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    Oriental Car Loan EMI Calculator

    The car loan offered by Oriental Bank of Commerce meets the needs and requirements of every new car owner. But calculating your EMI for various interest rates can be taxing at times. The Oriental Car Loan EMI Calculator is a user-friendly tool that can be used to calculate the EMI that an individual would have to pay towards the repayment of their car loan. With the use of this calculator, a customer can accurately calculate the amount they have to pay during the term of the loan. The Oriental Car Loan EMI Calculator available on the BankBazaar website provides a customer with a lot of information pertaining to their car loan including an amortization table.

    How to use BankBazaar Oriental Bank EMI Calculator to understand your car loan repayment

    To get EMI results, 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). Once the EMI calculation has been made, the BankBazaar website displays the amortisation table. The amortisation table graphically represents the loan breakup and its progress.

    Calculate your Car Loan EMI

    Oriental Bank EMI Calculator – How does it work?

    To calculate the car loan EMI from Oriental Bank, customers have to enter the below mentioned components of a car loan.

    • Loan amount - Using the pointer on the scale, customers can choose the loan amount they wish to avail. For example, Rs.2 lakh, Rs.5 lakh, Rs.10 lakh.
    • Tenure - Customers can choose the loan tenure using the pointer.
    • Interest rate - Enter the interest rate that is offered by Oriental Bank on car loans.
    • Processing fee - Enter the processing fee charged by Oriental Bank.
    • Prepayment - Customers can choose whether they want to make the EMI calculation with or without the prepayment.
      • They can directly click on “calculate” if they do not want to include the prepayment charges in the EMI calculation.
      • If he/she wishes to include prepayments in the calculations, the customer will have to provide the information listed below:
        • Prepayment amount
        • Prepayment frequency
        • Prepayment fee
        • How the prepayment applies

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

    Given that the current rate of interest on car loans from Oriental Bank is 9.50% (fixed) let us calculate the EMI a customer would be required to pay for different tenures. 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 9.50% 2% 45,914 32,033 25,123 21,002 18,275 16,344
    15 lakh 9.50% 2% 68,872 48,049 37,685 31,503 27,412 24,516
    20 lakh 9.50% 2% 91,829 64,006 50,246 42,004 36,549 32,688
    25 lakh 9.50% 2% 1,14,786 80,082 62,808 52,505 45,687 40,860
    30 lakh 9.50% 2% 1,37,743 96,099 75,369 63,006 54,824 49,032
    35 lakh 9.50% 2% 1,60,701 1,12,115 87,931 73,507 63,961 57,204
    40 lakh 9.50% 2% 1,83,658 1,28,132 1,00,493 84,007 73,099 65,376

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

    Features and benefits of Oriental Bank Car Loan EMI Calculator

    In seconds, the Oriental Bank car loan EMI calculator performs complicated EMI calculation, giving customers a clear idea of how much the EMI would cost them every month. Some of the key features of the tool are listed below:

    • With the BankBazaar user-friendly Loan EMI Calculator, customers will have EMI results in seconds.
    • To enable customers to understand the progress and breakup of the loan easily, the tool displays the amortisation table.
    • Customers can contact the support team of BankBazaar if they have any issues or queries regarding the tool.
    • This financial tool is completely free of cost.
    • The tool can be used multiple times - with different interest rates, processing fees, tenure and so on.
    • Customers can include prepayment charges in their calculations as well.

    Oriental Bank Car Loan EMI Calculator FAQs

    1.What is the formula employed for calculating car loan EMI?

    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 instalments.

    This formula does not take into account the prepayments that you make towards the loan.

    2. What is the amortization table provided when using the EMI Calculator available on the BankBazaar website?

    A car loan amortization table shows the user the payment schedule of your debt in a tabular format which is easy to read and understand. It displays the breakup of the principal amount, interest rate, the total paid amount, and the outstanding loan balance.

    3. How much is the subscription fee that I need to pay to use the EMI Calculator on the BankBazaar website?

    This EMI Calculator offered on the BankBazaar website is free of cost and you do not have to pay any subscription fees.

    4. Is it easier to calculate the EMI using the formula or an excel sheet, in comparison to the EMI Calculator tool?

    Calculating the EMI using the formula or an excel sheet would be error-prone and time-consuming. Moreover, it would be really complicated if we have to calculate the EMI when prepayments are made towards the debt. To avoid such problems, it is recommended that we use the BankBazaar Oriental Bank Car Loan EMI Calculator for the same.

    5. I know there is a prepayment penalty levied by my lending bank, but do not know the exact amount I will have to pay for the same. How can I get accurate results from the tool then?

    It is a smart and safe move by the user if they ensure that they read the offer documents carefully. You can contact the bank’s customer care number of you can also visit the bank branch to request for the very same. You can then input these charges into the EMI Calculator like any prepayments which have to be made after which you can view the amortization schedule almost instantly.

    Car Loan Reviews

    • Oriental Bank of Commerce Car Loan
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      Recently I have got the card loan from the ORIENTAL BANK OF COMMERCE around 5 months ago. They took around 10 to 15 days time to disburse the loan amount. The required loan amount has been given and I am satisfied with it. The rate of interest and the charges are average with the OBC car loan service.
      Was this review helpful? 1
      , ghaziabad
      Reviewed on Apr 17, 2018
    • Oriental Bank of Commerce Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      The car loan plan has postponed at present so that was the reason I haven't got the car loan from the ORIENTAL BANK OF COMMERCE. The customer support service gave me better response in regards to my car loan application. The over all service is good with the ORIENTAL BANK OF COMMERCE.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Feb 08, 2018
    • Oriental Bank of Commerce Car Loan
      "Better service"
      0.5 1.0/5 "Really Bad"
      I haven't got any call backs from the ORIENTAL BANK OF COMMERCE in regards to my car loan application, their executives promised that they will give a call back for the documentation , but they never turned up, so that was the reason I haven't got the car loan from ORIENTAL BANK OF COMMERCE.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 08, 2018
    • Oriental Bank of Commerce Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have applied for the higher loan amount , but the ORIENTAL BANK OF COMMERCE initially promised that they can approve the required loan amount but they haven't done that , so that was the reason I haven't got the loan from ORIENTAL BANK OF COMMERCE. The response was good with the ORIENTAL BANK OF COMMERCE in regards to my car loan application but the miscommunication part need to be avoided.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 06, 2018
    • Oriental Bank of Commerce Car Loan
      "Happy service"
      0.5 5.0/5 "Blown Away!"
      The loan process was good with Oriental Bank of Commerce but they took little bit more days for processing and the disbursement was very quick. The documentation process was normal and took some more time. They offered a interest rate of 8.95%.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jan 16, 2018
    • Oriental Bank of Commerce Car Loan
      "Better"
      0.5 5.0/5 "Blown Away!"
      The customer services and response was better with Oriental Bank. They charged normal interest rate like other banks. I have purchased Reynolds Capture and I had taken car loan as 12L. The documentation process was simple and the executive came to my place to collect the documents.
      Was this review helpful? 0
      , vadodara
      Reviewed on Jan 16, 2018
    • Oriental Bank of Commerce Car Loan
      "GOOD"
      0.5 4.0/5 "Great!"
      It was a good experience with oriental Bank Of Commerce .it was a good customer service i received from the OBC for the car loan i applied for in that bank .the bank gave me all the required information for the car loan process i asked from them . I actually postponed my plan so i did not opt for the loan .
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Nov 29, 2017
    • Oriental Bank of Commerce Car Loan
      "Average service"
      0.5 2.5/5 "Just OK"
      The service of oriental bank for my car loan service was good but I am disappointed with the response from oriental there is no proper response from oriental the process is very slow ,I never contacted their customer service it was a average service from oriental car loan service.
      Was this review helpful? 1
      , pune
      Reviewed on Nov 25, 2017
    • Oriental Bank of Commerce Car Loan
      "It Could Have Been More Better "
      0.5 1.5/5 "Bad"
      I am happy with the experience i had with oriental bank of commerce . The bank was not giving a full approval for the amount i asked for the loan . The Customer service was good but it could have been the best one i felt that . They did not provide it saying its against the policy . They directly said no they did not give it a try for once also . The Documents were collected for the loan process . But i did not avail for the loan .
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 18, 2017
    • Oriental Bank of Commerce Car Loan
      "Better"
      0.5 4.0/5 "Great!"
      I had applied for a car loan with Oriental Bank through online channel. They have requested for 3 year IT details. Since I don't have the documents, its been cancelled. The customer service and response is good. They have contacted me on time and provided the necessary information. There is no processing fee. ROI is 9%, it is nominal.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 08, 2017
    • Oriental Bank of Commerce Car Loan
      "Little high Rate of interest"
      0.5 3.0/5 "Satisfactory"
      I had a decent experience with Oriental Bank in regards to the Car Loan appliaction I filed with them. They responded pretty neatly. Only thing I found the rate of Inrterest of 11 % looks a little on higher end. They could decrease their Interest rate a little.
      Was this review helpful? 0
      , amritsar
      Reviewed on Oct 29, 2017
    • Oriental Bank of Commerce Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I didn't got the car loan from Oriental bank of Commerce, because I got better option from other banks, so that was the reason I haven't processed my car loan with Oriental bank of commerce. The rate of interest is 9.24% which is nominal when compared with others.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 23, 2017
    • Oriental Bank of Commerce Car Loan
      "Good customer service"
      0.5 4.0/5 "Great!"
      I have applied for the car loan from Oriental Bank of Commerce, i did not take tha loan bacause they were not giving the loan which i requested for. The customer service was good and responsive, they called me freqeuntly for followup. The rate of interest is less when compared to all other banks.
      Was this review helpful? 0
      , pune
      Reviewed on Oct 23, 2017
    • Oriental Bank of Commerce Car Loan
      "Good customer service"
      0.5 3.0/5 "Satisfactory"
      I have applied for the car loan from Oriental Bank of Commerce, i did not get the loan because i changed my plan to get the loan. When it comes to customer service, it was good and they were responsive, The rate of interest is very less when compared to all other banks and i have also recommended few of my friends for the car loan.
      Was this review helpful? 0
      , amritsar
      Reviewed on Oct 21, 2017
    • Oriental Bank of Commerce Car Loan
      "Good service"
      0.5 2.0/5 "Expected more"
      The car loan process is not up to the mark with oriental bank of commerce. The customer support didn't gave proper response in regards to my car loan application. The rate of interest is nominal with oriental bank of commerce when compared with others.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Oct 17, 2017
    • Oriental Bank of Commerce Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      The service was good with oriental bank of commerce, I have postponed the car loan plan to the next year. The rate of interest is low with oriental bank of commerce. At present I am looking for the personal loan so that was the reason I haven't got the loan from Oriental bank of Commerce.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 16, 2017
    • Oriental Bank of Commerce Car Loan
      "excellent"
      0.5 4.5/5 "Excellent!"
      I have applied for my car loan with ORIENTAL bank. Their rate of interest was between 8-9% which was satisfactory and average in the market for 20 lakhs. The customer service and responses was also good but I have cancelled the application due to my personal reason . My overall experience was excellent.
      Was this review helpful? 1
      , new delhi
      Reviewed on Oct 15, 2017
    • Oriental Bank of Commerce Car Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      They called me on time i can say it was a good customer service from the Oriental Bank of India from the bank side . The rate of interest given from the bank side was real low about 7% i really liked it and processing fee was not told to me . I kept it on hold from my side due to some problem . Rest everything i should say is fine .
      Was this review helpful? 1
      , kochi
      Reviewed on Oct 14, 2017
    • Oriental Bank of Commerce Car Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      I postponed my plans in buying a vehicle for the next couple of months and I cancelled my application for the car loan with OBC. The bank done a good job by contacting me on time and informing me the details. I closed this bank because they had a good deal on the interest rate.
      Was this review helpful? 0
      , noida
      Reviewed on Oct 09, 2017
    • Oriental Bank of Commerce Car Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      Everything was fine with Oriental Bank of Commerce. They were happy to serve for my car loan They were very quick in contacting me and informing me the details. I did proceed ahead with them and the rate of interest was 9.10%. Without any charges they have just stamp duty for 300 to 400 rupees and I have done the down payment of 3 laks.
      Was this review helpful? 0
      , new delhi
      Reviewed on Sep 29, 2017
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