Loading video… Unable to load video. Please try again. Retry Changing the bank account used for car loan Equated Monthly Instalments (EMIs) is a common request when a borrower switches jobs, closes a salary account, or prefers to manage repayments from a different bank. The process varies by lender, but most banks and non-banking financial … Read more
Many borrowers in India need to change their car loan EMI due date when their salary credit date shifts or monthly expenses change. While most banks and non-banking financial companies allow this, the process, fees, and eligibility depend entirely on the lender. This article explains what you need to know before requesting a change. Can … Read more
Missing a car loan EMI can add unexpected costs to your monthly statement. Understanding where to look and what charges may apply helps you spot errors quickly and take corrective action before the balance grows. What Late Payment Charges May Appear Most Indian lenders levy a late payment fee when an EMI is not cleared … Read more
Loading video… Unable to load video. Please try again. Retry Bouncing a car loan Equated Monthly Instalment (EMI) can be stressful, especially when your bank account shows enough balance. If your EMI payment failed despite sufficient funds, the issue usually lies in payment setup, bank processing, or lender requirements rather than a lack of money. … Read more
Loading video… Unable to load video. Please try again. Retry Missing a car loan Equated Monthly Instalment (EMI) can trigger late fees, affect your credit score, and in serious cases lead to vehicle repossession. Acting quickly can help you limit additional costs and protect your financial standing. The steps below apply generally to car loans … Read more
Loading video… Unable to load video. Please try again. Retry Buying a car on finance means your total spend is more than the showroom price. Interest, insurance, registration, and processing charges can add a significant amount over the loan term. Understanding how to calculate the full cost before signing the agreement helps you compare loan … Read more
Loading video… Unable to load video. Please try again. Retry Many Indian borrowers are surprised when they check their car loan statement after a year of EMIs and see that the principal outstanding has reduced only slightly. This happens because of how reducing-balance interest works during the early part of a car loan tenure. Why … Read more
Loading video… Unable to load video. Please try again. Retry A car loan amortisation schedule is a repayment table that shows exactly how each equated monthly instalment (EMI) is split between the principal and interest over the entire tenure. Borrowers in India often review this table to track outstanding dues, plan prepayments, and understand the … Read more
Loading video… Unable to load video. Please try again. Retry Goods and Services Tax, or GST, is an indirect tax levied on the supply of goods and services in India. While GST does not apply to the repayment of the principal car loan amount or the interest charged on the loan, it does apply to … Read more
Loading video… Unable to load video. Please try again. Retry Broken-period interest on a car loan refers to the interest charged for the partial period between the date of loan disbursement and the date your first equated monthly instalment falls due. Because most car loans in India start EMIs on a fixed date each month, … Read more