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Car Loan EMI Calculator
Free car loan EMI calculator for India — monthly EMI, total interest, and tenure estimates on a reducing-balance rate.
Last updated 2026-09-18
Monthly EMI
₹21,002
Total interest
₹2,60,112
Total payment
₹12,60,112
Months
60
Amortization preview
| Month | EMI | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | ₹21,002 | ₹13,085 | ₹7,917 | ₹9,86,915 |
| 2 | ₹21,002 | ₹13,189 | ₹7,813 | ₹9,73,726 |
| 3 | ₹21,002 | ₹13,293 | ₹7,709 | ₹9,60,433 |
| 4 | ₹21,002 | ₹13,398 | ₹7,603 | ₹9,47,034 |
| 5 | ₹21,002 | ₹13,505 | ₹7,497 | ₹9,33,530 |
| 6 | ₹21,002 | ₹13,611 | ₹7,390 | ₹9,19,918 |
How it works
Same reducing-balance EMI formula as home loans: EMI = P × r × (1 + r)^n / ((1 + r)^n − 1).
How to use this calculator
- Enter the inputs shown above (amount, rate, tenure, income, or other fields).
- Read the live results — they update as you type.
- Check the formula, worked example, and assumptions on this page before you decide.
Formula
Same reducing-balance EMI formula as home loans: EMI = P × r × (1 + r)^n / ((1 + r)^n − 1).
Worked example
A ₹10 lakh car loan at 9.5% for 5 years has an EMI of about ₹21,000.
Reading the result
Treat the output as a planning figure. Compare it with your sanction letter, payslip, or GST invoice rather than treating it as a filing or a loan offer.
See also: calculation methodology and disclaimer.
Frequently asked questions
Most Indian car loans run 3–7 years. Shorter tenures cost less interest; longer tenures ease monthly cash flow.
Assumptions and limits
- This is a planning estimate. Your lender, employer, or tax officer may use different inputs or rounding.
Results are educational estimates, not tax, legal, investment, or medical advice, and not a loan offer. Verify filings and payments with the official authority or a qualified professional.