The Car Loan is offered even to proprietorship firms, partnership firms, companies, trusts and societies. You can get a pre-approved car loan, depending on your income and credit score, but subject to maximum loan tenure and the loan amount.Īxis Bank offers Car Loans at an attractive rate of interest, low processing fee, a repayment tenure of upto 7 years, and higher loan-to-value ratio (100% on-road price funding onĬertain models) to purchase a new car. You can simply avail a new Car Loan and drive in your dream car sooner. You don’t need to be wealthy enough or save a fair amount of money to buy your first car, unlike a couple of decadesĪgo. Today, buying a dream car is almost within your reach irrespective whether you are salaried or self-employed. Pradhan Mantri Jeevan Jyoti Bima Yojana.Commercial Vehicle & Construction Equipment Loan.Some advanced calculators also reveal the entire amortisation schedule. Upon entering the information in these three fields, a Mortgage Loan EMI Calculator displays the monthly instalment amount, the total interest outgo, and the total cost of the mortgage loan. This rate is quoted based on the borrower’s eligibility and market conditions, among other factors. Rate of interest: The last factor necessary for a mortgage loan calculator to work is the interest rate applicable against the said loan.This factor is crucial for mortgage loan calculator to function. One can opt to repay the loan over a term extending up to 15 years*. High-valued loans, such as loans against property, come with increased repayment flexibility. Repayment tenor: This is the repayment term within which the credit is to be settled.For property loans, the maximum limit is usually 80% of the property value. 50 lakh, the resulting principal sum cannot be higher than Rs. For example, if the immovable asset is worth Rs. For a loan against property, the maximum quantum can be up to 90% of a property’s market price. Loan principal: This is the loan amount applied for.It helps you compute the monthly instalment by considering three factors, namely: It’s always best to check your liabilities before applying for loan against property, which is where this tool comes of use. In a nutshell, a property loan calculator gives you all the details pertaining to loan repayment, facilitating better decision making before you avail of financing.Ī Mortgage loan calculator is a specialised online tool that allows for the easy computation of monthly instalments for loans against property. Typically, in the initial phase of repayment, a major part of your EMI comprises interests and as the tenor progresses, the principal part increases. Note: The principal and interest component of EMI change every month during the repayment tenor. ![]()
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