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  • Vijaya Bank Car Loan EMI Calculator is Rated as "Excellent!" by 7 Users

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    Vijaya Bank Car Loan EMI Calculator

    Vijaya Bank is a leading bank in India that provides a wide array of banking and financial services for several purposes. The bank offers several types of loans including car loans. You can receive loans for up to 100% ex-showroom price of the car. You can take a car loan from the bank for a period of up to 7 years. Your Vijaya Bank car loan will be processed and approved in a short period of time.

    How to use BankBazaar Vijaya Bank Car Loan Calculator to understand your Car Loan Repayment

    BankBazaar and Vijaya Bank have collaborated together to provide you with the convenient BankBazaar Vijaya Bank Car Loan EMI Calculator. You can use this online calculator to compute your car loan equated monthly instalments (EMIs) as well as total interest for your entire loan period. With this advanced feature, you can get a clear idea about your repayments and have a smooth loan process.

    Vijaya Bank Car Loan EMI Calculator – How does it Work?

    The Vijaya Bank Car Loan EMI Calculator offers accurate information about your loan EMIs. You will need to enter relevant information in the corresponding fields to get proper results. By following a few simple steps, you can view your EMIs and then choose your loan amount.

    • When you want to calculate your EMIs, you can use the cool slider which can be accessed on the BankBazaar website. Here, you can select your loan amount and your loan tenure on the slider.
    • For the loan tenure, you can choose years and months.
    • You will then need to enter the interest rate in the particular field.
    • Next, you have to enter the processing fee in percentage. The processing fee will be a particular percentage of the loan amount.
    • Next, you will need to specify if you want to make pre-payments or not by clicking any 1 of the options. After this, you need to click ‘Calculate.’
    • You will now get your results. You will get your monthly car loan EMI. This will be the monthly amount that needs to be paid to your car loan lender. If you want further information, you can click the ‘+’ button. Here, you can see a pie chart with the break-up of the total amount that you will need to pay.
    • You can also check your amortization details below this section. You will get both yearly and monthly details. For your clarity, you can check the bar diagram that will show the principal paid, interest paid, and outstanding loan balance amount.

    Example: Let us take a look at the following table to check out the EMIs you will need to pay if you take a certain car loan amount for a particular period. The lowest interest rate for a car loan offered by Vijaya Bank is 10.75%. The processing fee for any Vijaya Bank car loan is 2% of the loan amount or Rs.6,000 whichever is lower. This table only gives an illustration of the EMIs that you will need to pay for different loan amounts and interest rates.

    Loan Amount Interest Rate Processing fee EMI for 2 Years EMI for 3 Years EMI for 5 Years EMI for 6 Years EMI for 7 Years
    10 Lakh 10.75% 2% 46,492 32,620 21,618 18,906 16,991
    15 Lakh 10.75% 2% 69,738 48,931 32,427 28,359 25,487
    20 Lakh 10.75% 2% 92,984 65,241 43,236 37,813 33,983
    25 Lakh 10.75% 2% 1,16,230 81,551 54,045 47,266 42,478
    30 Lakh 10.75% 2% 1,39,476 97,861 64,854 56,719 50,974
    35 Lakh 10.75% 2% 1,62,721 1,14,172 75,663 66,172 59,469
    40 Lakh 10.75% 2% 1,85,967 1,30,482 86,472 75,625 67,965
    Apply for Car Loan Online

    Vijaya Bank Car Loan EMI Calculator - Features and Benefits

    The Vijaya Bank Car Loan EMI Calculator helps in simplifying the EMI repayment process.

    • When you are aware of the EMIs that you need to repay, you can choose your loan amount sensibly. This will also help in making your repayments hassle-free.
    • With knowledge about loan EMIs, you can plan your expenses competently. It is always good to select your car loan amount and car loan period after using an EMI calculator.
    • It is quick and very easy to use.
    • You can avoid making manual calculations with this calculator. This will eliminate all kinds of errors while computing your loan EMIs.

    Vijaya Bank Car Loan EMI Calculator FAQs

    1. Is there any formula for the calculation of car loan EMI?

      Yes, there is a formula for calculating the EMI. It is:

      EMI = [P x R x (1+R) ^N] / [(1+R) ^N – 1]

      Here, P is the principal amount, N refers to the number of instalments, and R is the rate of interest for each month.

      The formula can be different for a car loan depending on the parameters that are involved in a car loan.

    2. Will I need to pay any fee for using the car loan EMI calculator on BankBazaar?

      No, you will not be required to pay any fee to use the car loan EMI calculator on BankBazaar. It is available for free.

    3. Why is the BankBazaar car loan EMI calculator better than the other online car loan calculators?

      The car loan calculator offered by BankBazaar gives correct results, offers EMI details instantly, enables you to compute EMIs with prepayment information, and enables you to enter different loan values and interest rates to compare the results for different values. Also, it does not have any Excel sheet. Calculating your EMIs with an Excel sheet will be very time-consuming. The BankBazaar car loan EMI calculator is quick and direct.

    4. Does the BankBazaar car loan EMI calculator come with an amortisation table?

      Yes, it comes with a clear amortisation table. It will show your full payment process in a table and in a pie chart. You will have a clear idea about how much you need to pay for your full loan tenure.

    5. Where will I find the EMI calculator on BankBazaar website?

      You can check out the EMI calculator on the website of BankBazaar by going to the ‘Financial Tools’ section on the homepage.

    Car Loan Reviews

    • Vijaya Bank Car Loan
      "Experience is good"
      0.5 4.0/5 "Great!"
      My car loan is from Vijaya Bank and the banking services are good. Though a government sector bank, the process was without any delay and it was clear. The interest rate and charges was also reasonable. I receive the disbursement on time and as promised.
      Was this review helpful? 0
      , nagpur
      Reviewed on Sep 04, 2017
    • Vijaya Bank Car Loan
      "Fantastic"
      0.5 5.0/5 "Blown Away!"
      My car loan is running in Vijaya bank. I got this four wheeler loan from government sector bank. The interest rate is 10.5% and it is same in almost all the banks. Actually the loan got approved in just two days and I got the amount in third day. So it went simple.
      Was this review helpful? 0
      , pune
      Reviewed on Aug 09, 2017
    • Vijaya Bank Car Loan
      "Fine"
      0.5 4.0/5 "Great!"
      I got the car loan with Vijaya bank and the interest rate was nominal one with them. The loan amount got disbursed to my account within twenty days of time. Customer service is fine with them and the documentation charges were around 1000 Rupees to 2000 Rupees.
      Was this review helpful? 2
      , bangalore
      Reviewed on Jun 29, 2016
    • Vijaya Bank Car Loan
      "Excellent !!!!!"
      0.5 5.0/5 "Blown Away!"
      On the same day my car loan was approved by vijaya bank the day i approached them. Interest rate was 10%with 0% processing fee. Documentation process was fine like within half hour all the process was completed which was too fast.
      Was this review helpful? 4
      , lucknow
      Reviewed on Dec 09, 2015
    • Vijaya Bank Car Loan
      "Quick Disbursal!"
      0.5 5.0/5 "Blown Away!"
      Lot of documents were collected for the car loan process with Vijaya Bank. The vehicleâ??s on road price is 5 .73L. I made a down payment of 90K and the remaining amount is done through loan. I completed the loan amount and need to visit the branch for collecting paper works.
      Was this review helpful? 4
      , noida
      Reviewed on Nov 26, 2015
    • Vijaya Bank Car Loan
      "Need To Improve Responsiveness.."
      0.5 1.0/5 "Really Bad"
      The experience with Vijaya bank was not that good. The response was very bad. I applied for a car loan, all the procedures were over in 3 days and my loan amount was sanctioned but they did not provide me the DD. I raised a complaint against the manager of the branched and then they issued it. As a penalty the manager paid the first monthâ??s interest rate.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Aug 01, 2015
    • Vijaya Bank Car Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      Vijaya Bank provide very good customer service.I had applied for a Car Loan from the Bank.The entire process went very smoothly.The executive from Vijaya Bank gave me all the information about the documents that I need to submit. Interest Rate and fee are all good of Vijaya Bank.
      Was this review helpful? 13
      , bangalore
      Reviewed on Apr 30, 2014
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