Car Loan EMI Calculator
Estimate monthly repayments for the car amount you finance, after your down payment.
Results are estimates for illustration only and are not financial, tax or investment advice. Disclaimer
Explore a different amount, period or rate alongside your current plan.
Your inputs
Range ₹1L to ₹50L
Range 7% to 16%
Range 1 year to 7 years
Exact duration: 60 months. Year values are rounded to the nearest whole month.
Advanced
Monthly EMI: ₹16,607. Interest saved: ₹0.
Results
Monthly EMI
₹16,607
Total repayment
₹9,96,401
Loan principal
₹8,00,000
Total interest
₹1,96,401
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Links and reports include your current inputs. Saved calculations stay on this device.
Annual repayments and prepayments
EMI repayment schedule
Open a year to see each EMI, extra payment and balance left. Regular instalments exclude the separate prepayment column.
| Year / month | Regular instalments | EMI principal | Interest | Prepayment | Balance left |
|---|---|---|---|---|---|
| ₹1,99,280 | ₹1,32,664 | ₹66,616 | ₹0 | ₹6,67,336 | |
| Month 1 | ₹16,607 | ₹10,607 | ₹6,000 | ₹0 | ₹7,89,393 |
| Month 2 | ₹16,607 | ₹10,686 | ₹5,920 | ₹0 | ₹7,78,707 |
| Month 3 | ₹16,607 | ₹10,766 | ₹5,840 | ₹0 | ₹7,67,941 |
| Month 4 | ₹16,607 | ₹10,847 | ₹5,760 | ₹0 | ₹7,57,094 |
| Month 5 | ₹16,607 | ₹10,928 | ₹5,678 | ₹0 | ₹7,46,165 |
| Month 6 | ₹16,607 | ₹11,010 | ₹5,596 | ₹0 | ₹7,35,155 |
| Month 7 | ₹16,607 | ₹11,093 | ₹5,514 | ₹0 | ₹7,24,062 |
| Month 8 | ₹16,607 | ₹11,176 | ₹5,430 | ₹0 | ₹7,12,885 |
| Month 9 | ₹16,607 | ₹11,260 | ₹5,347 | ₹0 | ₹7,01,625 |
| Month 10 | ₹16,607 | ₹11,344 | ₹5,262 | ₹0 | ₹6,90,281 |
| Month 11 | ₹16,607 | ₹11,430 | ₹5,177 | ₹0 | ₹6,78,851 |
| Month 12 | ₹16,607 | ₹11,515 | ₹5,091 | ₹0 | ₹6,67,336 |
| ₹1,99,280 | ₹1,45,109 | ₹54,171 | ₹0 | ₹5,22,227 | |
| ₹1,99,280 | ₹1,58,721 | ₹40,559 | ₹0 | ₹3,63,506 | |
| ₹1,99,280 | ₹1,73,610 | ₹25,670 | ₹0 | ₹1,89,896 | |
| ₹1,99,280 | ₹1,89,896 | ₹9,384 | ₹0 | ₹0 | |
| Loan totals | ₹9,96,401 | ₹8,00,000 | ₹1,96,401 | ₹0 | ₹0 |
Amounts are rounded to the nearest rupee for display. Year and loan totals use full-precision values, so adding rounded monthly rows may differ slightly. Regular instalments plus prepayments equal total repayment; EMI principal plus prepayments equal the loan amount.
From on-road price to loan amount
Start with the on-road price, including registration, insurance and other purchase costs, then subtract your down payment and any amount paid upfront. Enter only the amount actually financed as the loan amount.
New and used vehicles can have different rates, tenure limits and fees. Processing charges, running costs and any prepayment penalties are outside this estimate; use the rate and terms from your offer.
How this estimate works
- A reducing-balance loan with a fixed interest rate and monthly repayments is assumed. Monthly interest is the annual rate divided by 12.
- The final instalment adjusts to clear the outstanding balance. Processing fees, insurance, taxes and rate changes are excluded.
- Extra payments are applied after the chosen month’s EMI, with yearly payments after each 12th EMI. Coinciding payments are combined and capped at the remaining balance.
- Reduce tenure keeps the initial EMI. Reduce EMI recalculates it after each extra payment over the original remaining months. Interest and months saved are compared with the same loan without extras.
- The slider ranges and default rate are editable planning assumptions, not live lender quotes or eligibility limits. Use your actual loan offer for a personalised estimate.
Saved calculations
Last 10 per calculator, stored only on this device.
Save a calculation to return to it later.
How the car loan EMI calculator works
A car loan EMI depends on the amount you finance after your down payment, the interest rate and a tenure that is usually one to seven years. A shorter tenure means a higher EMI but much less interest.
Who this helps
For borrowers comparing the financed amount after a down payment, interest rate and repayment period.
Formula
EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)
P is the loan amount, r is the annual interest rate ÷ 12 ÷ 100, and n is the tenure in months.
Worked example
A loan of ₹8 lakh at 9% a year for 5 years has an EMI of ₹16,607. Over the full tenure you repay ₹9,96,401, of which ₹1,96,401 is interest.
Based on this calculator’s default inputs.
Frequently asked questions
What is the EMI on a ₹8 lakh car loan?
At 9% for 5 years, the EMI is about ₹16,607 and the total interest is about ₹1,96,401.
Does a bigger down payment help?
Yes. Every rupee paid upfront is a rupee you do not pay interest on, and it lowers the EMI. Enter only the amount you will actually finance.
Can I prepay a car loan?
Usually, but some lenders charge a foreclosure or part-payment fee, especially on fixed-rate loans. Check your loan agreement; the savings shown here exclude any such charges.
Are car loan rates fixed?
Car loans are commonly fixed-rate, which matches this calculator’s assumption. Confirm the rate type with your lender.
Should insurance and accessories be part of the loan?
Enter only what you will borrow. Insurance, registration or accessories added to the loan increase both the EMI and the interest you pay.
Model and timing
A constant reducing-balance annual rate is divided by 12, with monthly repayments. Extra payments follow the regular EMI. The supported planning range is not a lender’s eligibility promise.
Before using the estimate
Fees, insurance, taxes and rate changes are excluded. Costs financed into the principal do earn modeled interest. Check the agreement for part-payment conditions, charges and rate type.
Try a useful comparison
Compare the same car budget with different down payments or tenures. Check monthly affordability alongside total interest; use Advanced prepayment only if your agreement permits it. Save locally or prepare the result report.
Results are estimates for illustration only and are not financial, tax or investment advice.