Vehicle Loan EMI Calculator ScriptVehicle Loan EMI Calculator Script
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You can use this calculator to calculate and plan your EMI and car loan, home loan, personal loan, etc. The EMI value for your loan largely depends on the interest rate and tenure of the loan. However, how you have to pay your EMIs also has some effect on the EMI amount. Some financial institutions require you to make the EMI payment while disbursing the loan, but some financial institutions allow you to start the EMI from the next month. However, your interest calculations start from your paychecks.
Please note that the actual EMI and loan plan may vary depending on the additional features offered by your bank/financial institution. For example, some banks allow payment in advance. Some banks pay money into a loan account, but only charge interest when you withdraw money from the account. You can check the most suitable loan for you with the bank. EMI is assumed to start at the beginning of the period. So if you select EMI starts from “On loan approval”, it means you have to pay the first EMI at the time of loan approval. If your finance company follows a month-end cycle where you have to make your first payment next month, choose accordingly.
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If you have any doubts, Please let me know