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Car loan EMI calculator
See your monthly EMI, the interest you will pay and what the car really costs. Start from any car in our catalogue or type in your quote.
Use a car’s price from our catalogue (optional)
Uses your header setting: on-road or ex-showroom price and registration state. Banks usually lend against the on-road price.
₹10 L · Use the on-road price from your quote.
20% of the price · Loan amount ₹8,00,000
Use the rate on your loan offer. 9% is an example, not a lender quote.
More options: flat-rate quote, loan charges, affordability
Processing fee including GST, documentation and stamp duty from your offer. Counted in the total cost and effective rate.
Used only for the 20/4/10 check. Not added to the page address or share links.
Your monthly EMI
₹16,607
for 60 months at 9%
- Down payment
- ₹2,00,000
- Loan amount
- ₹8,00,000
- Total interest
- ₹1,96,401
- Total cost of the car
- ₹11,96,401
Interest adds 19.64% to the car price.
Can you comfortably afford it?
The 20/4/10 rule of thumb is a cautious guide, not a lender requirement.
- At least 20% downYou are putting 20% down.
- Loan of 4 years or lessYour tenure is 5 years.
Add your monthly take-home income under “More options” to check the EMI share.
Shorter or longer loan?
Same loan and rate. A longer loan lowers the EMI but you pay more interest.
| Tenure | EMI | Total interest |
|---|---|---|
| 3 years | ₹25,440 | ₹1,15,832 |
| 4 years | ₹19,908 | ₹1,55,586 |
| 5 years (yours) | ₹16,607 | ₹1,96,401 |
| 6 years | ₹14,420 | ₹2,38,271 |
| 7 years | ₹12,871 | ₹2,81,186 |
Year-by-year repayment
| 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 |
How is the EMI calculated?
Banks quote car loans on a reducing balance: each month’s interest is charged only on the amount you still owe. EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1), where P is the loan amount, r is the annual rate ÷ 12 ÷ 100 and n is the number of months. The loan amount is the car price minus your down payment.
Example: a ₹10,00,000 car with ₹2,00,000 down leaves an ₹8,00,000 loan. At 9% a year for 5 years, the EMI is about ₹16,607 and total interest is about ₹1,96,401.
Why a “flat rate” costs more
Some dealer finance offers quote a flat rate, which charges interest on the original loan for the full tenure even as you repay it. Over 5 years, a 7% flat rate is about 12.5% on a reducing balance. Tick “My dealer quoted a flat rate” to convert a quote before comparing it with a bank offer.
What the total cost includes
Total cost = down payment + all EMIs + any one-time loan charges you enter, such as the processing fee with GST, documentation and stamp duty. It excludes insurance renewals, fuel, servicing, prepayment or foreclosure charges and any discounts. Your lender’s sanction letter sets the final rate, EMI and charges.
Not sure of the on-road price yet? Calculate your on-road budget · Review a dealer quote · How we estimate on-road prices