Loans / Car loan EMI calculator
Choose your car loan
with confidence.
See the monthly payment, interest cost, and repayment schedule for a new or used car loan before you choose your lender.
Your estimate
Monthly EMI
Over the life of your loan
Annual payment breakdown
| Year | Principal paid | Interest paid | Balance |
|---|---|---|---|
| 1 | ₹1,31,948 | ₹68,499 | ₹6,68,052 |
| 2 | ₹1,44,684 | ₹55,763 | ₹5,23,368 |
| 3 | ₹1,58,650 | ₹41,797 | ₹3,64,718 |
| 4 | ₹1,73,963 | ₹26,484 | ₹1,90,755 |
| 5 | ₹1,90,755 | ₹9,692 | ₹0 |
Understand the result
How it works
The calculator converts your annual interest rate into a monthly rate and applies the standard EMI formula to your principal and number of monthly payments. Every payment contains both interest and principal, and the balance reduces over time.
Worked example: For an ₹8 lakh car loan at 9.25% interest for 5 years, the estimated EMI is about ₹16,695 per month, before lender fees and insurance.
Good to know
Frequently asked questions
How is car loan EMI calculated?+
Car EMI is calculated from the loan principal, monthly interest rate, and number of monthly payments using the standard EMI formula.
What car loan tenure should I choose?+
A shorter tenure usually costs less interest but has a higher EMI. Compare the monthly payment with your budget and total repayment.
Can I use this for a used car?+
Yes. Enter the amount, rate, and tenure offered for the used-car loan. Used-car rates and maximum tenures may differ from new-car loans.
Are down payment and insurance included?+
No. This estimate covers the loan principal and interest. Include lender fees, insurance, and down payment separately when planning your purchase.
Important: This calculator provides an estimate for planning and education. Actual rates, processing fees, insurance, prepayment charges, and repayment terms vary by lender. Confirm details with your lender.