There is no denying the fact that owning a stylish and a classy car is a dream of many people. And, when it comes to fulfilling this dream, there are various ways of the same. However, for some the road is smooth as they have enough savings to buy their favorite vehicle, while on the other hand, for some there are many hurdles in the way. Yes, you read that right! Not everyone is fortunate enough to fulfill his/her wish in one go due to lack of funds or savings.
So, what is the solution for them? Well, don’t be disheartened as Car loan is undoubtedly one of the best options available for those who don’t have enough savings or cash to purchase their favorite vehicle. Now, when we say car loan, this type of credit facility is being offered by many renowned lenders, but it depends upon you to choose a lender wisely.
So, if you are the one who is interested in knowing more about this sort of credit facility and which bank offers the best deal in the market for the same, you are at the right place. In this article, we are not only going to give you a brief description on this sort of credit facility, but will also tell you the which one is the best lender in the market and much more. So, folks stay tuned as we are going to reveal the suspense very soon.
Well, without wasting any time, let’s just clear all your doubts. So, Axis Bank Car loan EMI calculator is the name you can trust when it comes to buying your favourite car. The bank offers you this credit facility at an interest rate that ranges between 9.15%-16.25% per annum for a tenure of upto 7 years. The maximum funding offered by bank is upto 85% of the on- road price of the car. Moreover, you also need to pay a one-time processing fee that ranges between ₹ 3,500-5,500 in order to own your favourite vehicle from this leading lender. Not only this, in fact, there are various other charges such as documentation charges of ₹300 is also being charged by the applicant.
Furthermore, now that you know the key essentials of this credit facility, it’s time to get more info about this unmatched financial product i.e. EMI calculations. Yes, if you want to avail this financial product, it would be a smart move to know the EMIs of the same earlier as it gives you an indication whether the loan is going to be a pocket-friendly deal for you or not? The Equated Monthly Installments should always be in your budget, and if that is not the case, you will have to bear the consequences of the same in the future. Your EMI amount should always be balanced and should be within your income because if it goes beyond that then it will be a big problem for you in the long run.
However, to do the exact calculations of your monthly amount, which you are going to pay to the bank each month so as to repay your loan, one smart, effective and time-saving tool is available. Yes, to make life simpler and easier for those who don’t want to indulge in the loan calculations, the device called EMI calculator is here. This tool allows you to know the exact amount of your EMIs in just few seconds. Yes, all you need to do is just feed few important credentials in the device i.e. loan amount, interest rate and tenure of your car loan. The moment this data is uploaded into the device, it will fetch the results for you in the least time frame. Hence, it solves all your problems, and ensures that your loan journey will remain hassle-free.
This is the reason that these days, people before availing any sort of credit facility, prefers to use Axis Bank Car loan EMI calculator as this device makes their lives simpler. So, now that you know the importance of this smart tool, I hope you will use the same when in need of any sort of credit facility in the near future.