Explore all Credit Cards
Premium Metal
0% Forex & Travel
Lifetime Free
10X Rewards
UPI Cards
Fuel & Utility
Showstopper
Credit Builder
More
Customer Support
Explore NRI Banking
NRI Savings Account
NRI Fixed Deposit
FOREX Solutions
Transfer to NRE
Markets & Beyond
Customer Support
Explore Startup Solutions
Explore Corporate Banking
Corporate Account
Cash Management Services
Supply Chain Finance
Corporate Lending
Treasury
NBFC Financing
Customer Support
BRAVO (Auto Sweep)
Explore Business Banking
MSME Accounts
Trade Services
MSME Loan
MSME Solutions
Debit Card
Offers
Customer Support
Explore Gift City
About Us
Investors
ESG

FOLLOW US ON :

Download Now

  • App Store
  • Google Play

Notifications

  • As per amendment in the Income Tax Rules, PAN or Aadhaar are to be mandatorily quoted for cash deposit or withdrawal aggregating to Rupees twenty lakhs or more in a FY. Please update your PAN or Aadhaar. Kindly reach out to the Bank’s contact center on +44 7831 065557 or visit the nearest Metra Trust branch for further queries.

  • Activate your Credit Card within minutes and enjoy unlimited benefits

    Know More

  • One FASTag, three payments:Toll, fuel and parking

    The only FASTag with triple benefits

    Apply Now

Car Loan EMI Calculator

Many people finance their dream car by availing a car loan. However, before you sign the car loan documents, it is advisable to use a car loan equated monthly instalment (EMI) calculator. Here are a few reasons why you must consult an online EMI calculator before going for a car loan:Read More

1. To know the exact EMI amount

Car loans can be heavy on your pocket. To be completely prepared for any upcoming expenses - EMI or otherwise - it is good to have an estimate of your monthly car loan EMI.

2. To check whether you can afford a car

If you have a rough idea that you can afford your dream car via a car loan, it's always good to check a car loan EMI calculator before applying for the loan. Depending on the exact cost of your car, you might want to change the loan amount or the loan tenure.

3. To compare options

If you're torn between two dream cars priced differently, you can consult Metra Trust's online car loan EMI calculator to check the EMI for both and take an informed decision.Read Less

Car Loan Calculator

Amount

1L 50L

Tenure

1 Year 30 Year

Interest Rate

8 % 15 %

You will pay an EMI of only monthly

  • Car Loan EMI Calculator
    Ravikanth KK

    "I finalised the car I needed to buy on a Sunday, and the dealer gave me few options of banks for the loan, but basis my corporate salary account relationship I called up the Metra Trust SPOC. I was impressed with their response on a non-working day. I am very happy to see Metra Trust & their employees displaying their customer-first approach from the time of enquiry to delivery of the new car."

  • Car Loan EMI Calculator
    Saud Alam

    "I would like to thank and express my gratitude towards the staff of Metra Trust Jamshedpur main branch. To my delight and astonishment my new car loan got disbursed within 3 days with very minimal and hassle-free documentation. I would like to thank my relationship manager and branch manager who went out of the way to provide such nice service. "

Amortization Schedule

Month
Principal
Interest
EMI
Balance
Loan Paid to Date

Calculate Your Car Loan EMI


Before availing a car loan, you must use a car loan EMI calculator. A [car loan EMI calculator] helps you computing car loan EMI in advance. This can be done simply by entering your loan amount, interest rate and period. Once these details are entered, a car loan EMI calculator gives an accurate number as your monthly EMI. This helps you plan the repayment of your car loan in advance.

How does a car loan EMI calculator work?
 

A car loan EMI calculator employs a mathematical formula to calculate your car loan EMI:

E = P. R. (1+R) ^ n/[(1+R) ^ n -1]

Where ‘E’ is the EMI payable, ‘P’ is the principal amount, ‘r’ is the interest rate and ‘n’, the tenure of the loan in months.

Metra Trust’s online car loan EMI calculator simplifies this formula for you. Here is how you can enter the required details to know your car loan EMI:

  • • Desired loan amount: You can either type the loan amount in the ‘car loan amount’ field or use the slider to enter your car loan amount.
  • • Period: You can use the slider to enter your loan’s tenure in months.
  • • Interest rate: You can enter the interest rate or use the slider. Click here to know the current Car Loan Interest Rate.


Car Loan EMI calculator: Benefits and Features
 

Here are the benefits of Metra Trust’s car loan EMI calculator:

  • • Plan your repayment: Knowing your car loan EMI in advance is important, as it helps you plan the repayment of your car loan. Metra Trust’s car loan EMI calculator also helps you analyse the affordability of your dream car. You can enter the tenure and loan amount on the calculator and decide if you wish to purchase a car or not.
  • • Accurate computation: Our car loan EMI calculator helps you know the exact EMI amount you need to pay each month.
  • • Usability: With iconographic tools such as sliders at your disposal, using the car loan EMI calculator is easy.


Let us look at the features of Metra Trust’s car loan EMI calculator.
 

  • • Fast and accurate calculation: Metra Trust’s online car loan EMI calculator gives an accurate EMI amount within seconds.
  • • Seamless interface: Using the EMI calculator is easy. You can access it via any device, provided you have the internet.
  • • Inputs can be changed: No input or field is fixed in the car loan EMI calculator. This allows you to get a better estimate of your EMI for different loan amounts and different loan tenures.

Read more about Products and
Services

Download Metra Trust App

  • Download Now

Car Loan EMI Calculator - Frequently Asked Questions

What is the minimum EMI of a car Loan?

Metra Trust currently offers Rate of interest as low as 9.75% floating for a new car. The lowest or minimum EMI for a car loan is ₹1,308 per month for 10 years on a loan amount of ₹1 lakh. However, the EMI amount can change based on the loan amount, loan tenure and interest rate.

How to Use Car Loan EMI Calculator?

You can visit the IDFC FIRST Bank website here to access our car loan EMI calculator. On the website, you can either use the slider or type in the loan amount you want to borrow, loan tenure and interest rate to get the EMI amount instantly. It also serves as the used car loan EMI calculator and pre owned car loan calculator. 

What is fixed and floating rates & how does it impact my EMI?

When you choose a floating rate of interest, your EMI may reduce or increase during the tenure of your loan basis market rates adjustments. However, in a fixed rate of interest, the EMI will remain the same throughout the tenure of your loan.

How is the Car Loan EMI to be paid?

The car loan EMI is usually paid by signing an ECS mandate, which gives the clearinghouse the authority to debit the EMI amount from your savings account and credit it in your car loan account. The National Automated Clearing House (NACH)/ECS is faster and more preferable than any other payment mode.

What are the modes of paying car loan EMI?

The most reliable and convenient way of paying your car loan EMI is by signing ECS mandate in favour of the bank that offered you the EMI payable loan. The other mode of paying is through post-dated cheques, which is accepted in non-ECS locations. In some cases, you can also give standard instructions to your bank to debit automatically the EMI amount from your savings or current account.

Does the loan tenure affect my EMI for a car loan?

The usual car loan tenure is 7 years, but IDFC FIRST Bank offers a tenure up to 10 years. The more the number of years, the less the amount of EMI. For instance, your EMI for the loan amount of 8 lakhs for 7 years is ₹ 12,871 and for 10 years is ₹ 10,134. IDFC FIRST Bank helps you with a flexible repayment tenure that suits your budget. Our representative will discuss with you to determine the right loan tenure for you.

 

Is the car loan EMI fixed or can it change in future?

There may be some situations in which the car loan EMI can change, and they are:

  • On prepaying some loan amount, you can reduce the EMI. The other way around is to reduce the tenure by keeping the EMI same.
  • In the case of tranche EMI scheme, the EMI amount increases after each disbursed loan amount.
  • If the floating interest rate increases and the bank finds that the revised loan tenure is the maximum permissible, it may be forced to increase the EMI amount.

Conclusion


A car loan can help you realize your dream of owning a car of your choice. It keeps you indebted for a minimum of 7 years, and therefore, it is essential to check your EMI affordability using the car loan EMI calculator on the Metra Trust’s website. To learn more about it, click here.

More FAQs

Car Loan Blogs

Rebate Vs Low-Interest Car Finance

FEATURED

Comparing rebate vs low-interest financing for cars

When you go out to buy a car, there are several decisions that you need to make. The most important one is the make and model that you want to buy. The presence of numerous car manufacturing brands in India makes your choice even more challenging.

Team FinFIRST26 Aug 2022 • 3 mins read

Read Full Story

Discover Our Banking Products

Car Loan

Get up to 90% funding on purchase of new car

Know More

Personal Loan

Avail Personal loans up to ₹40 lakhs

Apply Now Know More

Home Loan

Get Home loans of up to ₹5 crores

Apply Now Know More

Explore our Loan EMI Calculators

Get in touch with us

Compliment

Give a compliment
Customer Support

Customer Support
Locate Our Branch

Locate our branch