Car Loan EMI Calculator
Find out your car loan EMI and total interest payable.
Results are estimates. Actual EMI may vary by lender.
A car loan EMI calculator helps you plan your vehicle purchase by giving you a clear picture of your monthly financial commitment before walking into the showroom. With car prices in India ranging from ₹5 lakh to over ₹1 crore, knowing your exact EMI upfront prevents you from overextending your budget and helps you negotiate better with dealers.
📋 How to Use This Calculator
Enter the on-road price of the car minus your down payment (this is your loan amount), the interest rate offered by your bank or the car manufacturer's finance arm, and the tenure (typically 3–7 years for car loans in India). The calculator instantly shows the monthly EMI, total interest, and total cost. A key tip: compare the dealer's in-house financing rate with your own bank's pre-approved rate — you may get a significantly better deal through your bank.
💡 Key Facts & Information
Car loan interest rates in India typically range from 8.5% to 15% p.a. depending on your credit score, the car model (new vs used), and the lender. New cars usually get lower rates than used cars. Banks finance up to 85–100% of the ex-showroom price for new cars. The tenure for new cars goes up to 7 years; for used cars, lenders typically cap at 5 years. A CIBIL score above 750 helps you qualify for the best rates. Remember that the total cost of car ownership includes insurance (mandatory third-party + comprehensive), fuel, maintenance, and depreciation — your EMI is just one part of the equation.