State Bank of Bikaner and Jaipur has a great car loan scheme with low interest rates. The loan product is popular as it requires minimal paperwork. The Bank offers this product in collaboration with the State Bank of India. SBBJ offers upto 85% quantum of finance for the on-road price of a car. Another feature of SBBJ car loan is that it charges no prepayment fees or foreclosure fees.
How to use BankBazaar SBBJ Car Loan Calculator to understand your Car Loan Repayment
SBBJ has one of the lowest car loan EMIs in the country. SBBJ Car Loan EMI can be calculated using the EMI Calculator on the website of BankBazaar. Loan aspirants can calculate their EMIs for different tenures, interest rates and loan amounts. It is a simple tool with an interactive interface. BankBazaar also provides an amortization graph with the tool, allowing loan seekers to thoroughly analyse their loan repayment schedule.
You will have to provide certain basic details to calculate your EMIs using the BankBazaar SBBJ Car Loan EMI Calculator. These include:
You can then click on the ‘Calculate’ button to get a detailed breakup of the total amount payable. The page will also show your loan details and amortization schedule in a graph.
Additionally, the tool provides you some insight on the loan amount and tenure with the option of prepayment and without it.
Let us analyse the EMIs (for various tenures) on car loans using the BankBazaar SBBJ Car Loan EMI Calculator. The lowest interest rate currently offered by the bank is 9.25% and processing fee is Rs.1,000 for the loan amount up to Rs.6 lakh and Rs.1,500 for loan amount more than Rs.6 lakh. The example below assumes that no prepayments are made towards the loan.
|Loan Amount||Interest Rate||Processing Fee||EMI for 3 Years||EMI for 4 Years||EMI for 5 Years||EMI for 6 Years||EMI for 7 Years|
The State Bank of Bikaner and Jaipur 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:
A car loan amortization table shows the payment schedule of your debt in a tabular format. It displays the breakup of the principal amount, interest rate, the total paid amount, and the outstanding loan balance.
You can check out the EMI calculator on the website of BankBazaar by going to the ‘Financial Tools’ section on the homepage.
No, the BankBazaar car loan EMI calculator is 100% free to use. You need not sign up or apply for a car loan to use this calculator. Just visit BankBazaar and access the car loan EMI calculator tool to compute your EMIs.