Car loan Calculator UAE

Calculate Your Car Loan EMI Online

Car Loan Calculator UAE

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  • EMI Tenure up to 48 Months
  • Lowest Interest Rates

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What is Car Loan EMI Calculator in UAE?

A car loan calculator is an online tool that helps users assess loan monthly instalments. Using this online tool, users can get an estimation of their instalments before actually getting a loan.

Choosing the right loan product is essential to ensure efficient financial management. Several banks have their curated car loan calculators in the UAE to help potential loan seekers calculate their EMIs beforehand and make a well-informed decision.

Let’s understand more about car loan calculators in the UAE along with their benefits, utilisation, and more.

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How to Use Policybazaar.ae’s Car Loan Calculator?

Here is how you can use a car loan calculator on the digital platform of Policybazaar.ae -

  • Click on the ‘Banking Products’ drop-down on our homepage.
  • Under ‘Financial Calculators’, choose ‘Car Loan Calculator’.
  • Enter your car price, down payment, loan tenure, and interest rate in this car loan EMI calculator.
  • On providing the mentioned details, you will immediately get the results.

Note: Besides the instalment amount, you will also get the total amount of interest as well as the total payable amount (principal + interest) on your screen.

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Benefits of Using a Car Loan Calculator in the UAE

As mentioned earlier, the Policybazaar UAE car loan calculator is an effective tool for anyone looking to purchase a vehicle and wanting to comprehend the financial implications of different loan options. Moreover, our calculator will help you make informed decisions about how much you can afford to borrow and how long you should finance the loan.

By using a car loan calculator UAE, you can enjoy a multitude of benefits:

  • Efficient Financial Planning - You can plan your budget in advance with a car loan calculator. With a car loan payment calculator, you can calculate the approximate value of your monthly instalments. This way, you can decide how much amount to borrow and how to pay off the instalments without hampering your regular spending.
  • Accuracy - When calculating car loan instalments manually, there is always a chance of human error. However, online calculators eliminate such issues. As the results are machine-generated, you can get accurate information.
  • Saves Time - Calculating loan instalments without any tool consumes a lot of time and process. Moreover, there’s always a probability of miscalculations. You can easily avoid this problem by using an online car loan calculator. You won’t have to spend any time in calculation as the tool will automatically do the process for you.
  • Instant Results - Besides accuracy and time-saving, another benefit of the automation of car loan EMI calculators in the UAE is their speed of results. As soon as you enter the required values, you get the results displayed on your screen within a second or two.
  • Easy to Access - Online car loan EMI calculators are easily accessible to everyone looking to finance their vehicles — banks don’t charge any fee to use their car loan calculators. Due to the ease of access, you can also use calculators to play around with different details. You can reset the entered values and regenerate results to know how your instalments will look with different interest rates, tenures, and more.

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Frequently Asked Questions

Q1. What are the types of interest rates offered with car loans in the UAE?

Ans: Individuals can opt for either fixed interest rates or floating interest rates.

Q2. What is the minimum age required to opt for a car loan in the Emirates?

Ans: The applicant must be at least 21 years old.

Q3. What details do I need to enter to calculate my monthly instalments of car loan?

Ans: You must provide the car value, interest rate, loan tenure, and down payment amount to determine the monthly instalment of a car loan.

Q4. Does a car loan calculator provide accurate information?

Ans: Yes, car loan calculators generate accurate results. However, the result may be slightly different while calculating due to the difference in the actual interest rate.

Q5. What is the maximum tenure of car loans in the UAE?

Ans: While car loan tenures vary for each bank, the maximum loan tenure offered by banks is less than or equal to 60 months.

Q6. What is the minimum salary required for obtaining a car loan in the UAE?

Ans: The minimum monthly salary required to apply for a car loan is AED 4,000.

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