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    Dena Bank Car Loan EMI Calculator

    Not all of us have to luxury of a hefty paycheck that can help an individual purchase whatever they desire without worrying about their balance. For those who do not have a large pile of cash to purchase a car, the car loan offered by Dena Bank is an important product that comes to the aid of a number of people. The Dena Vehicle Loan Scheme that is offered by Dena Bank is a pocket-friendly car loan that’s offered to the bank’s large customer base. Customers can avail the best possible deals which are offered on car loans depending on the make and model of the car. The interest rates which are offered by Dena Bank vary depending on market rates which is why it's offered as a floating interest rate.

    How to use BankBazaar Dena Bank Car Loan EMI Calculator to understand your car loan repayment

    The Car Loan EMI Calculator that’s available on the official website of BankBazaar can be used to calculate the Equated Monthly Installments EMI which would have to be paid after taking a car loan from Dena Bank. This is a simple calculator to use and is easy to understand and comprehend making it a very user-friendly tool. The Dena Bank Car Loan EMI Calculator also provides an amortization graph to make it easier for the user to visually analyze and understand their loan repayment procedure and timetable over the repayment tenure.

    Calculate your Car Loan EMI

    Dena Bank Car Loan EMI Calculator – How does it work?

    The Dena Bank Car Loan EMI Calculator will require a few personal details to help with calculating the EMIs which you will have to pay. The personal details which are required are as follows:

    • The customer can find the calculator on the BankBazaar website under the “Financial tools” section of the homepage.
    • The customer has to provide the following details in order to get the accurate EMI result:
      • Loan amount- The loan amount can be chosen by either moving the slider on the scale or by manually entering the amount in the space provided next to the loan amount scale.
      • Tenure- The customer has to choose the tenure of the loan in this step using the same method as mentioned above.
      • Rate of interest- The customer has to enter the rate of interest charged on the car loan by Dena Bank.
      • Processing charges- The customer has to mention any processing fee charged on the loan by the bank.
      • Prepayment charges- If the customer intends to make prepayments on their loan, they can use this section to enter the prepayment details before calculating the EMI.
    • Once the customer fills in the parameters, they can calculate the EMI for the car loan by choosing the “Calculate” option.
    • As soon as the customer clicks on the “Calculate” option, the calculator gives the EMI to be paid for the loan along with a detailed breakup of the loan.

    Example: Let us now analyze the EMIs (for various tenures) on car loans using the BankBazaar Dena Bank Car Loan EMI Calculator. The interest rate currently offered by Dena Bank to general customers ranges between 9.15% and 9.30%. Let us consider the interest rate to be 9.20% and let us consider the processing fee to be 2% of the total loan amount which is non-refundable. The example below assumes that no pre-payments are made towards the loan.

    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% 45,777 31,893 24,980 20,856 18,125 16,191
    15 lakh 9.20% 2% 68,665 47,839 37,470 31,283 27,187 24,286
    20 lakh 9.20% 2% 91,553 63,786 49,960 41,711 36,250 32,382
    25 lakh 9.20% 2% 1,14,441 79,732 62,450 52,139 45,312 40,477
    30 lakh 9.20% 2% 1,37,330 95,679 74,940 62,567 54,375 48,572
    35 lakh 9.20% 2% 1,60,218 1,11,625 87,430 72,994 63,437 56,668
    40 lakh 9.20% 2% 1,83,106 1,27,572 99,920 83,422 72,500 64,763

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

    Dena Bank Car Loan EMI Calculator – Features and Benefits

    The Dena Bank Car Loan EMI Calculator is a very useful tool as it performs complicated calculations at the click of a button. Some of the key features of this tool include:

    • The BankBazaar website is an interesting platform that has an interactive online EMI calculator with other related online tools that will make your financial management simple. These tools can be found on the page of the car loan EMI calculator.
    • The customer does not have to pay to use the EMI calculator available on the BankBazaar website.
    • It keeps users engaged with a pie chart and a bar diagram making it visually appealing.
    • The customer can plan their repayment process methodically as they will be aware of their EMIs well in advance.
    • This calculator can be used from anywhere as it is available online.
    • You can comprehend your EMIs, principal amount, and outstanding interest skilfully with the help of interactive bar diagrams and pie charts.

    Dena Bank Car Loan EMI Calculator FAQs

    1. What is the formula used to make EMI calculations?
    2. 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.

    3. What information is required when making pre-payments using the BankBazaar Car Loan EMI Calculator?
    4. The information that you will have to provide has been given below:

      • How the prepayment applies
      • Prepayment fee
      • Prepayment amount
      • Prepayment frequency
    5. Why is using an EMI calculator better than calculating the EMI manually?
    6. The EMI calculator eliminates the complications that come with calculating the EMI manually and it is definitely less time consuming.

    7. Does it make sense to use the BankBazaar EMI calculator after applying for a car loan?
    8. No, you should always make sure to use the EMI calculator before you actually apply for a loan. This will help you ascertain your loan repayment ability and affordability.

    9. If I want to make a prepayment for my car loan, what components will I need to specify for this on the Dena Bank EMI calculator?
    10. You will need to enter your prepayment frequency, prepayment fee, prepayment amount, and what your prepayment applies to.

    Car Loan Reviews

    • Dena Bank Car Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      Got my car loan from Dena bank , where the rate of interest is high of promising one They took few days for approval and documentation. Where i use to pay monthly through ecs for 6 years . And there is no processing fees.Overall am satisfied with personal loan from Dena bank
      Was this review helpful? 1
      , lucknow
      Reviewed on Aug 22, 2018
    • Dena Bank Car Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a car loan with Dena bank and my loan experience was good, the loan amount was for Rs 5 lakhs with nominal rate of interest when compared to other banks. The process was smooth and i received my loan amount within a week. Customer service was good and the tenure of this loan is 5 years.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Apr 02, 2018
    • Dena Bank Car Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      My car loan was taken with DENA bank 5 years back . The loan amount was 3,50,000 and the tenure period was 5 years . The interest rate was 9-10% which was satisfactory . The customer service and responses was up to the mark. The loan was approved on time and there is no processing fee here so Its recommendable.
      Was this review helpful? 2
      , ahmedabad
      Reviewed on Dec 18, 2017
    • Dena Bank Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I had applied for a car loan with Dena bank but did not proceed with them as i had a few other options were my loan was already getting approved and i went ahead with the my personal bank that i have an account with as the procedures were faster and easier. I did however get good service from them.
      Was this review helpful? 0
      , thane
      Reviewed on Nov 01, 2017
    • Dena Bank Car Loan
      "Interest rate should be reduced"
      0.5 3.0/5 "Satisfactory"
      I have taken a car loan from Saraswat cooperative Bank as the rate of interest offered by them was the best. When I applied for loan in Dena bank, they offered me higher interest around 9% for the new car loan. I am not satisfied with that offer hence I gave up. But the service is good with Dena bank.
      Was this review helpful? 0
      , pune
      Reviewed on Oct 31, 2017
    • Dena Bank Car Loan
      "Its Good"
      0.5 5.0/5 "Blown Away!"
      There is no problem with Dena bank, I have postponed the plan to purchase the car right now. Because I am going to finalize the property. That is the reason I didn't go head with Dena Bank but their rate of interest and service part is really good.
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 31, 2017
    • Dena Bank Car Loan
      "Good customer service"
      0.5 3.0/5 "Satisfactory"
      I have applied for the car loan from Dena bank, my loan application was closed because my documents were not ready. The rate of interest of 9.15% is nominal when compared to all other banks. The customer service and their response was good, they followed up on regular intervals.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 31, 2017
    • Dena Bank Car Loan
      "Response part should be improved"
      0.5 1.0/5 "Really Bad"
      Dena bank service was very delay regards on my car loan application, I almost waited one week but there was no response from their end. I am very fed up with their service. Hence finally I took a loan from some other bank and I purchased the car..
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 30, 2017
    • Dena Bank Car Loan
      "Good Bank"
      0.5 4.0/5 "Great!"
      I thought of taking car loan with Dena Bank, but I purchased the car by cash. Dena bank is also good bank, they ready to sanction 80% of loan on vehicle value with better interest rate as per the market. I don't have any concern with them, I am very fine with their service.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 30, 2017
    • Dena Bank Car Loan
      "Good experience "
      0.5 4.0/5 "Great!"
      I had a good experience with Dena Bank regarding my Car Loan application. They called me up on regular time and informed me about the plans very clearly. Their Rate of Interest of 8.5% is also a decent one. I had to stay out of this plan as I had some personal reasons. Otherwise there was a good chance I might have gone with this Bank.
      Was this review helpful? 1
      , new delhi
      Reviewed on Oct 29, 2017
    • Dena Bank Car Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I applied for a car loan with DENA Bank. My application was accepted immediately from them and processed my car very quick and they provided the dd on time so I was able to take my car quickly than I expected. They offered me the loan with 9.15% as rate of interest and there was no processing fees. I will be taking one more car for my wife in next 2 months I will prefer DENA Bank only for that car loan also.
      Was this review helpful? 1
      , new delhi
      Reviewed on Oct 28, 2017
    • Dena Bank Car Loan
      "Best service"
      0.5 4.5/5 "Excellent!"
      I thought of taking car loan by closing by old car loan, but unfortunately I couldn't process it. That is the reason I haven't take loan from Dena bank. But they called me to confirm my loan requirement and inform the process they asked to dropped the documents.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 27, 2017
    • Dena Bank Car Loan
      "Good service "
      0.5 4.0/5 "Great!"
      I had applied for a car loan with Dena bank.Customer service has responded to my queries on time,they enquired my details.I informed the bank will check and compare with other banks.I got the best offer from a different source.Hence closed the application with Dena bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 27, 2017
    • Dena Bank Car Loan
      "Not satisfied"
      0.5 3.0/5 "Satisfactory"
      I had applied for a car loan with Dena Bank but did not proceed with the application as i initially put the document process on hold but later when i was ready and contacted them there was no Representative that came to collect my documents nor was there any email sent to me for a follow up on the application.I later proceeded with my loan with a different bank.
      Was this review helpful? 1
      , pune
      Reviewed on Oct 26, 2017
    • Dena Bank Car Loan
      "Need to improve"
      0.5 1.0/5 "Really Bad"
      I have not taken the car loan with the Dena bank because they have not contacted me at all. Customer service was good one for me, also the bankers have not contacted me till now from my inquiry. I would like to suggest that they need to improve the customer service.
      Was this review helpful? 0
      , pune
      Reviewed on Oct 26, 2017
    • Dena Bank Car Loan
      "Not Bad"
      0.5 3.0/5 "Satisfactory"
      I have approached Dena Bank for a car loan. Meanwhile I have tried with UCO Bank. The service was very fast. There is no hidden charges and processing fee. They have offered good interest rate. When I receive a call from DENA BANK, I have informed the executive to cancel my application.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 25, 2017
    • Dena Bank Car Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I had applied a car loan with Dena bank and i can say that they acknowledged my application and responded to me well and also received proper service. I have not proceeded the application as i was offered a better rate of interest than what offered at Dena Bank. Although they have nominal interest rates i was offered and even better rate that i opted for.
      Was this review helpful? 0
      , pune
      Reviewed on Oct 25, 2017
    • Dena Bank Car Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      The service which i received from DENA BANK for my car loan process was good . I received calls from the bank executive and they delivered the information in detailed matter I have postponed the plan for some personal reason that i am facing I had an idea of taking the loan amount of 7 lakhs
      Was this review helpful? 0
      , pune
      Reviewed on Oct 25, 2017
    • Dena Bank Car Loan
      "Good customer service"
      0.5 5.0/5 "Blown Away!"
      I have applied for the car loan from Dena bank, my loan application was closed because i postponed the plan to get the car loan. When it comes to customer service, it was good and supportive, they followed on regular intervals. The rate of interest was less when compared to all other banks.
      Was this review helpful? 0
      , pune
      Reviewed on Oct 24, 2017
    • Dena Bank Car Loan
      "Good customer service"
      0.5 4.5/5 "Excellent!"
      I have applied for the car loan from Dena bank, my loan application was closed because i postponed my plan to get the car loan. The customer service was good and it was very helpful, they collected all the documents on time. The rate of interest is nominal comparatively.
      Was this review helpful? 1
      , ahmedabad
      Reviewed on Oct 24, 2017
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