Equitas SFB Used Car Loan EMI Calculator
Calculate monthly instalments on second-hand vehicle financing through Equitas Small Finance Bank.
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Official Rate Formula & Benchmark:
Equitas Used Car Loans finance pre-owned passenger and commercial vehicles starting at 11.50% p.a. up to 80% of appraised valuation.
Current official starting rate: 11.50% p.a. (Range: 11.50% – 15.50% p.a.).
Equitas SFB Used Car Loan EMI Calculator
Interactive calculation engine using official Equitas SFB rates
Official Equitas SFB Rate (11.50%)
₹5,00,000
₹1.00 L₹2.00 Cr
%
5.00%Published range: 11.5% - 15.5%20.00%
4 Years(48 mo)
1 Yr30 Yrs
Monthly EMI
₹13,045
For 4 years at 11.50% p.a. reducing balance
Principal Loan Amount₹5,00,000
Total Interest Payable₹1,26,130
Total Amount Payable₹6,26,130
Principal (79.9%)Interest (20.1%)
Calculated according to standard Indian banking methodology (Quarterly compounding for deposits, monthly reducing balance for loans).
Yearly Repayment Schedule
| Year | Principal Paid | Interest Paid | Total Paid | Balance |
|---|---|---|---|---|
| Year 1 | ₹1,04,431 | ₹52,109 | ₹1,56,540 | ₹3,95,569 |
| Year 2 | ₹1,17,094 | ₹39,446 | ₹1,56,540 | ₹2,78,476 |
| Year 3 | ₹1,31,293 | ₹25,247 | ₹1,56,540 | ₹1,47,183 |
| Year 4 | ₹1,47,183 | ₹9,327 | ₹1,56,510 | ₹0 |
Rate Verification & Official Notice
Verified Official Published RateLast verified:
Rate Methodology →Headline / Starting Rate
11.50% p.a.
Effective Rate Range
11.50% – 15.50% p.a.
fixed RateBenchmark Index
RBI Repo Linked / Card Rate
Applicable Conditions & Eligibility Factors:
- Financing up to 80% of vehicle valuation
- Fast local valuation
Source: Equitas Used Car Loan Scheme
Rates subject to borrower risk-grade & RBI regulatory changes.How It Works
- 1Finances pre-owned vehicles up to 80% of valuation.
- 2Tenures up to 48 months with quick local vehicle assessment.
Key Factors Influencing Your Rate
- •Vehicle age and operational fitness
- •Customer credit profile
Worked Numerical Example: Equitas SFB Used Car Loan EMI Calculator
Principal₹5,00,000
Rate Applied11.5% p.a.
Tenure4 Years
Monthly EMI₹13,045
For a ₹5,00,000 loan at 11.50% p.a. for 4 years (48 months), your monthly EMI is ₹13,045, with total interest of ₹1,26,130.
Frequently Asked Questions: Equitas SFB Used Car Loan EMI Calculator
- Starting rate?
- 11.50% p.a.
- Max tenure?
- Up to 4 years.