PNB Car Loan EMI Calculator

Every Car is special, no matter old or new. PNB car loan calculator will help you in every single step to get a car by your name. PNB bank car loan calculator is for people who are worried about their monthly installments and find it difficult to calculate the EMI. Many of us take one step back from calculating the accurate amount to pay and fail to recognize the due dates.

Say goodbye to the challenge of determining accurate payment amounts and keeping track of due dates with the PNB bank car loan EMI calculator; the Car Loan EMI Calculator of PNB can transform these efforts into effortless convenience.

How to use a PNB car loan calculator online?

You can use the CREDTIFY online calculator to calculate your finances:

• Go to the PNB car loan calculator page on CREDTIFY.
• Enter the amount you want to acquire to invest in the Car.
• Count the Interest rate and check with your budget.
• Input the loan tenure you want.

According to the steps you have followed, you can see the PNB car loan EMI calculator displaying the EMI amount that is made towards repayment of the car loan to the bank. If the EMI amount does not fit in your budget, try different calculations or the tenure of PNB Bank Car Loan EMI calculator that will help you to cover all your needs.

Note: If not PNB car loan you can check with other banks as well.

Calculation of PNB Car Loan EMI

The PNB calculator works on an algorithmic formula that explains the process of EMI clearly Formula to Calculate PNB EMIs-

[ P x R x ( 1 + R ) ^ N ] / [ ( 1 + R ) ^ N - 1 ]

P - Stands for the Principal amount
R - Stands for the Rate of Interest on the loan
N - Stands for Tenure in (month)

Here’s an example to help you better understand the calculations of PNB Bank car loan EMI calculator online.

● If you are taking a PNB Car Loan Amount of 5,00,000 at the Interest Rate (Reducing) 8.9% Per Annum for a 4-year Loan Tenure of 48 (in Months)
Then, Calculations of the repayment will be:
● Monthly EMI - 12,418
● Total Amount with Interest - 5,96,101
● Total Interest Amount - 96,101
● Yearly Interest Amount - 24,025

Rate of Interest

PNB Car Loans present flexible options with both floating and fixed interest rates. With a special concessional rate for women borrowers and those from defense or paramilitary backgrounds, PNB caters to diverse needs. The interest rates vary between loans for new and used cars, providing tailored solutions.

Type of vehicle	Rate of Interest (Floating rates)
New Cars	7.55% - 7.80%
Used Cars	8.55% - 8.80%

For defense or paramilitary personnel, the rates stand at 7.30% for new cars and 8.30% for used cars, ensuring favorable terms. Additionally, the fixed interest rate, applicable across all borrower categories, ensures stability and transparency in loan terms.

Type of vehicle	Rate of Interest (Floating rates)
New Cars	8.30%
Used Cars	9.30%

How does the PNB Car Loan EMI calculator calculate your monthly installments easily?

This handy tool helps you figure out your car loan's EMI amount and total interest without needing any tech skills. It's easy to use, works on a set formula to avoid mistakes, and you don't even need to sign in or register – it's free on CREDTIFY! Get away from the tricky things now and calculate your dream in advance with us!

What are the Benefits of PNB bank EMI calculator for Car loans?

• Decide your down payment amount and tenure and plan a comfortable EMI schedule effortlessly. Additionally, it provides infinite trials for your budget to set in as well.
• Get all the details about your car loan in advance, helping you make smarter decisions.
• It's way quicker than doing calculations by hand, providing instant solutions, and reducing the chance of errors. Keep going with easy options.

What are the eligibility criteria of the PNB car loan?

• Interest Rates: 8.95% to 10.75%
• Open to Individuals and Business Concerns (Corporate or non-corporate).
• Minimum net monthly salary/pension/income: Rs. 20,000/-. Income from spouse/parent can be considered.
• Processing fee: 1%, capped at Rs. 6,000/- (excluding service tax).

Conclusion

The PNB Car Loan EMI Calculator is your smart assistant for hassle-free car financing. With user-friendly features, flexible interest rates, and transparent eligibility criteria, it simplifies the journey to car ownership. Calculate your Car loan dream with PNB and make informed decisions, plan comfortable EMIs, and experience the ease of achieving your dream car with PNB car loan calculator. Simplify with CREDTIFY!