Car Loan EMI Calculator
Calculate your car loan EMI and total interest. Enter the loan amount, interest rate and tenure to see your monthly payment and amortisation.
Monthly EMI
₹16,801
Total Interest
₹2.08 L
Total Payment
₹10.08 L
Principal + interest
Principal vs Interest
Amortisation Schedule
EMI is calculated on a reducing-balance basis. Actual EMI may vary with processing fees, insurance and the lender's exact compounding method.
What is a car loan EMI?
A car loan EMI is the fixed monthly amount you pay your bank toward your car loan, covering interest plus principal repayment. Car loans in India are short-tenure compared to home loans - usually 3 to 7 years - and at slightly higher interest rates of around 9-11% in 2026. Used-car loans run higher (often 12-15%). A short tenure makes the monthly EMI heavier but total interest much lower than a long home-loan-like tenure. This calculator helps you choose the right balance.
How to use the Car Loan EMI Calculator
- Enter the car loan amount. Loan amount, usually 80-90% of the on-road price after your down payment.
- Enter the interest rate. Typical new-car rate is 9-11%; used-car rates run higher.
- Set the tenure in years. 3-7 years is the common range for new cars.
- Review EMI and interest. See your monthly EMI and the total interest you'll pay over the loan.
- Adjust down payment. Try a bigger down payment to see how it reduces both EMI and total interest.
Smart car-loan habits
- Down payment more than 20%. The smaller the loan, the less you pay in interest.
- Tenure 5 years or less. Cars depreciate fast; long tenures mean owing more than the car is worth.
- Skip the dealer's loan partner. Compare with your own bank - they often offer 0.5-1% lower rates.
- Watch processing fees. They add 0.5-2% to the effective cost.
- Prepay if possible. Most car loans allow part-prepayment with no penalty.