Car Loan EMI Calculator
Car loans run shorter and cost more than home loans — typically 3 to 7 years at 8.5–14% — so this calculator opens with an ₹8 lakh loan at 9.5% for 5 years to match that shape. Enter your own on-road price and down payment and the EMI updates instantly, entirely in your browser.
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- Works offline once loaded
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Preparing Car Loan EMI Calculator for you…
Loading the tool into your browser. Nothing is uploaded — the work happens on your device.
Extra paid every month on top of the EMI — it goes straight to principal and closes the loan early.
Monthly EMI
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- Total interest {{ inr(result.totalInterest) }}
- Total payment {{ inr(result.totalPayment) }}
- Interest share {{ interestShare }}%
Principal {{ inr(amount) }} · Interest {{ inr(result.totalInterest) }}
Amortization schedule
| Year | Principal paid | Interest paid | Total paid | Balance |
|---|---|---|---|---|
| {{ row.year }} | {{ inr(row.principal) }} | {{ inr(row.interest) }} | {{ inr(row.paid) }} | {{ inr(row.closing) }} |
| Month | Opening | Payment | Principal | Interest | Closing |
|---|---|---|---|---|---|
| {{ row.m }} | {{ inr(row.opening) }} | {{ inr(row.emi) }} | {{ inr(row.principal) }} | {{ inr(row.interest) }} | {{ inr(row.closing) }} |
How to use this tool
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Work out the loan amount
Loan amount is the on-road price minus your down payment — dealers usually expect 10–20% down, so the loan is smaller than the sticker price.
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Enter rate and tenure
Car loan rates commonly run 8.5–14% depending on new vs used and your lender; tenure is usually 3–7 years.
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Read your EMI and total interest
The EMI, total interest and principal-vs-interest split update instantly as you change any number.
Questions people ask
What is the EMI for an ₹8 lakh car loan at 9.5% for 5 years?
About ₹16,805 per month. Over 60 months you repay roughly ₹10.08 lakh, of which about ₹2.08 lakh is interest — the default example on this calculator shows the exact numbers.
Is the loan amount the same as the on-road price?
No — the loan amount is the on-road price (ex-showroom + RTO + insurance) minus your down payment. Most lenders finance 80–90% of the on-road price, so enter that smaller figure here, not the sticker price.
Why are car loan rates higher than home loan rates?
A car depreciates fast and is harder to recover value from than a house, so lenders price in more risk — car loan rates typically run 8.5–14% against 8–9.5% for home loans, and used-car loans sit at the higher end.
Should I choose a 3-year or a 7-year car loan?
A shorter tenure means a higher EMI but far less total interest, since a car loses value quickly and you want to avoid still owing money on a car worth less than the loan. Try both tenures here and compare the total-interest figure.
Does a longer tenure ever make sense for a car loan?
Only if the higher EMI would strain your monthly budget — stretching tenure to lower the EMI costs meaningfully more in total interest, which this calculator shows side by side when you change the tenure field.
Is my loan data private?
Yes — the calculation runs entirely in your browser, nothing is uploaded, and the page keeps working offline once it has loaded.
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