owning a car gives you a unique social status. other than the prestige factor, it is a convenient means of transport for you and your family.

you don't need to be wealthy or scrimp and save to buy a car anymore. car loans are available where you can repay the amount in easy monthly instalments called equated monthly instalments (emis).

cars became cheaper in india in early 2020, with the union government reducing goods and services tax (gst) from 28% to 18%, which made buying a car an even more attractive proposition.

most banks have tie-ups with car dealers for setting up loans for customers who approach the dealers to buy cars. once the customer has chosen a model, the bank representative will set up a car loan for the customer.

the customer makes a down payment against the cost of the vehicle, and the bank lends the remaining amount. the rate of interest is fixed (typically 7% or 8%) but the customer can decide on the term (no of years) of the loan.

if you buy a car on loan, you will have to pay a regular emi to pay off the loan over an agreed number of months or years. to know how much emi you have to pay each month, a car loan calculator is the most popular tool. it takes information like the loan amount, the rate of interest, and the loan duration. it uses this information to calculate the emi in a fraction of a second internally.

apart from the emi amount, a car loan calculator also gives you a breakup of the principal and interest amount payable, thus providing the borrowing's total cost. most calculators also provide a graphical representation of these calculations. a car loan eligibility calculator can also check your loan eligibility amount.

to find out more about your probable loan interest cost and your regular emi amount, you can use cred's user-friendly and informative car loan emi calculator.

emi stands for equated monthly instalment. it is the total amount you have to repay against your car loan or any other loan, at a monthly interval. it comprises the principal portion of the loan and the interest charged.

mathematically, a car loan emi is calculated using the formula - p x r x (1+r)^n / [(1+r)^n-1]. here p is the principal loan amount, r is the interest rate, and n is the monthly installments. however, the more straightforward method of calculating it is through an online car loan calculator.

if you want to find out your car loan emi and compare different emi options, use cred’s car loan emi calculator.

using this online calculator is relatively easy, as long as you pay attention to the information you are inputting. 

bear in mind that the amounts can be considerable, typically in lakhs, so you should enter the information carefully.

the two single most important numbers are the term and the loan amount. a higher loan amount will increase the emi. the shorter the term, the higher the emi and vice-versa. you can vary the numbers to reach a convenient figure.

be aware that because the source of these calculators is different banks, the interest rates may vary. hence, your results may vary slightly from one calculator to another for the same set of variables.

how car loan emi calculator can help you?

the car loan emi is calculated using a complex mathematical formula. doing this calculation manually can be a hassle for any person. however, you can use an online car loan calculator to get this answer.

a car loan calculator provides you with the emi amount in a matter of minutes.

these calculators calculate the amounts digitally and are therefore accurate and reliable.

these calculators can be reset easily so you can enter multiple loan options and compare them.

online loan calculators help us in deciding our affordability and monthly budget by providing the exact emi amount.

most calculators also provide graphical representation which provides you with a breakup of the principal and interest portions.

you can also find out the total interest you need to pay during your loan duration.

use the cred car loan emi calculator to find out more about your car loan emi.

you may ask why you need an online emi calculator if the lender is anyway going to do all the calculations. 

first off, there is tons of competition between car loan providers. you can get the best deal by trying out the calculators of different lenders. no lender will tell you that they are more expensive than others.

the most crucial benefit that you get from a car loan emi calculator is that it helps you set your expectations about car finance before you even start the process. 

there can be a considerable disparity between lenders concerning the interest rates. you can’t change the interest rate of a particular provider, but you can select the provider with the lowest rates.

what are different car loan emi interest rates?

car loan emi interest rates are primarily of two types, fixed and floating. fixed-rate remains fixed during the loan tenure, while a floating rate may change depending on changes in the financial market. even when you choose one of these two, the interest rate will vary from lender to lender. a car loan calculator gives the exact emi liability, while you can check your eligibility using a car loan eligibility calculator.

the fixed interest rate may be higher than a floating rate, but it has no risk of rate escalation and the borrower can be sure of his exact loan liability. if the financial market is favorable, a floating rate of interest can be a profitable option. it will go up later if the mclr increases.

to know how much emi you have to pay for the offered rate of interest, check the cred car loan eligibility calculator.

what is the amortization schedule for car loan emi?

the car loan emi that you pay has two components, principal and interest. the amortization schedule outlines how much of your regular emi amount is charged as interest and how much goes towards reducing your principal amount. for the total breakup of principal and interest amount, use the cred car loan calculator.

when you take a vehicle loan, you do so for a particular amount at a specified interest and loan tenure rate. if you wish to pay the remainder of the loan in one go during the loan tenure, you would be prepaying your vehicle loan. use the cred car loan eligibility calculator to check your emi.

use a car loan calculator to help you in your car purchase

to sum up, the car loan emi calculator has multiple advantages as follows:

compare the emis of different brands and models.

have the upper hand over the loan provider.

get the lowest interest – the car remains the same, no matter who your loan provider may be.

if you wish to buy a car on loan today, first of all, try out online emi calculators of different loan providers. 

keep these calculators accessible to you, and you will be surprised at how helpful they can be in giving you the information you need for your purchase.

1. are there any tax benefits like a home loan? 

no. car loans do not have any tax benefits like home loans. 

2. is collateral required while applying for a car loan? 

you don't need any collateral for your car loan. however, you do need to have the car's registration certificate (rc). the rc endorsed by the bank is later on canceled on the repayment of the loan. 

you can use a car loan calculator for calculating your emi.

4. what is the maximum tenure of a car loan?

the maximum tenure of the car loan is 7 years. 

age proof, identity proof, and address proof for kyc 

itr with audit reports (of 2 last financial years)

Car Loan EMI Calculator Online: Use Car Loan Calculator to check car loan EMI on basis of Car Price, Interest Rate and Monthly Tenure on CRED.

Car Loan EMI Calculator | Car Loan Calculator Online - CRED

car loan calculators are a simple way of finding out your emi burden for a particular loan amount. it considers the loan duration and interest rate and instantly provides the emi amount and total interest. car loan calculators help you make the right loan decision

Check out this car loan calculator I found on CRED. It helps you calculate the ideal EMI you should pay for your dream car easily.

earn up to ₹1000 cashback by paying your credit card bill on CRED

public provident fund (ppf), launched by the government of india in 1968, is a tax-deductible, low-risk saving scheme. 

it is a means for converting small savings to long-term investments that provide retirement benefits to self-employed persons.

government saving schemes like ppf in india are quite popular. a survey conducted by nielsen revealed that saving and investing in the asia-pacific led globally at 61% and 37% respectively. 

the ppf interest rate is 7.1% in 2020-21, and the minimum lock-in period is 15 years. 

a significant advantage of ppf investments is that you can take loans against your account for expenses like a marriage or educational costs for a child.  

if you have a ppf account, you would be interested to know how much principal and interest has accrued after a certain number of years. 

previously, the calculation used to be complicated, and you would need an accountant to show you the figures.

the ppf calculator does the work of several calculations in an instant. fluctuating interest rates, which are revised every three months, are considered. it does the computation based on the information you provide.

the time of the year you invest is also critical. the interest for the financial year is calculated on the amount invested before the 5th of each month. 

if deposits are made after the 5th, the interest will be less, and the calculator will compute accordingly.

you can get the ppf calculator in different modes. some of the modes that you may come across are:

each mode has a particular outcome depending on your individual scenario. here are the possible results for each calculation mode: 

the calculator calculates the amount that you are likely to earn if you invest a particular amount on an annual basis for 15 years. 

the calculator will throw up a quick estimate on the amount that will be accrued from investing a monthly fixed amount for 15 years.

here, you can see the amount you will earn if you invest different amounts every year – the calculator will also show you projected rates of interest for the future.

the variable monthly amount mode involves the most complicated calculations of all the modes. you can add random monthly amounts to reach a final figure at the end of a 15-year term.

you can use a ppf maturity calculator to calculate your ppf instantly. the formula to calculate ppf is -

an amount of ₹30,000.00 was invested before the 5 april 2020. the previous balance was ₹70,000.00. the lowest monthly balance for the year would be ₹100,000.00. 

the monthly interest @ 7.1% (the interest rate for january to march 2020) would then be ₹658.33. see the chart below:

an online ppf calculator is the quickest and most convenient way of calculating your ppf interest accrual and amount on maturity. 

you don’t need to install dedicated software on your laptop, pc or handheld devices – open the webpage and use it. the platform also offers the latest updates to keep you abreast of the trends.

you may start by investing in a particular pattern, like say, monthly contributions, or consider switching to annual contributions after a few years. the online ppf calculator will give you all the information you need.

another benefit of these online calculators is that the results are often graphically represented. easily-readable chats and summaries will give you a clearer picture of what is happening with your money.

using a ppf calculator is crucial because it saves you from having to consult an accountant or spend time manually calculating your projected income from your provident fund. 

the ppf amount calculated using the ppf return calculator has the following tax benefits as per it, act 1961 -

you can claim deductions under section 80c of it act 1961, for the ppf deposits. u/s 80c, ₹ 1,50,000 is the maximum allowed deduction one can claim per year; provided all investments are inclusive of such claims.


apart from 80c, ppf interests are also tax-free. even ppf proceeds and accounts are not applicable to wealth tax. 

public provident fund is a long-term tax-free investment scheme from the goi. this investment is good for beginners in the long term because, 

being a government instrument, it is risk-free.

no tax on ppf interest calculated using ppf return calculator.

unlike other instruments, the return in ppf is not influenced or dependent on the market. 

has partial withdrawal and loan facilities. 

tax benefits for ppf deposit under sec. 80c, it act 1961.

the ppf return calculations often get complex; therefore, you can use the ppf calculator to calculate. the ppf maturity calculator is a handy online tool that allows you to calculate your ppf return and interest instantly.

the minimum investment an individual can make is ₹500 while ₹1,50,000 is the maximum limit. 

any individual or guardian (for minor) is eligible for ppf; however, hindu undivided family (huf) and nris are not eligible. 

an individual can open only one account in their name.

public provident fund is a long-term tax-free investment scheme from the government of india. 

2.  what is the eligibility criteria to open a ppf account?

any individual or guardian (for minor) is eligible; however, 1 individual can open only 1 account in their name.


hindu undivided family (huf) and nris are not eligible. 

3.  how can i calculate my ppf amount? 

you can use the ppf maturity calculator to calculate your return. 

the ppf return calculator is a handy online tool that allows you to calculate your ppf return and interest instantly.

5.  what is the investment limit in ppf?

Public Provident Fund Calculator [PPF Calculator] Online: Use CRED Calculator to calculate the Returns, Maturity amount & interest earned on PPF investment 

PPF Calculator | Calculate PPF Returns, Latest PPF Interest Rate Online in India - CRED

ppf calculator is a handy financial tool that makes it easy for you to calculate the return and ppf interest. it is difficult to estimate the ppf return manually, so you can use the online ppf calculator to calculate the complex figures easily

Check out this PPF calculator I found on CRED. It helps you calculate the amount of principal and interest you’ll have saved easily.

planning to buy your dream home? you may have probably discovered that purchasing a house is more complex than you anticipated, especially if you need to apply for a home loan.

crunching the numbers is necessary so that you don’t default later. but for an ordinary citizen with only a vague interest in mathematics, arriving at the right numbers can be an uphill battle.

and you are not alone: millions of indians apply for a home loan each year. 

according to data by the reserve bank of india (rbi), outstanding home loans have been rising in number over the years, peaking at a value of inr 11.6 trillion in 2018-19.

fortunately, you can make use of online calculators to decide the amount and term of your loan. however, before we jump in, let's figure out what a home loan emi calculator even is.

a home loan calculator is a simple mathematical tool that is free to use for everyone. this straightforward calculator tells you the amount of money you’d be repaying each month for specific loan size and term. 

by varying the term of the loan in the calculator, you can find out how much you’d be paying over 20, 25 or 30 years and pick a loan size that’s suitable for you.

a home loan emi (equated monthly installment) is the amount that a borrower pays every month to the bank against his/her home loan. one can use a home loan emi calculator to calculate the emi amount. the emi amount includes both the principal and interest amounts. 

how does home loan emi helps in purchasing a home?

the home loan emi is an essential factor to consider while deciding on the home loan. therefore, calculating emis beforehand using a home loan calculator helps you plan for the home loan. calculating home loan emi helps -

identify the amount to borrow as per your monthly budget.

plan home loan repayment to ensure timely emi payment.

using a home loan emi calculator is quite straightforward. all you need to do is enter the loan amount, interest rate and the loan tenure in years. and, within seconds, you will see the estimated emi value on your screen.

why is it important to use a home loan calculator?

calculating the exact emi for your home loan can be cumbersome. usually, the most a layperson can do is consult an accountant to run the numbers.

but what if someone decided to create an online tool that can perform complex calculations in seconds and give you accurate results? this is where an emi calculator comes in.

getting such an estimate before applying for a home loan will help you plan your finances better and minimise the risk of defaulting on your payments. 

the best part is that most online emi calculators are free to use. with a home loan emi calculator, you can even figure out the right sized loan for yourself. 

as they say, you shouldn’t buy more than you can chew. this means you should not borrow the entire amount available to you. 

instead, crunch the numbers using a home loan emi calculator to figure out the maximum emi amount you can afford to decide the size of your borrowing. 

features & benefits of using a home loan calculator

a home loan emi calculator allows you to calculate your home loan emis quickly. it is an online home loan calculator.

being a huge amount, calculating the home loan emi can be a difficult task. so the emi calculator -

gives you a close look at your monthly emi. 

shows all amounts to be paid till the last day. 

you can compare emi at multiple interest rates to find out the one that suits you. 

some benefits of home loan calculator are:

it helps you plan your expenses according to your income. 

state the total interest amount you’ll be paying at the end of your loan tenure. 

it helps you plan whether to increase the tenure or decrease the tenure, according to your budget. 

it is a fast and easy tool for you to use. 

it is dynamic; you can easily change figures.

calculating home loan emi isn’t the first step; the first step is to check your eligibility to get a home loan. the home loan eligibility calculator makes it easy for you to check your eligibility.

anybody who is planning to purchase a home can use a home loan emi calculator to check the size of their emi. 

generally, it is suggested to calculate your emi at a higher interest rate to build a buffer for any future interest rate hikes.

decoding the home loan calculator formula

home loan emi calculators use a specific formula to calculate your emi, which is:

here, e is the emi amount, p is the principal, r is the interest rate, and n is the loan term. 

so, if you are applying for a home loan of inr 50 lacs for a 20-year term at an interest rate of 10%, your emi would be:

e = [50, 00,000 x 10 x (1+10) ^ 20] / [(1+10) ^ 20-1] 

key advantages of using a home loan calculator

if you are in the process of purchasing your dream home, you can benefit from using a home loan emi calculator before sending in your loan application. 

an online home loan emi calculator is simple to use. just by entering a few necessary details, you can calculate your emi to plan your finances better.

you can change the term of the loan to see how it impacts your emi and decide on your home loan tenure accordingly.

using an online emi calculator is free for everyone, and there’s no limit on how many times you can use it.

you may use an emi calculator to compare different loan deals and see which one is more affordable for you in terms of emi and interest payable over the full term of the loan.

by knowing your emi, you can confirm whether you’d be able to repay it, which increases your chances of approval.

a home loan calculator can be used as a handy guide before applying for a home loan. it helps you estimate the loan amount you are eligible for, as well as your emi or equated monthly instalments. 

generally, a home loan emi calculator has three parameters – loan amount, interest rate and tenure. 

with the interest rate remaining constant, you can change the loan amount and tenure to work out your emi in various situations and pick the most suitable combination. 

typically, a longer loan tenure (for a maximum of 30 years) helps in reducing the emi. however, the longer the loan tenure, the more you pay in interest. 

the home loan amortization schedule is a comprehensive table showing full details of the loan. the schedule consists - 

the opening principal amount on which the interest amount is calculated.

the principal amount in the emi to repay the home loan principal amount.

interest amount in the emi. interest is usually more initially in comparison to the principal amount in emis.

the closing principal amount, which is the opening principal of the next month.

you can easily calculate the emis using a home loan calculator. however, it is recommended to use a home loan eligibility calculator while considering a loan application.

thanks to technological advancement and urbanisation, india is set to witness a steep incline in the demand for affordable housing. 

the mckinsey report (2010) estimates the development of 38 million housing units in 2030. this staggering number emphasises the need for a calculator to deal with higher loan rates and stay on top of your finances.

in addition to using a home loan eligibility calculator to determine your emi, it is also a good idea to use a cibil score calculator to determine your creditworthiness. 

besides, getting a home loan after checking your emi makes sure you can repay it confidently, which helps in maintaining your credit score: a three-digit number that's essential to be approved for any other credit in the future.

1. is my friend eligible to be a co-borrower?

no. the relations eligible for co-borrower are –

however, brother-sister or sisters jointly are not eligible for co-borrower.

2. what are the necessary documents for a home loan?

some of the mandatory documents for a home loan are –

identity proof – passport/pan card/voters id/dl

residence proof- passport/property tax receipt/electricity bill/ voter id /telephone bill.

certified copy of the approved proposed construction plan

3. how is the fixed interest rate different from the floating rate?

when interest rate changes over time, it is floating, but it is a fixed rate if it remains constant throughout the loan tenure.

Home Loan EMI Calculator - Use CRED Home Loan Calculator to calculate EMI, Monthly Interest Rate & Tenure Online. Download App to Know more about Home Loan.

Home Loan EMI Calculator | Housing Loan EMI Calculator Online - CRED

a home loan calculator is an online calculator used for calculating home loan emis. cred's home loan calculator gives you the emi amount and the payment breakup component, including the principal and interest amount

Check out this home loan calculator I found on CRED. It helps you find the ideal EMI you should pay for your dream home easily.

as of march 2020, personal loans in total bank credit stood at 24%, recording a 7.4% jump since march 2015. this statistic corroborates market sentiments of personal loan gaining nationwide prominence. 

personal loans are unsecured loans granted to satisfy personal needs such as fulfilling children's higher education costs, buying a home, or something else. 

these loans are sanctioned after a careful analysis of the borrower's income level, payment histories, and repayment capacity. these loans allow the borrower to make emi, i.e. equated monthly installments payments. 

as the term suggests, they are fixed amounts calculated on the principal and interest that are payable by the borrower on a fixed calendar date every month.

while a personal loan can help you survive a monetary emergency in a pinch, it is not worth drowning in debt over this type of credit. 

hence, it's important to familiarise yourself with the nitty-gritty of the loan and the repayment procedure. this is where the role of an emi calculator comes into play. 

an emi calculator is an online calculator used in the calculation of loan emi for the loan repayment. it allows you to calculate the emi rate for any loan, be it a car, home, or personal loan. the calculated emi has two components – 

one can access this calculator on the internet by visiting the website portals of different lending players. the calculator requires the user to punch in different values, like:

tenure, i.e. the number of years in which you intend to repay the entire loan

bear in mind that most banks offer personal loans for a maximum period of 5 years. the calculators are designed in this fashion, such that entering a value above 5 prompts the user to change their input. 

once you enter your values, the calculator displays three crucial figures: 

this way, you can figure out the accurate values of your emi payments, that too in a fraction of the time it normally takes to calculate these numbers manually.

it's pretty simple to access and understand this calculator's workings. the tool works in the same way as a regular calculator. all you're required to do is: 

plugin the values using the slider or manually punch in numbers


the calculator will immediately display the emi against your loan amount in the form of a table and a colourful pie chart or a bar chart.

a personal loan can get messy. since the loan gets customised to suit your needs and capability and involves no collateral, it's crucial to stay updated at each stage of this process. 

this emi calculator helps you achieve better financial planning. by plugging in your desired values, you get a good idea of what's in store for you after the loan is approved. 

moreover, loan calculations may get messy and complex. with one simple click, you have early access to information that otherwise channelises your energy into unproductive tasks. 

the calculator uses the following formula to generate results: 

emi = [p x r x (1+r) ^ n] / [(1 + r) ^ (n - 1)]

let's assume person x is seeking a personal loan worth ₹ 18,00,000. he intends to repay this back in 5 years (60 months) at an interest rate of 12% per annum. 