About this calculator
Enter the loan amount (on-road price minus down payment), rate and tenure. The calculator uses the reducing-balance method banks use and adds the processing fee to show the effective cost.
Car Loan EMI Calculator
Formula: EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P = loan, r = annual rate ÷ 12 ÷ 100 and n = number of months.
EMI per ₹1 lakh
| Rate | 3 yrs | 4 yrs | 5 yrs | 6 yrs | 7 yrs |
|---|---|---|---|---|---|
| 8.00% | ₹3,134 | ₹2,441 | ₹2,028 | ₹1,753 | ₹1,559 |
| 8.50% | ₹3,157 | ₹2,465 | ₹2,052 | ₹1,778 | ₹1,584 |
| 9.00% | ₹3,180 | ₹2,489 | ₹2,076 | ₹1,803 | ₹1,609 |
| 10.00% | ₹3,227 | ₹2,536 | ₹2,125 | ₹1,853 | ₹1,660 |
| 11.00% | ₹3,274 | ₹2,585 | ₹2,174 | ₹1,903 | ₹1,712 |
EMI for every ₹1 lakh borrowed. Multiply by your loan amount in lakh.
EMI for common loan amounts
| Loan amount | EMI @ 8.50% | EMI @ 9.50% | EMI @ 11.00% |
|---|---|---|---|
| ₹5,00,000 | ₹10,258 interest ₹1,15,496 | ₹10,501 interest ₹1,30,056 | ₹10,871 interest ₹1,52,273 |
| ₹8,00,000 | ₹16,413 interest ₹1,84,794 | ₹16,801 interest ₹2,08,089 | ₹17,394 interest ₹2,43,636 |
| ₹12,00,000 | ₹24,620 interest ₹2,77,190 | ₹25,202 interest ₹3,12,134 | ₹26,091 interest ₹3,65,454 |
Tenure 5 years, reducing-balance EMI.
Tenure vs total interest
| Tenure | EMI | Total interest | Total repaid |
|---|---|---|---|
| 3 years | ₹25,440 | ₹1,15,832 | ₹9,15,832 |
| 4 years | ₹19,908 | ₹1,55,586 | ₹9,55,586 |
| 5 years | ₹16,607 | ₹1,96,401 | ₹9,96,401 |
| 6 years | ₹14,420 | ₹2,38,271 | ₹10,38,271 |
| 7 years | ₹12,871 | ₹2,81,186 | ₹10,81,186 |
₹8,00,000 at 9.00%.
Frequently asked questions
Does a longer tenure save money?
No — it lowers the EMI but raises total interest. Choose the shortest tenure whose EMI fits comfortably.
Why is my bank’s EMI slightly different?
Banks may count interest from the disbursal date, charge broken-period interest for the first month or round differently.
For information and comparison only. Loan terms, rates and rules change — confirm with the lender and read the Key Facts Statement before borrowing.