If you really think about it, it's easier getting a loan for a car than a loan for bus fare!

    State Bank of Patiala Car Loan EMI Calculator

    State Bank of Patiala is a leading bank in India that belongs to the esteemed SBI (State Bank of India) group. The bank provides prompt and advanced banking solutions for several purposes. Whether you are looking for loans, deposits, funds transfer facilities, bill payment features, or tax payment facilities, you can count on the bank for reliable services.

    State Bank of Patiala has excellent car loan options that will assist you in purchasing your dream car without any difficulty. You can repay your car loan from State Bank of Patiala in the form of EMIs. Before you decide your car loan amount, you will need to calculate these EMIs by utilising the online EMI Calculator provided by the bank. The website of BankBazaar has an EMI calculator which will help you understand your monthly repayment amounts easily.

    How to use BankBazaar’s State Bank of Patiala Car Loan EMI Calculator to understand your car loan repayment

    BankBazaar’s State Bank of Patiala Car Loan EMI Calculator is an attractive online tool that can be used by anybody with basic loan details. You will not need any professional assistance for utilising this calculator. You will first have to find out the interest rate for car loans offered by State Bank of Patiala and then key in this rate in the calculator.

    It makes a car loan application and repayment process hassle-free and quick. You can apply for a car loan by checking your loan EMIs quickly and then choosing an appropriate loan amount. You can enter different loan amounts for multiple loan tenures and you will get your EMIs accordingly. You can then plan your monthly expenses competently.

    Calculate your Car Loan EMI

    State Bank of Patiala Car Loan EMI Calculator – How does it work?

    The State Bank of Patiala Car Loan EMI Calculator helps you in calculating and recalculating your car loan EMIs as well as total interest in a jiffy. You only need to use the slider to enter your particular car loan information. The calculator will tell you about the fixed amounts that you need to pay on a monthly basis. Your EMI amount will comprise the interest on your loan amount and your loan principal amount.

    You will need to note that in the beginning phases of your loan period, your EMIs will mostly consist of your interest. As you pay each installment, your interest repayment will come down and then your remaining repayment amounts will consist more of the principal amount.

    • Firstly, you will need to select your car loan amount by using the slider available on the BankBazaar EMI calculator.
    • Next, you will need to choose your loan tenure in number of years and months to be fully precise.
    • In the next field, you will need to enter the interest rate in percentage. Before you apply for a loan, you can discuss with your lender regarding your financial conditions in order to get a good interest rate.
    • In the next field, you will have to key in the processing fee. This will be a certain percentage of your auto loan amount.
    • Next, you will need to mention if you want to make prepayments with your loan. If you want prepayments, you can click ‘Yes’ and if you do not to make them prepayments, you can click ‘No’. After this, you will need to click ‘Calculate’.
    • You will now get your monthly car loan EMI in Rs. You can also view a pie chart by clicking the ‘+’ symbol. The pie chart will have loan amount, processing fee, and total interest due. You can also view your total loan amount payable.
    • The BankBazaar EMI calculator also provides amortisation details annually as well as monthly in a neat bar diagram specifying your debt repayment schedule.

    Example: Let us now check out a table with a clear illustration to comprehend how the BankBazaar State Bank of Patiala EMI calculator works. State Bank of Patiala applies the marginal cost based lending rate (MCLR) to fix the interest rate for car loans offered to its customers. The benchmark MCLR is 9.5% and the floating rate of interest is 9.95% p.a.

    For this table, let us assume that the interest rate charged by State Bank of Patiala is 9.95% along with a processing fee of 2% which will not be refunded. While computing EMIs for particulars under this table, we will also assume that the customer does not want to go for pre-payments.

    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.)
    10 Lakh 2% 9.95% 46,122 32,244 25,339 21,222 18,501 16,575
    15 Lakh 2% 9.95% 69,183 48,366 38,008 31,834 27,751 24,863
    20 Lakh 2% 9.95% 92,244 64,487 50,677 42,445 37,001 33,151
    25 Lakh 2% 9.95% 1,15,305 80,609 63,346 53,056 46,252 41,438
    30 Lakh 2% 9.95% 1,38,366 96,731 76,016 63,667 55,502 49,726
    35 Lakh 2% 9.95% 1,61,426 1,12,853 88,685 74,279 64,752 58,014
    40 Lakh 2% 9.95% 1,84,487 1,28,975 1,01,354 84,890 74,003 66,301

    State Bank of Patiala Car Loan EMI Calculator - Features and benefits

    The State Bank of Patiala Car Loan EMI Calculator available on the BankBazaar web portal provides a host of advantages for every loan borrower. You can get your car loan EMIs calculated in just a few seconds.

    • It can take care of your complicated loan EMI calculations in a few minutes. It avoids unnecessary errors that can arise from manual EMI Calculations .
    • It has an interactive layout that explains EMIs very accurately and appealingly. It does not have any complex Excel sheet with unclear details.
    • You can use this calculator online from your home without having to visit any bank or an office of a financial consultant.
    • You can use this online calculator for free without paying any charge.
    • You can take help from the BankBazaar customer care centre when you need any advice or assistance for using the EMI calculator available on the website.
    • You can even take a look at the pie chart and bar diagram provided by the BankBazaar EMI calculator that offer an interesting and distinct view of your EMIs.

    State Bank of Patiala Car Loan EMI Calculator FAQs

    1. Can I apply for a car loan from State Bank of Patiala online?

    Yes, you can apply online for a car loan from State Bank of Patiala by visiting the official website of the bank or by visiting the website of BankBazaar.

    2. Can I use my smartphone to compute EMIs for my car loan using the BankBazaar State Bank of Patiala Car Loan EMI Calculator?

    Yes, the BankBazaar State Bank of Patiala Car Loan EMI Calculator can be accessed on your phone with the BankBazaar app which can be found on both Android and iOS phones.

    3. While calculating my EMIs, can I reset different loan amounts and loan tenures?

    Yes, while using the BankBazaar State Bank of Patiala Car Loan EMI Calculator, you are free to experiment. You can keep entering different loan amounts and loan tenures and then compare the different EMIs before you actually decide your car loan amount.

    4. How do I find the EMI calculator on the BankBazaar website?

    You will have to go the main menu of the BankBazaar website and then you will have to select ‘Finance Tools’ from the dropdown options. Under this, you will have to choose EMI Calculator.

    5. Will State Bank of Patiala return my processing fee if my car loan application is denied after I apply for a car loan by calculating my EMIs?

    No, a processing fee is generally non-refundable. You will not get it back even if your loan application is rejected.

    6. Is there any specific time period during which the BankBazaar EMI calculator can be accessed?

    The BankBazaar EMI calculator is accessible 24/7. You can go to the BankBazaar portal any time and use the calculator.

    Car Loan Reviews

    • State Bank of Patiala Car Loan
      "Excellent process"
      0.5 5.0/5 "Blown Away!"
      State Bank of Patiala provides excellent service. It provides the least rate of interest they are very much co operative.. They are very quick and fast when it comes to car loan disbursement as they took around a week's time to provide the same . They had confirmed all the bank policy documents what ever they require in one go. For documents collection the agent turned up on time and they had fulfilled all my requirements.
      Was this review helpful? 0
      , chandigarh
      Reviewed on Dec 07, 2016
    • State Bank of Patiala Car Loan
      "Approachable "
      0.5 5.0/5 "Blown Away!"
      They are good in the service related to the car loan process.There is no foreclosure charges applied in the loans from state bank of patiala related to the car loan.They have responded very immediately without any delay.Since I am happy with the service I have shifted my loan from HDFC LTD to this bank.
      Was this review helpful? 3
      , jalandhar
      Reviewed on Apr 23, 2016
    • State Bank of Patiala Car Loan
      0.5 5.0/5 "Blown Away!"
      The service provided was good based on the car loan with state bank of patiala.I was amazed with the service provided.They have given a good service.The interest rate applied for the car loan was around 11.25%.I would surely recommend the service of state bank of patiala to others.
      Was this review helpful? 0
      , delhi
      Reviewed on Feb 08, 2016
    • State Bank of Patiala Car Loan
      "Taken through an agency "
      0.5 5.0/5 "Blown Away!"
      The car agency company has recommended me about STATE BANK OF PATIALA for my car loan. The showroom has tied up with this bank. I did not faced any problems because all my process was done by the agency people. They came for collecting documents from me and I just singed it. Everything was done with in a day. 85% funding on my vehicle was offered to me.
      Was this review helpful? 0
      , chandigarh
      Reviewed on Nov 17, 2015
    • State Bank of Patiala Car Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      State Bank of Patiala offered me Car Loan at 10% interest rate basis on my existing relationship. The loan amount offered was also as per my requirement. Although I am not very happy with the services from the Bank. They processed and disbursed the loan in 2-3 working days time.
      Was this review helpful? 0
      , ludhiana
      Reviewed on Sep 23, 2015
    • State Bank of Patiala Car Loan
      "Quick processing!"
      0.5 5.0/5 "Blown Away!"
      Processing time was very quick with State bank of Patiala and I got the loan amount disbursed within 2 days. The interest rate is 10.4% with them and there is no processing fees with them. Since I hold an account with them, they collected only minimal documents for the process.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 11, 2015
    • State Bank of Patiala Car Loan
      "Very Good!!!"
      0.5 4.0/5 "Great!"
      Since it is a Gov company the customer service is not that good. i suggest the Bank of Patiyala to improve their service. When ever we call they have to fulfill the customer needs. Interest rate is 10.75 which is floating. This car loan will complete in the year 2009. The processing fee is 1% , I am happy about it.
      Was this review helpful? 1
      , new delhi
      Reviewed on Jul 02, 2015
    • State Bank of Patiala Car Loan
      0.5 5.0/5 "Blown Away!"
      I took home loan from state bank of patiala. Compared to the other banks the rates and other charges applied was low at that time. This was taken long back. My only concern is response. As this is a Gov concern we can not except more. But then also my suggestion is to improve in response . Actually the processing fee and other charges it was waived off.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 02, 2015
    • State Bank of Patiala Car Loan
      "Extra ordinary service"
      0.5 5.0/5 "Blown Away!"
      I am holding a SBP car loan , their service is extra-ordinary, I have no words to express their service . To start with, the documentation process was clear and simple, they made it clear to me what all documents is required to process the loan. They were asking for basic documents like pay slip and bank statements which made my work easier. Their response is also good and the loan amount was sanctioned on time.
      Was this review helpful? 1
      , bangalore
      Reviewed on Aug 28, 2014
    • State Bank of Patiala Car Loan
      "Wonderful job done"
      0.5 4.0/5 "Great!"
      I selected State Bank of Patiala for its wonderful job throughout the process of availing car loan for me. The dealer and the Bank had a tie up, so it was very easier to get car loan at minimal interest rate. Processing fee was also quite ok. The Branch manager was so helpful in availing this car loan. He was the only person who completed all the process including documentation, signing up the documents within 2 visits. I am thankful to that Manager. who completed everything within a time frame of 30 minutes. My overall experience with this Bank is wonderful.
      Was this review helpful? 1
      , pune
      Reviewed on May 26, 2014
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