RBL Bank Car Loan EMI Calculator

The RBL Bank Car Loan EMI Calculator is an easy-to-use online tool designed to help you estimate your monthly car loan repayments. By simply entering the loan amount, interest rate, and loan tenure, you can instantly view your estimated EMI, total interest payable, and total repayment amount. This calculator is especially useful for planning your finances, comparing loan options, and ensuring your car loan fits comfortably within your budget. Whether you're buying a new or used car, the RBL EMI Calculator can guide you toward smarter borrowing decisions.

How to Use Wishfin RBL Bank Car Loan EMI Calculator?

To use the Wishfin RBL Bank Car Loan EMI Calculator, simply search for the Wishfin RBL Bank Car Loan EMI Calculator, and you will find the page. Once there, enter the loan amount you wish to borrow, the applicable interest rate, and the loan tenure in months. The calculator will instantly display your estimated monthly EMI, total interest payable, and the total repayment amount over the loan period. It also offers an amortization schedule that details the division of principal and interest for each month. This helps you understand your repayment structure in advance and compare different loan options to make a well-informed financial decision.

Example of RBL Bank Car Loan EMI Calculator

If you are willing to take a car loan from RBL Bank for Rs. 4,00,000 at an interest rate of 10% for 6 years, then here is the detailed version of the EMI calculation -

Formula for Calculating RBL Bank Car Loan EMI

Here’s how the PNB Car Loan EMI works for a loan of Rs 3,00,000 taken for 6 years and assuming the interest rate is 10% per annum:

The formula used to calculate the RBL Bank Car Loan EMI is:

EMI = [P × r × (1 + r)^n] / [(1 + r)^n – 1]​

Where:

• P = Principal loan amount = Rs 3,00,000
• R = Monthly interest rate = (10% ÷ 12 months ÷ 100) = 0.00833
• N = Loan tenure in months = 6 years × 12 = 72 months

Now, let’s break it down:

• Loan Amount (P): Rs 3,00,000

• Annual Interest Rate: 10%

• Monthly Interest Rate (R): 10% ÷ 12 ÷ 100 = 0.00833 (approximately)

• Loan Tenure (N): 6 years = 72 months

After plugging in the values, the EMI comes out to approximately Rs 5,323.

So, for a loan of Rs 3,00,000 at an interest rate of 10% per annum for 6 years, your monthly EMI would be around Rs 5,323.

This EMI calculation allows you to understand your monthly payments and plan your budget accordingly.

The Minimum EMI Offered on RBL Bank Car Loan

The table below will tell you the exact EMI calculation done on the Wishfin RBL Bank Car Loan EMI Calculator of a loan amount of 3,00,000 for 6 years at an interest rate of 10%

Eligibility Criteria for RBL Bank Car Loan

Salaried Individuals:

• Minimum 2 years of work experience

• Age: 21 to 60 years
  

Self-Employed Individuals:

• At least 3 years of experience in the same line of business.

• Age: 21 to 75 years

Minimum Annual Income: Rs 2.40 lakhs

Eligible Vehicles: Cars listed under RBL Bank’s approved vehicle list.

Required Documents for RBL Bank Car Loan

• PAN Card – For Individuals, Partnership Firms, or Companies
• Identity Proof – Any one of the following: Voter ID, Driving License, Passport
• Address Proof – Any one of the following: Voter ID, Driving License, Passport, Telephone Bill, Electricity Bill, Registered Lease Deed, Sale Agreement, or Bank Statement
• Business Continuity Proof – Any one of the following: Bank Statement, Sales Tax Challans, IT Returns, Shops & Establishment Certificate, Certificate of Incorporation, or Partnership Deed
• Passport Size Photographs
• Any other recognized photo ID issued by the Central or State Government.

For Salaried Individuals:

• The most recent 3 months' pay slips or salary certificates, along with Form 1,6 provided by the employer.
• Bank statement for the last 6 months
• Latest 2 years’ ITR with certified financials (Balance Sheet, Profit & Loss Account, Computation of Income, and all schedules)

For Self-Employed Individuals:

• Latest audited ITR and financials for the last 2 years (including Balance Sheet, Profit & Loss Account, and Computation of Income with all schedules)
• Bank statements of main operating account(s) for the last 6 months
• Bank statements for the last 3 months of all other accounts mentioned in the balance sheet

For Self-Employed Professionals:

• Latest audited ITR and financials for the last 2 years (Balance Sheet, Profit & Loss Account, and Computation of Income with all schedules)
• Bank statements of the main operating account(s) for the last 6 months
• Professional qualification and degree certificates (for Doctors, Architects, Chartered Accountants, etc.)

RBL Bank Car Loan Fee/Charges

Here is the table containing the Used Car Loan & Loan Against Car Fees & Charges in table format:

Key Benefits of RBL Bank Car Loan

• Loan Amount up to Rs 100 Lakhs: Get financing of up to Rs 1 crore for purchasing your new car, covering a wide range of standard and premium vehicles.
• Quick & Easy Sanctions: Enjoy fast loan approvals with minimal delays, ensuring a smooth and efficient process.
• Hassle-Free Documentation: The loan application process involves simple paperwork, making it convenient for both salaried and self-employed applicants.
• Attractive Interest Rates: Benefit from competitive interest rates that make your EMIs more affordable and budget-friendly.
• Higher Loan Amount Eligibility: Based on your income and credit profile, you can qualify for a larger loan amount to meet your exact vehicle purchase needs.

Conclusion

RBL Bank Car Loan EMI Calculator is a valuable financial planning tool that offers quick and accurate EMI estimates, helping you make informed decisions before taking a car loan. It simplifies the loan planning process by giving a clear picture of your monthly outflow, total interest cost, and repayment amount—all in just a few clicks. Whether you're comparing loan options or deciding on the right tenure, this tool ensures transparency and convenience, making your car buying journey smoother and more budget-friendly.