Free Tool · Car Loan Calculator
Loan details
Monthly instalment (EMI)
for 60 months at 9.5% p.a.
Principal vs. interest
Amortization details
Tap a year to see the month-by-month split
Figures are indicative and depend on the lender's exact terms. EMI = P·r·(1+r)ⁿ ÷ ((1+r)ⁿ−1)
EMI is calculated using the formula EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the tenure in months. This calculator applies that formula automatically as you adjust the sliders above.
Car loans in India typically run from 1 to 7 years. A shorter tenure means a higher EMI but less total interest paid, while a longer tenure lowers the EMI at the cost of more interest over time.
Most lenders finance 80-90% of the on-road price of the vehicle, so you'll typically need to arrange the remaining 10-20% yourself as a down payment.
Most lenders allow part-prepayment or full foreclosure, often after a minimum lock-in period, and may charge a prepayment fee on the outstanding balance. Always confirm the exact terms with your lender before planning a prepayment.