Loans/Staff Vehicle Loan Calculator
Staff Vehicle Loan Calculator
Car or two-wheeler, new or old — PNB's staff vehicle loan uses the same phased repayment structure as the Home Loan, just with shorter, vehicle-specific timeframes.
Your loan
Rate: 5.5% p.a. simple, flat — same for all vehicle types
No moratorium period applies to vehicle loans — repayment begins immediately, unlike the Home Loan’s construction/purchase grace periods.
Total repayment
₹13,00,208
What this calculates
Repayment for a PNB staff vehicle loan — same phased structure as the Home Loan (principal first, then a separate interest-repayment phase), but scaled to vehicle timeframes: 180 months for a car (130 principal + 50 interest), 84 months for a two-wheeler (69 principal + 15 interest).
Formula
Phase 1 installment = Principal ÷ Principal Months. Total Interest = Principal × (5.50% ÷ 1200) × (Principal Months + 1) ÷ 2. Phase 2 installment = Total Interest ÷ Interest Months.
Worked example
A ₹3,00,000 two-wheeler loan: Phase 1 = ₹4,348/month for 69 months. Total interest = ₹48,125. Phase 2 = ₹3,208/month for 15 months. Total repayment = ₹3,48,125.
FAQs
What are the maximum loan limits?
By cadre, non-EV vehicles (EV limits are higher — see references):
- Officers: Two-wheeler ₹3.5L, Car ₹18L
- Clerks: Two-wheeler ₹2L, Car ₹12L
- Sub Staff: Two-wheeler ₹1.75L, Car ₹6L
Do old cars use the same repayment split?
Yes — same 130/50 month proportional split as a new car, or until vehicle registration expiry, whichever is earlier.
What is the perquisite tax section showing me?
Your concessional interest rate from PNB is itself a taxable benefit under Income Tax Rule 3(7)(i) — the gap between SBI’s benchmark auto-loan rate and what PNB actually charges you gets added to your taxable salary. This section shows your EMI as PNB bills it, separately from the extra tax that concession creates.
References
PNB’s current Staff Vehicle Loan scheme — rate, repayment terms, and current limits including EV tiers.