Loan Calculator
Car Loan EMI Calculator
Know the real monthly cost of the car you're eyeing, EMI, total interest, and the payoff schedule in one glance.
What is Car Loan EMI?
A car loan EMI calculator shows what you'll actually pay every month for your new wheels, and how much of it is interest vs principal.
Formula
EMI = [P × R × (1+R)N] / [(1+R)N − 1]
Worked example
₹
An ₹8,00,000 car loan at 9.5% p.a. for 5 years works out to an EMI of ~₹16,802 and total interest of ~₹2.08 lakh.
Frequently asked questions
What rate do banks charge for car loans?
Typically 8.75%–11% p.a. depending on the car (new vs used), your credit score, and the lender.
Is a longer tenure worth it for a car loan?
No, cars depreciate fast. A 3–5 year tenure balances manageable EMI with minimal interest.
Does down payment reduce EMI?
Yes. Every ₹1 lakh of down payment reduces your EMI by roughly ₹2,100 over 5 years at 9.5%.