Car Loan EMI Calculator

Your details

The total amount you are borrowing from the lender, after any down payment.
The yearly interest rate quoted by your lender. Typical car loan rates in India range from 7% to 15% per annum.
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The repayment duration. Common tenures are 12, 24, 36, 48, 60, or 84 months.
One-time fee charged by the lender (usually 0.5% to 2% of the loan amount). Leave at 0 to skip.
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Currency
Monthly EMI
₹12,601

Your fixed equated monthly instalment

Loan amount₹600,000
Total interest₹156,067
Total payable₹756,067
Processing fee₹0

Your EMI is 12,601 per month, totalling 7,56,067 over the tenure.

  • Interest adds about 26% on top of the principal, paying back 7,56,067 on a 6,00,000 loan.
  • Making one extra EMI per year can cut the tenure by several months and significantly reduce the total interest paid.
  • A higher down payment reduces the principal and therefore both the EMI and the lifetime interest.
  • Compare rates from at least two or three lenders: even a 0.5% difference in rate can save thousands over the life of the loan.

Next stepTry a shorter tenure to see how much interest you can save, or adjust the down payment to bring the EMI into your budget.

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