get car loan easily, if we have a proper documents. Best thing is, charges are lesser.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Jan 05, 2016
    • Corporation Bank Car Loan
      "Marginal rates"
      0.5 5.0/5 "Blown Away!"
      Corporation bank is very customer friendly towards the customer in the car loan application.The response provided was quite late. The interest rate applied was marginal rate and the charges applied were very nominal in this car loan.I will recommend about the service to others.
      Was this review helpful? 1
      , bhubaneshwar
      Reviewed on Nov 12, 2015
    • Corporation Bank Car Loan
      "Good bank employees "
      0.5 5.0/5 "Blown Away!"
      With in three days I got my car loan from CORPORATION bank. The bank branch manager was very good to me. I have taken it for the tenure of seven years which is for the loan amount 2.25 lakhs. Mr. Anil kumar prabu, is the manager but he transferred now.
      Was this review helpful? 0
      , kannur
      Reviewed on Nov 05, 2015
    • Corporation Bank Car Loan
      "Rate is less for me.."
      0.5 2.5/5 "Just OK"
      My account is in Corporation bank so I got flat rate of interest and that is very less otherwise it will be very difficult to avail a car loan. Customer service and response is amazing. For me the rate is 8% but to others it will be very high in Corporation bank. Service charge is not there.
      Was this review helpful? 1
      , jodhpur
      Reviewed on Nov 05, 2015
    • Corporation Bank Car Loan
      "Government banks are good..."
      0.5 3.0/5 "Satisfactory"
      Nationalized banks will be good for car loan as they have part payment option. Corporation bank has charged me around 3thousand and that was not told to me. According to me the deducted thing was hidden charge. Customer support is good and the interest rate is less so I took the loan.
      Was this review helpful? 0
      , faridabad
      Reviewed on Oct 23, 2015
    • Corporation Bank Car Loan
      "Best one"
      0.5 5.0/5 "Blown Away!"
      My showroom dealer has recommended me about CORPORATION bank for the car loan. Because they have tie up with this bank so recommended me to me. I have submitted the documents to the dealer itself. Rate of interest is 11% for my car loan.
      Was this review helpful? 1
      , bangalore
      Reviewed on Oct 17, 2015
    • Corporation Bank Car Loan
      "Very excellent.."
      0.5 5.0/5 "Blown Away!"
      Have opted a car loan for the amount of 4.5lkhs and tenure is 60months. File charge is about 1200. From the time I submitted the file to the Corporation bank, within 2 to 3 days the loan got approved where they submitted the DD to the car dealer. No kind of hiccups and they done the process in a short time. Rate of interest was 10.4%.
      Was this review helpful? 1
      , meerut
      Reviewed on Aug 25, 2015
    • Corporation Bank Car Loan
      "Good bank"
      0.5 4.0/5 "Great!"
      I have the car loan with the corporation bank and I got it as the offers which is best. The rate of interest is less than 9% and am happy with them. There is zero processing charges with them. Within 3 days of time I have got the loan and the services are nice.
      Was this review helpful? 0
      , shimoga
      Reviewed on Aug 25, 2015
    • Corporation Bank Car Loan
      "Good process"
      0.5 4.5/5 "Excellent!"
      Corporation bank car loan process was fine. I had applied for the loan by visiting the branch. After applying for the loan I had got the approval letter. Its an ongoing loan, I am left with 1.5 years. My dad was holding an account with the same bank based on which, they had offered this loan. No discounts was given . Overall it was good, its transparent no additional charges being charged its a Nationalized bank and I place my trust in this bank.
      Was this review helpful? 0
      , goa
      Reviewed on Jul 30, 2015
    • Corporation Bank Car Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      As the dealer had a contract with Corporation bank, I did get the car loan from them. Interest rate is 10.85% with 1200 as processing charges. Overall I liked the services and everything was quite satisfactory as well.
      Was this review helpful? 1
      , bangalore
      Reviewed on Dec 24, 2014
    • Corporation Bank Car Loan
      "Great"
      0.5 4.0/5 "Great!"
      I have taken a car loan from Corporation bank this month. I had a discussion with the bank multiple times and we were negotiating the rate of interest couple of times. They called me multiple times and they convinced me giving the suitable rate of interest. I met the manager of the bank personally and they did reduce the interest rate upto 10.65%. There was a slight delay in processing due to some holidays in between however they managed to disburse my loan within 15 to 17 days of time.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Oct 20, 2014
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