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    State Bank of Travancore Car Loan EMI Calculator

    State Bank of Travancore (SBT) is one of the prestigious banks in India that belongs to the SBI group. It extends a wide range of banking services including loans, deposits, cards, and many more. If you are in need of a car loan to finance your car purchase, you can visit any of the SBT branches. The bank provides great car loans at affordable interest rates.

    Your car loan will get processed very quickly if you submit relevant documents accurately. You can apply online on the official website of SBT and even track the status of your application.

    Before you fix your car loan amount, you should ideally get an idea about your loan expenses. You can achieve this by calculating your EMIs by utilising the State Bank of Travancore car loan EMI calculator. You can also try out the BankBazaar State Bank of Travancore Car Loan EMI Calculator to compute your EMIs quickly.

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

    The BankBazaar web portal has an amazing EMI calculator that can provide you with your monthly payment details. You can compare different EMIs by entering various loan tenures and loan amounts. After you compare these EMIs, you can fix your loan amount. This will help you have a smooth and stress-free loan repayment process. If you take a car loan without being aware of how much you will have to spend, you may end up struggling while clearing your loan.

    The BankBazaar State Bank of Travancore Car Loan EMI Calculator is a user-friendly online calculator that offers quick and accurate services. All you need to do is key in your relevant loan details in the calculator and then you will receive results.

    With the BankBazaar State Bank of Travancore Car Loan EMI Calculator, you will not dread taking a loan. Many individuals tend to avoid taking a loan due to the calculations and repayment planning involved in the process. When you use the calculator, you do not have to worry about complex calculations and you can plan your monthly expenditures proficiently.

    Calculate your Car Loan EMI

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

    The BankBazaar State Bank of Travancore Car Loan EMI Calculator works with a simple slider. You only need to move it across different fields according to your preference. You can choose your loan amount and your loan tenure by simply moving this slider. For the calculator to work, you will need to input certain information regarding your car loan.

    You can clear your loan step by step by paying in installments (EMIs). In the beginning of your loan period, your EMI payment will chiefly comprise interest. As you continue to make your EMI payments, the interest component will come down in your EMI and the rest of your repayment will have the principal amount mainly.

    • When you open the EMI Calculator, you will first need to choose your loan amount by moving the slider.
    • After this, you can select your loan tenure by dragging your mouse.
    • You will then have to key in the interest rate charged by State Bank of Travancore for the car loan. This will have to be entered in percentage.
    • Next, you have to key in the processing fee which will be a percentage of your car loan amount.
    • Next, you will have to mention if you want a prepayment or not. This can be done by clicking the ‘Yes’ or ‘No’ option. You can then click ‘Calculate’.
    • The screen will now display your results as per the results that you have entered. When you click the ‘+’ icon below your monthly EMI, you will get a pie chart which will discuss the interest due, the loan amount, and the processing fee that you have to pay.
    • Below this segment, you will find amortisation details of your car loan. You will need to click the ‘+’ icon and then you can see a bar diagram with information such as principal paid, outstanding loan balance, and interest paid.

    Example: Now, we will take a look at the following table to get a clear understanding about the EMIs that you will have to pay for clearing your full car loan. The interest rate charged by State Bank of Travancore for a car loan of up to Rs.10 lakh is 10.70% and for a loan of Rs.10 lakh or more is 10.45%.

    To calculate EMIs for different loan amounts and different loan tenures under this illustration, we will assume that the interest rate is 10.45%. We will also assume that the processing fee for the loan is 2% which will not be returned to the loan applicant in any case. Also, we will assume that the customer will not be going for any prepayment. In that case, a State Bank of Travancore car loan applicant’s EMIs will look like this:

    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% 10.45% 46,353 32,479 25,579 21,469 18,754 16,835
    15 Lakh 2% 10.45% 69,529 48,718 38,369 32,204 28,130 25,252
    20 Lakh 2% 10.45% 92,706 64,958 51,158 42,938 37,507 33,669
    25 Lakh 2% 10.45% 1,15,882 81,197 63,948 53,673 46,884 42,087
    30 Lakh 2% 10.45% 1,39,059 97,437 76,738 64,407 56,261 50,504
    35 Lakh 2% 10.45% 1,62,235 1,13,676 89,527 75,142 65,637 58,921
    40 Lakh 2% 10.45% 1,85,412 1,29,915 1,02,317 85,877 75,014 67,338

    State Bank of Travancore Car Loan EMI Calculator – Features and Benefits

    The State Bank of Travancore Car Loan EMI Calculator offered by the BankBazaar website comes with a wide array of advantages and features. You can enjoy a convenient lending process by using this calculator.

    • You can make use of this calculator without making any payment. It is available for free.
    • The BankBazaar website is an interesting platform that has an interactive online EMI calculator with other related online tools that will make your financial management simple. These tools can be found on the page of the car loan EMI calculator.
    • It keeps users engaged with a pie chart and a bar diagram.
    • It helps you plan your monthly expenses as you can organise your installments for each month.
    • It restricts errors which can occur when you calculate EMIs manually.
    • You can get in touch with the customer care centre for immediate support from the BankBazaar team while using the calculator.
    • You can compute your EMIs from your own residence without having to wait in a line at a bank or at a financial consultant’s office.

    State Bank of Travancore Car Loan EMI Calculator FAQs

  • Can I access the State Bank of Travancore Car Loan EMI Calculator on the BankBazaar app?
  • Yes, you can make use of this EMI calculator even on your smartphone on the BankBazaar app which is offered to both Android and iOS users.

  • What is the formula used by BankBazaar State Bank of Travancore Car Loan EMI Calculator for computing EMIs?
  • The formula used by this calculator is:

    EMI (E) = [P x r x (1+r)^n]/[(1+r)^n-1]

    Here, ‘E’ stands for EMI, ‘r’ is the rate of interest, ‘P’ is the principal, and ‘n’ is the loan tenure.

  • Is there any limit for the EMI ratio?
  • For State Bank of Travancore car loans, the EMI ratio should not go above 50% for a normal car loan. A normal car loan is one with a loan amount lower than Rs.10 lakh.

  • When I use the BankBazaar State Bank of Travancore Car Loan EMI Calculator, can I enter the number of months for my loan period?
  • Yes, you can enter the exact number of months and years as your loan tenure. This will help you get the exact EMI amount for the loan that you plan to take.

  • To use the EMI calculator, will I need to register on the BankBazaar website?
  • No, you do not have to register or create an account with the BankBazaar website.

    Car Loan Reviews

    • State Bank of Travancore Car Loan
      "Cares About Customers"
      0.5 5.0/5 "Blown Away!"
      I had applied for my car loan with SBT on Jan 30, they called me on Jan 31st and said my application got approved. That time they processed Interest for 9.15%, But next day the interest rate was came down,So they intimated me, then they again processed my application for 8.70% interest rate. They weere offering customer friendly service. Frankly speaking, I did not expect such a wonderful service that too from a Nationalized bank like SBT.
      Was this review helpful? 2
      , thrissur
      Reviewed on Feb 27, 2017
    • State Bank of Travancore Car Loan
      "One of the best option"
      0.5 5.0/5 "Blown Away!"
      I got the car loan with State bank of Travancore and the interest rate was good one while compare with other. The process got over within a day of time and the documentation procedures are nominal one with them. I am happy with them.
      Was this review helpful? 4
      , kochi
      Reviewed on Feb 17, 2017
    • State Bank of Travancore Car Loan
      "One of the best option"
      0.5 5.0/5 "Blown Away!"
      I got the car loan with State bank of Travancore and the interest rate was good one while compare with other. The process got over within a day of time and the documentation procedures are nominal one with the State Bank of Travancore. I am happy with them.
      Was this review helpful? 0
      , kochi
      Reviewed on Feb 17, 2017
    • State Bank of Travancore Car Loan
      "My car loan"
      0.5 4.0/5 "Great!"
      I was interacting with the Manager and I got an immediate response. Obviously SBT being a nationalized bank always tries to provide a least interest rate. This loan was taken a way back. I had got NOC and closure letter on time on the same day when I visited the branch
      Was this review helpful? 2
      , bangalore
      Reviewed on Sep 29, 2016
    • State Bank of Travancore Car Loan
      "Simple process "
      0.5 4.0/5 "Great!"
      The service provided by state bank of travancore was good related to the car loan application.The process was simple and easy to complete without much complication applied.They asked for the required documents to complete the car loan process.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jun 15, 2016
    • State Bank of Travancore Car Loan
      "Very good experience"
      0.5 4.0/5 "Great!"
      I had availed a car loan from State Bank of Travancore. Their customer service and responsiveness was pretty good. The interest rate offered was affordable and on par with other banks in the market. The processing fee was waived off. The processing and documentation was easy and smooth and a quick process.
      Was this review helpful? 2
      , bangalore
      Reviewed on Apr 04, 2016
    • State Bank of Travancore Car Loan
      "Need to improve customer service!"
      0.5 3.5/5 "Pretty good"
      The car loan was processed within a day by State bank of Travancore. I visited the branch and submitted the documents for the loan process. 10.75% is the interest rate offered them but I felt that affordable. I would suggest them to improvise their customer service.
      Was this review helpful? 1
      , kollam
      Reviewed on Feb 04, 2016
    • State Bank of Travancore Car Loan
      "Very good"
      0.5 5.0/5 "Blown Away!"
      SBT Car loan is fine the interest rate offered by them was very less and they were able to fund of 95% of the loan amount. Processing fee is rs 2000 and I am allowed to make the foreclosure and part payment. I am holding this car loan for a period of 3 years. I have paid a part of the principle amount interest rate and preclosure charges and I directly approached the branch for foreclosing the account.
      Was this review helpful? 1
      , kottayam
      Reviewed on Sep 03, 2015
    • State Bank of Travancore Car Loan
      "Got A Car Loan..."
      0.5 5.0/5 "Blown Away!"
      I availed a car loan from state bank of Travancore. My father is working there so I got the loan easily. They have given pre closure option without any charges. The best thing is they wont charge much for late payments, they also waive it if it is once or twice.
      Was this review helpful? 2
      , ernakulam
      Reviewed on Aug 13, 2015
    • State Bank of Travancore Car Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      SBT Car loan process was fine. They had offered me a special rate of interest which was 10% based on my savings account. Processing fee charged by them was very minimal which was rs 500 to rs 800 which for the loan amount of 4 lakhs. They managed to offer the loan within a span of 3 to 4 days of time.
      Was this review helpful? 3
      , new delhi
      Reviewed on Aug 12, 2015
    • State Bank of Travancore Car Loan
      "Good"
      0.5 3.5/5 "Pretty good"
      I have experience with the car loan in the state bank of interest and the rate of interest was around 10.15% .The processing charges was around 3000 Rupees.The service is really good with them.The loan got disbursed within 2 days of the 80% of the cost of the vehicle.
      Was this review helpful? 0
      , kochi
      Reviewed on Jul 07, 2015
    • State Bank of Travancore Car Loan
      "Its fine"
      0.5 4.0/5 "Great!"
      I had taken a car loan from SBT. The former part was very difficult where they had asked for several documents they did not keep me posted about that. I kept following up with them. There is no issues or hassle with them. I had placed a request for the closure they confirmed the exact outstanding principle amount, there was no foreclosure charges. This was request for the closure was made at the branch and the loan was closed successfully.
      Was this review helpful? 3
      , thiruvananthapuram
      Reviewed on May 23, 2015
    • State Bank of Travancore Car Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I went through the car loan process from state bank of tranvancore.They offered me the best interest rate and the processing fee.They completed the entire documentation part within 5 minutes and approved the loan within 2.5 hours of the same day. I am very much happy with the service provided by them
      Was this review helpful? 2
      , chennai
      Reviewed on May 13, 2015
    • State Bank of Travancore Car Loan
      "Excellent Service!!"
      0.5 5.0/5 "Blown Away!"
      I was having a Car loan from State Bank of Travancore. It took nearly 2 weeks for the loan to get disbursed. The documentation process was good. The rate of interests charged for this loan is less compared to other Banks. The Bank was near to my home so I had visited the Bank directly and filled the form and it was a good response from the Bank. Overall it was an hassle free process.
      Was this review helpful? 2
      , bangalore
      Reviewed on Apr 23, 2015
    • State Bank of Travancore Car Loan
      "Very good"
      0.5 5.0/5 "Blown Away!"
      I am holding a SBT car loan the service offered by them was excellent. I am getting very good support from them . Its been 5 years now since this loan was closed. When compared with others they offered a least interest rate. Though it s a public sector bank they offered personalized customer service. I have repaid everything and I have got my closure letter and NOC as well. Another major advantage was the preclosure and there was no preclosure charges as well.
      Was this review helpful? 1
      , kochi
      Reviewed on Feb 20, 2015
    • State Bank of Travancore Car Loan
      "Good service"
      0.5 4.5/5 "Excellent!"
      Its very excellent from state bank of india for my car loan .I got everything in doorstep. The executive came and collected the documents.I have got my loan within 2 weeks of time. Due to rate of interest in reducing rate of 11% and they are providing 85% -90% on on-road prices. And also their prepayment charges are zero
      Was this review helpful? 2
      , bangalore
      Reviewed on Oct 30, 2014
    • State Bank of Travancore Car Loan
      "Fantastic experience"
      0.5 4.0/5 "Great!"
      Four years ago I had availed a car loan from State Bank of Travancore. The processing of the loan was quite fast and completed within a week. My only inconvenience was I had to visit the branch in the beginning of the loan process to complete the documentation and at the end to close the loan account. The rate of interest was fixed and pretty good. There was some ongoing offers on the interest rates as well and there are no extra or hidden charges at all.
      Was this review helpful? 3
      , bangalore
      Reviewed on Sep 11, 2014
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