Loans
Car Loan EMI Calculator
Computes the monthly EMI for a car loan given the on-road price financed, rate, and tenure.
Your details
₹
%
yrs
Monthly EMI
₹16,801
Total interest
₹2,08,089
Total payment
₹10,08,089
Your EMI will be ₹16,801 per month. Over 5 years you'll pay ₹2,08,089 in total interest.
PrincipalInterest
How this is calculated
Standard EMI formula: EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P = principal, r = monthly interest rate, n = tenure in months.
Frequently asked questions
How much down payment should I make on a car?
A larger down payment lowers your EMI and total interest — many buyers target at least 15–20% of the on-road price.
New car vs used car loan rates — what's different?
Used car loans typically carry a higher interest rate and shorter maximum tenure than new car loans.
Does the car itself serve as collateral?
Yes — car loans are secured against the vehicle, which is part of why rates are lower than personal loans.