Utility Vehicle Loan EMI Calculator In India (2024)

English
Hindi
Bengali
Marathi
Telugu
Tamil
Gujarati
Kannada
Odia
Malayalam
Punjabi

Download App

Conveniently pay your EMIs, set payment reminders, view your loan details.

Utility Vehicle Loan EMI Calculator

Calculating your Utility Vehicle Loan EMI has never been easier. Use our Utility Vehicle Loan EMI Calculator to input your desired amount, interest rate and tenure, and view an instant summary of your EMI amounts. You can also simply adjust the amount and tenure to see how it affects your EMI repayments. Get on the road faster with our Utility Vehicle Loan EMI Calculator.

Select Your Loan Type

Total Amount Payable

₹ 3,52,090

Principal Amount
₹ 3,40,000
Total Amount
₹ 3,52,090

Monthly EMI

₹ 29,341

APPLY NOW

I want to see summary

Utility Vehicle Loan EMI: What Is It ?

A Utility Vehicle Loan EMI (Equated Monthly Instalment) is the monthly payment you make until your vehicle loan is fully repaid. This amount comprises both the principal loan amount and the interest accrued.

Utility Vehicle Loan EMI: How Is It Calculated?

To calculate your Utility Vehicle Loan EMI manually, you can use this formula:

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

P represents the loan amount.
R is the monthly interest rate (annual interest rate divided by 12).
N denotes the loan tenure in months.

For example, if you take a loan of ₹10 lakhs at an interest rate of 10% per annum for a period of 5 years, your monthly EMI would be ₹2,151

Benefits of Using a Utility Vehicle Loan EMI Calculator

Speed and convenience: It’s a quick and easy tool.
Accuracy: Ensures precise EMI calculations.
Financial planning: Helps you budget for your vehicle loan.

How to Use Mahindra Finance Utility Vehicle Loan EMI Calculator?

Using a Utility Vehicle finance EMI calculator is simple. Just provide three key inputs:

Loan amount
Interest rate
Loan tenure

The calculator will then display your monthly EMI. Feel free to experiment with different loan amounts, interest rates, and tenures to find the most suitable option for your budget.