On the occasion of Dussehra and Diwali, many people buy two-wheelers. Most of the people affected are those who buy the car by taking out a loan. In such a situation, suppose you take a car loan of Rs 1 lakh for a car from a bank or finance company. So what will be his monthly EMI based on different interest rates and different tenures (duration). We explain all its mathematics to you here. Here we explain the calculation of the interest rate ranging from 8% to 10% on a loan of Rs 1 lakh.
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EMI Math on Rs 1 lakh car loan |
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| interest rate | Period | Monthly EMI |
| 8.00% | 3 years | ₹3,134 |
| 8.00% | 4 years | ₹2,441 |
| 8.00% | 5 years | ₹2,028 |
| 8.00% | 6 years | ₹1,753 |
| 8.00% | 7 years | ₹1,559 |
If a loan of Rs 1 lakh is taken at an interest rate of 8%, then its EMI for 3 years will be Rs 3,134, its EMI for 4 years will be Rs 2,441, its EMI for 5 years will be Rs 2,028, his EMI for 5 years will be Rs 2,028. for 6 years, his EMI will be Rs 1,753 and for 7 years, it will be Rs 1,559.
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EMI Math on Rs 1 lakh car loan |
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| interest rate | Period | Monthly EMI |
| 8.50% | 3 years | ₹3,157 |
| 8.50% | 4 years | ₹2,465 |
| 8.50% | 5 years | ₹2,052 |
| 8.50% | 6 years | ₹1,778 |
| 8.50% | 7 years | ₹1,584 |
If you take a loan of Rs 1 lakh at an interest rate of 8.50%, then its EMI for 3 years will be Rs 3,157, its EMI for 4 years will be Rs 2,465, its EMI for 5 years will be of Rs 2,052, his EMI for 6 years will be his EMI for 7 years will be Rs 1,778 and Rs 1,584.
| EMI Math on Rs 1 lakh car loan | ||
| interest rate | Period | Monthly EMI |
| 9.00% | 3 years | ₹3,180 |
| 9.00% | 4 years | ₹2,489 |
| 9.00% | 5 years | ₹2,076 |
| 9.00% | 6 years | ₹1,803 |
| 9.00% | 7 years | ₹1,609 |
If a loan of Rs 1 lakh is taken at an interest rate of 9%, then its EMI for 3 years will be Rs 3,180, its EMI for 4 years will be Rs 2,489, its EMI for 5 years will be Rs 2,076, his EMI for 5 years will be Rs 2,076. for 6 years will be his EMI for 7 years will be Rs 1,803 and Rs 1,609.
| EMI Math on Rs 1 lakh car loan | ||
| interest rate | Period | Monthly EMI |
| 9.50% | 3 years | ₹3,203 |
| 9.50% | 4 years | ₹2,512 |
| 9.50% | 5 years | ₹2,100 |
| 9.50% | 6 years | ₹1,827 |
| 9.50% | 7 years | ₹1,634 |
If you take a loan of Rs 1 lakh at an interest rate of 9.50%, then its EMI for 3 years will be Rs 3,203, its EMI for 4 years will be Rs 2,512, its EMI for 5 years will be of Rs 2,100, his EMI for 6 years will be his EMI for 7 years will be Rs 1,827 and will be Rs 1,634.
| EMI Math on Rs 1 lakh car loan | ||
| interest rate | Period | Monthly EMI |
| 10.00% | 3 years | ₹3,227 |
| 10.00% | 4 years | ₹2,536 |
| 10.00% | 5 years | ₹2,125 |
| 10.00% | 6 years | ₹1,853 |
| 10.00% | 7 years | ₹1,660 |
If a loan of Rs 1 lakh is taken at an interest rate of 10%, then its EMI for 3 years will be Rs 3,227, its EMI for 4 years will be Rs 2,536, its EMI for 5 years will be Rs 2,125, his EMI for 5 years will be Rs 2,125. for 6 years will be his EMI for 7 years will be Rs 1,853 and Rs 1,660.