Jammu and Kashmir Bank Car Loan EMI Calculator

An outstanding bank that operates in India, Jammu and Kashmir Bank has been serving the people of India with excellent banking solutions. A customer can count on the bank to provide a prompt and precise service. The bank offers home loan and car loan products which cater to the needs and requirements of the customer.

Jammu and Kashmir Bank is the place to go to if a customer is looking to finance the purchase of their dream car. The Jammu and Kashmir Car Finance Scheme (Fresh Cars) for Individuals/Proprietorship Concerns is offered at an affordable interest rate with added benefits for women borrowers.

A borrower can use the car loan EMI Calculator that's available on BankBazaar's official website. The calculator will help in computing the borrower's car loan EMIs and will also help in planning their monthly expenses carefully. The borrower will then be aware of how much they need to spend on each aspect of their life to avoid an unpleasant financial situation.

How to use BankBazaar’s Jammu and Kashmir Bank Car Loan EMI Calculator to understand your car loan repayment

The official website of BankBazaar has a great online tool that can be used to calculate the EMI that needs to be paid to repay a car loan. The EMI Calculator that is available on the BankBazaar website is very easy to use and provides visual aids to help you understand your loan better. It gives you the information that you are looking for in a clear manner which can help you understand your loan better. It is self explanatory and can be easily used without the guidance of a professional or customer support.

Moreover, it gives you an amortisation table along with a graph which can help explain every element of your repayment schedule.

Jammu and Kashmir Bank Car Loan EMI Calculator – How does it work?

The car loan EMI calculator of Jammu and Kashmir Bank that is available on official website of BankBazaar is an innovative tool that can save a lot of time when calculating the EMI that needs to be paid on a car loan. The steps for using this online tool are self-explanatory.

• You will have to first select the car loan amount that you require by dragging the cursor on your screen.
• After this, you will have to select the loan tenure by dragging the cursor on the "Tenure" tab. The loan that you have borrowed will have to be repaid within this period.
• You will have to enter the interest rate for the car loan that's offered by Jammu and Kashmir Bank.
• Next, you will need to enter the processing fee details. You will have to find out the processing fee that is charged by Jammu and Kashmir Bank by either visiting the official website of the bank or at the nearest branch of Jammu and Kashmir Bank.
• You are also provided with the option to calculate your EMI for your car loan. If you plan on making a prepayment, you can select the "Yes" option. You will then have to provide certain details pertaining to your car loan such as prepayment fee, frequency of repayment, and your prepayment amount.
• If you do not wish to make a prepayment, all you have to do is select the "No" option and then click on the "Calculate" button. This will then give you the EMI that you will have to pay towards your car loan. After clicking the "Calculate' option, you will get a clear picture of the EMI amounts which you will have to pay along with the amortisation table and a graph. This information will help you make an informed decision on choosing the right loan amount.

Example: The interest rate offered on a car loan taken from Jammu and Kashmir Bank is 11.25% (Fixed) while the floating rate is B.R + 1%. Women borrowers are offered a rebate of 0.25% on the interest rate. In the following table, we can consider that the interest rate provided by Jammu and Kashmir Bank is 11.25% with a processing fee of 2% which cannot be refunded. The example below assumes that no pre-payments are made towards the loan.

Jammu and Kashmir Bank Car Loan EMI Calculator – Features and Benefits

The Jammu and Kashmir Bank Car Loan EMI Calculator comes with a number of various features and benefits that are made available for a customer of the bank. Enter your car loan details into the EMI Calculator to get the EMI that you have to pay towards a loan amount.

• A customer will not have to do any EMI Calculations manually. The customer can rely on the EMI Calculator that's available on the BankBazaar website to do these complex calculations without any error. This tool helps minimize the time spent on getting the result that you are looking for.

• The calculator can be used from any place and at any time.
• BankBazaar has a trustworthy customer care support team that is ready to help whenever a customer needs their support.
• The tool is available free of cost and requires no payment to use it. The tool can be used a number of times to find out the EMI that needs to be paid for various loan amounts.
• It also provides a colourful graph in a bar diagram format to help you understand your repayment schedule for each month accurately.
• There are no Excel sheets used while calculating the EMI on a loan amount. Results are received in a well-defined and clear way.
• The Car Loan EMI Calculator makes the entire lending process simple and easy. Sometimes, a customer may avoid taking a loan due to the element of uncertainty that comes along with the car loan. This EMI Calculator helps by providing all the information that a customer will require to make things certain in a car loan. It also lets the customer know the amount of money that they will have to keep aside every month for the repayment for the loan.

Jammu and Kashmir Bank Car Loan EMI Calculator FAQs

1. Is the Car Loan EMI Calculator available on the BankBazaar app?

Yes, the tool is available on the BankBazaar app and is also available on iOS and Android as well.

2. Will I have to enter the car loan tenure in months or years when I used BankBazaar's Car Loan EMI Calculator?

The results that you receive after using the car loan EMI Calculator will be a lot more accurate if you provide the years and months of the loan tenure.

3. When can I use the BankBazaar EMI calculator?

The BankBazaar Car Loan EMI Calculator can be used at anytime, 24/7.

4. Does the BankBazaar Car Loan EMI calculator require a payment to be made to use it or is it available free of cost?

The EMI Calculator is free of cost and does not require any sort of payment to be made to use it. All you have to do is open the official website of BankBazaar and enter the loan details of your car loan to calculate the EMI that you will have to pay.

5. Do I need to hire a financial consultant to use the BankBazaar EMI calculator?

The EMI Calculator that's available on the BankBazaar website is simple and easy to use and does not require a financial consultant to help you. All you have to do is ensure that you enter the correct loan details pertaining to your loan such as tenure, processing fee, and interest rate.

6. Where can I find the car loan EMI calculator on the official website of BankBazaar?

You will have to visit the main page and click on the main menu of BankBazaar. Select the “Finance Tools” option where you will find the EMI Calculator option.

7. How is the amortisation table helpful when purchasing a loan?

The amortization table helps explain every element of your car loan and therefore, you can view your outstanding amount for each month, loan principal amount, outstanding total loan amount, interest rate for your loan, amount paid till a certain date, etc.