South Indian Bank Car Loan EMI Calculator

This tool offers an in-depth analysis of an EMI. An amortization table is also provided to give the user a visual analysis of the EMI that needs to be repaid.

South Indian Bank Car Loan EMI Calculator - How does it work?

There are certain primary details which an individual will have to provide to ensure that they come up with an accurate result when calculating their EMI while using a South Indian Bank Car Loan EMI Calculator:

1. To select the loan amount that a customer requires, he/she will have to drag the pointer that is available over the "Loan Amount" tab that is available on the EMI Calculator.
2. After selecting the loan amount that's required, the customer will have to select the loan tenure by dragging the pointer that's available under the "Tenure scale".
3. Type in the interest rate offered by South Indian Bank into the EMI Calculator on the BankBazaar website.
4. Enter the processing fees, if any, that's levied by South Indian Bank on the car loan.
5. Customers who avail a car loan from South Indian Bank will have to make a choice to either make a prepayment on the car loan or not. There are two options which a customer can choose from:

1. If a customer does not wish to make a prepayment towards their car loan, they can directly select the "Calculate" button. Once this is done, the customer will be provided with a page that shows the breakup of the total amount which they would have to pay. The page provided will also have the amortization graph and a breakup of the car loan that has to be repaid.
2. If a customer does choose to make a prepayment, they would have to click the button that says "Yes" next to the prepayment tab. The customer will have to provide the information asked for in the following tabs:

1. Prepayment fee
2. Prepayment amount
3. Prepayment frequency
4. How the prepayment applies

After the customer has provided all the details required by the South Indian Bank Car Loan EMI Calculator, click on the "Calculate" button to start the calculation process. This will take a fraction of a second and the amount which is payable will be displayed on the screen.

Example: The interest rate that is offered by South Indian Bank on a car loan as 9.15% to 10.10% with a processing fee of 2%. Let us consider the Interest rate as 9.20%. Using the EMI Calculator available on the BankBazaar website, the table below shows the calculations made for varied tenures and for different loan amounts.

*Interest rates are subject to change following the GST rollout on July 1, 2017.

South Indian Bank Car Loan EMI Calculator - Features and Benefits

The South Indian Bank Car Loan EMI Calculator proves time and again to be a very useful tool that performs complicated calculations with a click of a button. Some of the key features of this tool include:

1. This is a user-friendly tool that helps a customer analyse his/her EMI that they would have to pay towards a car loan. The EMI Calculator also displays the amortization details along with the EMI that needs to be paid.
2. The EMI Calculator is available free of charge and requires no subscription fees.
3. The tool can be used a number of times until you arrive at the right combination of tenure and principal, and an EMI which you can afford.
4. You can plan your repayment process methodically as you will be aware of your EMIs well in advance.
5. The BankBazaar South Indian Bank Car Loan EMI Calculator displays the breakup of the amount payable and the amortization schedule in an attractive graphical format. Hence, it is very easy to understand as well.
6. BankBazaar has a dedicated customer support team which ensures that all problems and queries of a customer are resolved as soon as possible.
7. You can understand the level of significance of each aspect of your car loan by viewing the bar diagram and pie chart offered by the EMI calculator.

A good credit score can help you secure lower interest rates on loans and credit cards.

Get Free Credit Score