Car Loan EMI Calculator
Plan your car purchase with accurate EMI, total interest and a full repayment schedule.
Car loans in India are offered by banks and NBFCs at competitive rates starting from 8.8% to 14% depending on your credit score. Most loans cover 85–90% of the car’s on‑road price and have tenures from 1 to 7 years. The EMI depends heavily on the interest rate and tenure; a shorter tenure means higher EMIs but lower total interest. Use this calculator to find the right balance for your monthly budget before visiting a dealer.
Monthly EMI
Total Interest
Total Payment
Also try our generic EMI calculator for other loan types.
How to Use Car Loan EMI Calculator
- Enter the loan amount (default ₹8,00,000), interest rate (default 9.5%), and tenure in years (default 5).
- Click Calculate EMI to see the monthly EMI, total interest cost, and total repayment amount.
- Observe the three stat cards for a quick summary.
- Click Show Year‑wise Table to examine how the principal and interest portions change each year.
Benefits of Car Loan EMI Calculator
- Pre‑set realistic Indian car loan defaults so you get instant results that match current market conditions.
- Year‑wise table helps you decide between shorter and longer tenures by visualising the interest impact.
- No data entry errors: the tool validates inputs and recalculates automatically when you adjust any field.
- Completely browser‑based; you can compare multiple loan scenarios without leaving a digital footprint.
Frequently Asked Questions
What is a typical car loan interest rate in India?
Car loan rates range from about 8.8% to 14% depending on your credit score and the lender. The default 9.5% represents a competitive rate for a good credit profile.
Can I use this calculator for a used car loan?
Yes, used car loans often have slightly higher interest rates. Adjust the rate input accordingly; the EMI formula is identical for new and used car financing.
Does the calculator include the down payment?
No, the loan amount entered should be the amount you plan to finance after the down payment. Subtract your down payment from the car’s on‑road price first.
Is Car Loan EMI Calculator free and private?
Yes — it is 100% free, needs no sign-up, and everything runs in your browser; your data never leaves your device.