Car Loan EMI Calculator
Work out your car loan EMI, total interest and repayment schedule for any on-road price, down payment, rate and tenure.
Monthly EMI
₹16,801
over 60 months at 9.5% p.a.
Principal amount
₹8,00,000
Total interest
₹2,08,089
Total repayment
₹10,08,089
Interest as % of loan
26%
- Principal
- Total Interest
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Principal vs interest over time
Each year, the interest portion of your EMIs falls while the principal portion rises.
- Interest
- Principal
Amortization schedule
| Year | Principal Paid | Interest Paid | Balance |
|---|---|---|---|
| 1 | ₹1,31,234 | ₹70,383 | ₹6,68,766 |
| 2 | ₹1,44,259 | ₹57,359 | ₹5,24,506 |
| 3 | ₹1,58,576 | ₹43,041 | ₹3,65,930 |
| 4 | ₹1,74,315 | ₹27,303 | ₹1,91,615 |
| 5 | ₹1,91,615 | ₹10,003 | ₹0 |
Example calculation
For a ₹8,00,000 loan at 9.5% over 5 years, the EMI works out to ₹16,801. Over the full term you repay ₹10,08,089, of which ₹2,08,089 is interest.
How car loan EMIs work
A car loan is secured against the vehicle, so rates are usually lower than personal loans but higher than home loans. Tenures are typically 3–7 years. Enter the amount you are actually borrowing — the on-road price minus your down payment.
Why the down payment matters
Every rupee you pay upfront is a rupee that never accrues interest. A larger down payment lowers both the EMI and the total interest. Try reducing the loan amount here to see the effect.
EMI formula
EMI = P × r × (1 + r)n / [ (1 + r)n − 1 ] with r the monthly rate and n the tenure in months.
Assumptions & Limitations
- •Reducing-balance interest at a constant rate.
- •Processing fees, insurance and registration are not included in the loan amount unless you add them.
- •Depreciation of the vehicle is not modelled.
Frequently asked questions
Methodology last reviewed: 1 June 2026