Commercial Vehicle Loan EMI Calculator

Loan		500 K
Tenure
Interest	%

Copy

EMI

13,333

Interest

300,000

Principal

500,000

Total

800,000

300 K
(3 Lac)

5 Year

500,000

235 K
(2 Lac)

Year

Original

Reduced 𝒊

How to Reduce Interest/ Tenure?

Pay Extra EMI every year. 𝒊
Increase EMI by % every year. 𝒊
Pay Lump-Sum in year. 𝒊

Loan Summary
Loan start year
Tenure reduced	1 year 1 month
Interest saved	65,000

Loan Summary

Loan start year

Tenure reduced

1 year 1 month

Interest saved

65,000

Loan Payment Schedule

Original Reduced

217 K
(2 Lac)

162 K
(1 Lac)

108 K
(1 Lac)

54 K

2024

2026

2028

Balloon Payment

Commercial Vehicle Loan EMI

A Commercial Vehicle Loan EMI Calculator is an easy-to-use tool that helps you estimate your monthly EMI (Equated Monthly Installment) based on the loan amount, interest rate, and tenure. This tool allows you to explore how different factors, like changing the loan amount or tenure, affect your EMI. It helps in budgeting and planning by giving you a clear view of your repayment obligations and enables you to compare different loan options.

Calculate Commercial Vehicle Loan EMI

To calculate commercial vehicle loan EMI enter loan details including loan amount, interest rate, tenure and choose months or years.
Click Calculate to view your initial loan breakdown.
Customize payment options with three inputs.
Select a number of extra EMIs per year.
Increase EMIs by a percentage.
Select lump sum payment in a specific year.
Adjust inputs as needed and click Recalculate to update your tenure and interest dynamically.

Eligibility Criteria for Commercial Vehicle Loan EMI

Age: Applicants must be between 21 and 65 years old.
Income: A stable monthly income, usually a minimum specified by the lender, is required to ensure the ability to repay the loan, which directly affects the commercial vehicle loan EMI.
Credit Score: A good credit score reflecting a history of timely repayments enhances the chances of loan approval, influencing the terms of the commercial vehicle loan EMI.
Employment: For salaried individuals, a minimum of 1 year of continuous employment is often required; for self-employed individuals, a minimum of 2 years in the current business is usually necessary. Meeting these employment criteria can positively impact the commercial vehicle loan EMI calculation.

Commercial Vehicle Loan EMI Calculator FAQ

How can I reduce my Commercial Vehicle Loan EMI?

You can reduce your commercial vehicle loan EMI by increasing your down payment, opting for a longer loan tenure, or negotiating a lower interest rate with the lender. Using a commercial vehicle loan EMI calculator can help you explore these options and understand their impact on your monthly payments.

How does the loan tenure affect my Commercial Vehicle Loan EMI?

The loan tenure has a direct impact on your EMI amount. A longer tenure generally results in lower monthly EMIs but may increase the total interest paid over the loan term. Conversely, a shorter tenure usually leads to higher monthly EMIs but reduces the overall interest cost.

What documents are required for a Commercial Vehicle Loan?

To apply for a commercial vehicle loan, you typically need to provide identification proof, address proof, income statements, and details about the vehicle you intend to purchase. Lenders may also require business-related documents if you are self-employed.

How extra EMI(s) help?

At the end of the year, you can pay extra EMIs out of your savings. This extra EMI payment will go towards your Loan Amount and save you on the interest as well as tenure of the loan.

Payment	Tenure	Interest
Current	5 year	300,000
1 Extra EMI/ year	5 year ▶ 0 year	270,000 ▶ 30,000
2 Extra EMI/ year	4 year ▶ 1 year	240,000 ▶ 60,000
3 Extra EMI/ year	4 year ▶ 1 year	230,000 ▶ 70,000

How increasing EMI helps?

As your income increases each year, you can get your EMI increased from the bank. This allows you to allocate more funds towards paying off the loan amount and save you on the interest as well as tenure of the loan.

Payment	Tenure	Interest
Current	5 year	300,000
Increase EMI by 1%	5 year ▶ 0 year	295,000 ▶ 5,000
Increase EMI by 3%	5 year ▶ 0 year	280,000 ▶ 20,000
Increase EMI by 5%	5 year ▶ 0 year	265,000 ▶ 35,000

How Paying Lumpsum Amount helps?

If you receive unexpected income, such as a bonus or tax refund, consider making a lump-sum payment on your loan. This can help reduce the outstanding loan amount and save you on the interest as well as tenure of the loan.

Payment	Tenure	Interest
Current	5 year	300,000
Pay 10% in 2nd year	5 year ▶ 0 year	275,000 ▶ 25,000
Pay 20% in 3rd year	5 year ▶ 0 year	245,000 ▶ 55,000
Pay 30% in 4th year	4 year ▶ 1 year	240,000 ▶ 60,000

How to Reduce Interest/ Tenure?

Making early payments towards Principal amount can reduce your Interest and/ or Tenure.

1. How extra EMI(s) help?

At the end of the year, you can pay extra EMIs out of your savings. This extra EMI payment will go towards your Loan Amount and save you on the interest as well as tenure of the loan.

2. How increasing EMI helps?

3. How Paying Lumpsum Amount helps?