Car Loan Calculator
Calculate your monthly installments for any loan amount with precision.₹10K₹10Cr
%
1%30%
mo
1 month30 years
Monthly EMI₹87,220
Principal Amount₹10,00,000
Total Interest₹46,637
Total Payment₹10,46,637
Principal (95.5%)
Interest (4.5%)
Amortization Schedule
Detailed month-by-month breakdown of your loan repayment| Month | Principal Paid | Interest Charged | Total Payment | Balance |
|---|---|---|---|---|
| 1 | ₹80,136 | ₹7,083 | ₹87,220 | ₹9,19,864 |
| 2 | ₹80,704 | ₹6,516 | ₹87,220 | ₹8,39,159 |
| 3 | ₹81,276 | ₹5,944 | ₹87,220 | ₹7,57,884 |
| 4 | ₹81,851 | ₹5,368 | ₹87,220 | ₹6,76,032 |
| 5 | ₹82,431 | ₹4,789 | ₹87,220 | ₹5,93,601 |
| 6 | ₹83,015 | ₹4,205 | ₹87,220 | ₹5,10,586 |
| 7 | ₹83,603 | ₹3,617 | ₹87,220 | ₹4,26,983 |
| 8 | ₹84,195 | ₹3,024 | ₹87,220 | ₹3,42,788 |
| 9 | ₹84,792 | ₹2,428 | ₹87,220 | ₹2,57,996 |
| 10 | ₹85,392 | ₹1,827 | ₹87,220 | ₹1,72,603 |
| 11 | ₹85,997 | ₹1,223 | ₹87,220 | ₹86,606 |
| 12 | ₹86,606 | ₹613 | ₹87,220 | ₹0 |
Car Loan EMI Calculator
Car Loan EMI Calculator – Calculate Monthly EMI Instantly
What Is Car Loan EMI?
Car loan EMI is the fixed monthly amount paid to the lender until the vehicle loan is fully repaid. Each EMI consists of:• Principal repayment• Interest on the outstanding loan amountSince car loans are secured against the vehicle, they generally have lower interest rates compared to personal loans.
Car Loan EMI Formula
The standard formula used to calculate car loan EMI is:EMI = [P × R × (1+R)N] / [(1+R)N – 1]Where:P = Loan amount (Principal)
R = Monthly interest rate (Annual rate ÷ 12 ÷ 100)
N = Loan tenure in months
Factors Affecting Car Loan EMI
Car Price & Loan Amount: Higher on-road price increases EMI.Interest Rate: Rates vary based on lender, credit score, and car type (new or used).Loan Tenure: Longer tenure reduces EMI but increases total interest paid.Down Payment: Higher down payment lowers EMI and interest burden.New Car Loan vs Used Car Loan
New Car Loan: Lower interest rates, longer tenure, and higher loan eligibility.Used Car Loan: Higher interest rates and shorter tenure due to vehicle depreciation.Frequently Asked Questions
What is the maximum tenure for a car loan?Car loan tenure generally ranges from 3 to 7 years.Is down payment mandatory for car loans?
Yes, most lenders require a minimum down payment, usually between 10% to 20%.Can I prepay my car loan?
Yes, most lenders allow prepayment, though prepayment charges may apply.