Car Loan EMI Calculator
కార్ లోన్ ఈఎంఐ కాలిక్యులేటర్
Car loan EMI calculator: the monthly EMI, total interest and repayment schedule of a new or used car loan.
కొత్త లేదా పాత కారు లోన్ ఈఎంఐ, మొత్తం వడ్డీ, చెల్లింపు పట్టిక.
Your result
Monthly EMI నెలవారీ వాయిదా
16.61 thousand rupees a month
- Principalఅసలు
- ₹8,00,000
- Total interestమొత్తం వడ్డీ
- ₹1,96,401
- Total paymentమొత్తం చెల్లింపు
- ₹9,96,401
Year by year ఏడాదివారీగా
- Principal
- Interest
Use the left and right arrow keys to read each year; the table below lists every value.
Show the year-by-year table
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹1,32,664 | ₹66,616 | ₹6,67,336 |
| 2 | ₹1,45,109 | ₹54,171 | ₹5,22,227 |
| 3 | ₹1,58,721 | ₹40,559 | ₹3,63,506 |
| 4 | ₹1,73,610 | ₹25,670 | ₹1,89,896 |
| 5 | ₹1,89,896 | ₹9,384 | ₹0 |
Last updated : an example interest rate of 9% a year. These are examples: check your lender's current rate and charges before you borrow.
How is the car loan EMI calculated?
From three figures: the loan amount, the yearly interest rate and the tenure. Lenders charge interest each month on the balance still owed (reducing balance), so the EMI stays the same while the interest in it falls. With a loan amount P, a monthly rate r (yearly rate ÷ 12 ÷ 100) and n monthly instalments:
EMI = P × r × (1 + r) n ÷ ((1 + r) n − 1)
Example: a car loan of ₹8,00,000 at 9% for 5 years is an EMI of ₹16,607. You pay ₹1,96,401 in interest, ₹9,96,401 in all. The rate is an example: yours depends on the lender and your credit score.
Car loan EMI for ₹5 lakh, ₹8 lakh and ₹10 lakh
At 9% a year, the EMI on a car loan of ₹8 lakh over 5 years is ₹16,607; on ₹10 lakh, ₹20,758. EMIs at that example rate (type yours above):
| Loan | 3 years | 5 years | 7 years |
|---|---|---|---|
| ₹5 lakh | ₹15,900 | ₹10,379 | ₹8,045 |
| ₹8 lakh | ₹25,440 | ₹16,607 | ₹12,871 |
| ₹10 lakh | ₹31,800 | ₹20,758 | ₹16,089 |
| ₹12 lakh | ₹38,160 | ₹24,910 | ₹19,307 |
| ₹15 lakh | ₹47,700 | ₹31,138 | ₹24,134 |
Good to know
- Banks usually lend 80% to 90% of the on-road price for up to 7 years; the rest is your down payment.
- A car loses value fast, so a shorter tenure keeps you from owing more than the car is worth. Insurance, registration and the processing fee are extra.
- Dealer finance is often quoted at a "flat" rate, which costs far more than the same figure on reducing balance: check it with the flat interest rate calculator.
Questions
How do I work out a car loan EMI with a down payment?
Take the down payment off the on-road price and type the rest as the loan amount: a car costing ₹12.5 lakh on the road with 20% (₹2.5 lakh) down is a loan of ₹10 lakh, an EMI of ₹20,758 over 5 years at 9%.
Is the EMI worked out differently for a used car?
No, the formula is the same. Lenders usually charge a used car loan a higher rate and lend it for fewer years, so type the rate and tenure they quote.
Does a longer tenure save money?
No. A longer tenure lowers the EMI but raises the total interest. On the example, 7 years instead of 5 brings the EMI down to ₹12,871 but adds ₹84,785 of interest. Pick the shortest tenure whose EMI you can pay comfortably.
Can I pay the loan off early?
On floating-rate loans to individuals, RBI does not allow prepayment charges in most cases (some business loans are exceptions). Fixed-rate loans may carry them: check your loan agreement. The prepayment calculator shows the interest a part payment saves on any loan repaid in EMIs.
What next? తర్వాత ఏం చూడాలి
See all calculators →Results are estimates for planning, at the rates you enter. Check exact figures with your bank, fund house or tax adviser before you decide.
