Calculate the monthly EMI and total interest on a car loan for the amount, rate and term you choose.
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Calculated from your inputs
Monthly EMI
Total interest
Total repayment
How this is calculated
Fixed monthly EMI at the entered annual nominal rate. Excludes down payment, fees, insurance and balloon payments.
Defaults are editable examples, not current provider quotes. Results are rounded for display. These are scenarios from your inputs, not live market data or investment advice.
About the Car Loan EMI calculator
A car loan finances part of a vehicle’s on-road price, usually over one to seven years. The car itself is the security for the loan.
How the Car Loan EMI calculator works
EMI = P × i × (1 + i)^n ÷ [(1 + i)^n − 1]
P
Loan amount
i
Annual interest rate ÷ 12 ÷ 100
n
Number of monthly instalments
Each EMI pays that month’s interest on the outstanding balance and repays part of the principal. Early EMIs are mostly interest; later ones are mostly principal.
Enter the loan amount after your down payment, not the car’s price.
Worked example
Example inputs
Loan amount
₹8,00,000
Annual interest rate
9%
Time period
5 years
Calculated result
Monthly EMI
₹16,606.68
Total interest
₹1,96,401.05
Total repayment
₹9,96,401.05
Why use a Car Loan EMI calculator?
Find an EMI that fits your budget before you visit a dealer.
See how a larger down payment changes the EMI.
Compare dealer finance with a bank loan.
Car Loan EMI calculator FAQs
Is the rate quoted flat or reducing?
Banks usually quote a reducing-balance rate. Some dealer schemes quote a flat rate, which costs more; convert it with the flat vs reducing rate calculator.
How much down payment do I need?
Lenders finance a share of the on-road or ex-showroom price and you pay the rest. The share varies by lender and model.
Does the EMI include insurance?
No. Motor insurance, registration and fees are paid separately.
Can I close a car loan early?
Usually yes; fixed-rate loans may carry a foreclosure charge. Check your agreement.