Finance

Car Loan EMI Calculator

Monthly EMI for your new or used car loan

Loan Amount

₹

8.00 L

Interest Rate (per annum)

Tenure

yrs

Monthly EMI

₹13,075

For 7 years at 9.5% p.a.

Total Interest

₹2,98,316

Total Payment

₹10,98,316

Payment Breakup

Principal

8.00 L

Interest

2.98 L

Formula

EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ − 1) where P = principal, r = monthly interest rate, n = months

Example: For ₹25,00,000 at 9% p.a. for 20 years, EMI ≈ ₹22,493.

How to use

Enter the loan amount you wish to borrow.
Set the annual interest rate offered by your bank.
Choose the tenure in years.
See your monthly EMI and total interest update instantly.

Benefits

Plan your monthly budget around predictable EMIs.
Compare loan offers from different banks easily.
See how tenure affects total interest paid.
Save tax by knowing your interest component (home loans).

Year-wise Repayment Schedule

Frequently Asked Questions

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EMI shown is indicative. Actual EMI may differ based on processing fees, GST, insurance and your bank's rate-reset policy.

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Year-wise Repayment Schedule

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Are EMI calculations the same for all banks?

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Car Loan EMI Calculator

Payment Breakup

Formula

How to use

Benefits

Year-wise Repayment Schedule

Frequently Asked Questions

What is an EMI?

How does tenure affect EMI?

Are EMI calculations the same for all banks?

Can I prepay my loan?

Related Calculators