| EMI Calculation made easy
We, at ICICI Bank Commercial Vehicle Loans, strive to assist you in every possible way at every step. We have provided some useful tools below that will help you in deciding your Commercial Vehicle Loan.
Fixed Interest Rate Loan EMI Calculator
Under the Fixed Interest Rate option for Commercial Vehicle Loan, the interest rate for your loan will remain constant throughout the tenure of the loan. The contracted installment amount and interest rate will be applicable for the full tenure of the loan.
Please click on the link given above to calculate the EMI.
Floating Interest Rate Loan EMI Calculator Under the Floating Interest Rate option for Commercial Vehicle Loan, the interest rate for your loan will change according to changes in Floating Reference Rate (FRR) of ICICI Bank. The tenure of the loan taken by the customer will increase or decrease according to changes in the FRR.
Please click on the link given above to calculate the EMI.
Note :
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The interest on the loan amount is calculated on monthly reducing basis in the calculator. Please input the effective interest rate to the customer on the loan for calculating the EMI or revised tenure.
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In Floating Interest Rate Calculator, the user has to input the month of revision of interest rate and the new interest rate to know the effect on total tenure of the loan taken.
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There is a User Manual made available with Floating Interest Rate Calculator, which will guide you in using the calculator. You can access the manual once you have opened the calculator.
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