Karnataka Bank is a leading bank in India that offers excellent banking solutions for a wide variety of purposes. You can approach the bank for deposit products, loans, NRI services, mutual funds, Forex services, cards, etc. The bank has excellent online banking services.
If you are looking for a car loan to fund the purchase of your dream car, you can get in touch with Karnataka Bank for affordable car loan options. The bank offers a product known as KBL car finance. It can be utilised to buy a new or used car for personal and commercial use. You can repay this loan conveniently through EMIs.
To calculate your repayments for each month, you can use the car loan EMI calculator offered by the bank. The Karnataka Bank car loan EMI calculator is user-friendly and provides accurate results.
How to use BankBazaar’s Karnataka Bank Car Loan EMI Calculator to understand your car loan repayment
The EMI calculator on the website of BankBazaar will give you a clear idea about the EMIs that you have to pay to clear your car loan. You do not need any technical knowledge to utilise this calculator. You will have to enter basic details of your car loan and then get your EMIs calculated.
The website of BankBazaar has an outstanding EMI calculator that will enable you to get a clear picture of your entire loan application and repayment process. When you are interested in a car loan from Karnataka Bank, you can go to the specific bank's EMI calculator on the BankBazaar portal.
Example: Let us use an example to understand how the BankBazaar Karnataka Bank EMI calculator works. When you choose Karnataka Bank, the interest rate for new vehicles for a loan of up to Rs.75 lakh is 9.90% and for used vehicles for a loan of up to Rs.20 lakh is 13.50%. Let us assume that the interest rate provided by Karnataka Bank for car loans is 9.90% with a non-refundable processing fee of 2% which is charged on the full car loan amount. We will also assume that the borrower does not want to make any prepayments. Let us take a look at the table below to get a clear understanding of the EMIs.
|Loan amount (Rs.)||Processing Fee (Rs.)||Interest rate (Mean)||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.)|
The Karnataka Bank Car Loan EMI Calculator offers a plethora of benefits to help you have a smooth lending process. It performs the most complex EMI computations in very little time.
Yes, you can utilise the same EMI calculator to find out your EMIs for both used and new car loans. You only need to enter your specific loan details in the calculator.
You will be required to enter your car loan period in number of years and months. You can specify the exact number of months according to your preference. This will allow the calculator to give you your EMIs.
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.
Yes, you can use the BankBazaar app to conveniently calculate your EMIs for multiple loan amounts over several loan tenures. It is available on both Android and iOS.
Yes, you only need to mention that you want to go ahead with prepayment and then enter relevant details. The calculator will then give you your monthly installments by taking the prepayment aspect into account.
You can go to the main menu of the BankBazaar website and choose the ‘Finance Tools’ section. Here, you will have to click on EMI Calculator.