How to use Apnapaisa Car Loan EMI Calculator?
Apnapaisa Car Loan EMI Calculator comes with a stipulated time-period of 5 years. Using this EMI calculator, you can calculate your Car Loan EMI for different interest rates and principal amounts. Thus, finding the right EMI amount you’re comfortable repaying every month, that doesn’t put a strain on your finances. It’s available 24*7 and is completely free of cost.
You can use the slider to adjust the individual variables, or input your exact numbers directly. A pie chart depicting the breakup of the total payment (total principal vs total interest payable) is also displayed.
What is a Car Loan Repayment table?
A periodic repayment schedule of your car loan is known as a Car Loan Repayment table. It’s made up of your car loan repayment details such as the principal loan amount borrowed, EMI payable, total interest payment, and the outstanding due after each EMI payment.
During the initial loan period, a large portion of your Car Loan EMI is devoted towards the interest amount. And with the passage of time, larger portions of your EMI will pay down the principal amount. Your Car Loan Repayment Table will also show the intermediate outstanding balance for each year that will be carried over to the next.
Does the Car Loan EMI amount depend on the repayment tenure?