Loan EMI
Car Loan EMI Calculator
Estimate your car loan EMI based on loan amount, interest rate, and repayment tenure.
Formula
EMI = P × [r(1+r)^n] / [(1+r)^n - 1]
Principal, Rate %, Tenure (months)
Results
Enter values above to see results
EMI = P × [r(1+r)^n] / [(1+r)^n - 1]
Car loan EMIs work on the reducing balance method. The loan amount is spread across your tenure with interest calculated on the remaining principal each month. Processing fees and insurance costs are often added to the total loan amount.
A car loan of ₹12,00,000 at 9% p.a. for 5 years
Input Values
Calculation
Applying the formula with the input values above:
Results
Monthly EMI
₹24,988.00
Total Payment
₹14,99,280.00
Total Interest
₹2,99,280.00
- 1Enter the on-road price of the car minus any down payment you are making.
- 2Input the interest rate (typically 8-12% p.a. for new cars, 10-14% for used cars).
- 3Select the loan tenure (up to 84 months for new cars, 60 months for used cars).
- 4Consider opting for a higher down payment (20-30%) to reduce EMI.
- 5Check if dealer finance offers are better than direct bank rates.
Loan EMI
Education Loan Calculator
Calculate EMIs and total cost of education loans for undergraduate or postgraduate studies.
Loan EMI
EMI Calculator
Calculate your monthly EMI for any loan type — home, personal, car, or education.
Loan EMI
Home Loan Balance Transfer Calculator
Compare your current home loan interest cost with offers from other lenders for transfer.
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