Car Loan EMI
Calculate your monthly car loan EMI, total interest and total cost.
Monthly EMI
₹ 10,624
A car loan EMI calculator tells you exactly what your monthly outgo will be before you sign at the dealership. Enter the on-road loan amount, the interest rate your bank is offering, and the tenure — and see your EMI, total interest, and total cost instantly.
How car loan EMI is calculated
EMIs use the standard reducing-balance formula: EMI = P × r × (1+r)n / ((1+r)n − 1), where P is the loan amount, r is the monthly interest rate, and n is the number of months. Most Indian car loans run 7–9% p.a. for 3–7 years.
💡 Tip
A larger down payment lowers your loan amount and total interest. A shorter tenure raises the EMI but cuts total interest sharply — use the sliders to find your comfort zone.
Frequently Asked Questions
What is a good interest rate for a car loan in India?
Car loan rates typically range from 8% to 11% p.a. depending on the lender, your credit score and the loan tenure. A score above 750 usually fetches the best rates.
Can I prepay my car loan?
Yes. Most lenders allow part- or full-prepayment, though some charge a small foreclosure fee on fixed-rate loans. Prepaying early saves the most interest.
Does the EMI include insurance and processing fees?
No. This calculator estimates the loan EMI only. Insurance, processing fees and road tax are usually paid separately or added to the on-road price.
