Car Loan EMI Calculator — Plan Your Car Finance
Calculate car loan EMIs. Enter your vehicle's on-road price, down payment, interest rate, and instantly check auto loan rates across leading Indian banks.
Car Loan Details
Payment Breakdown
Compare Auto Loan EMI across Top Lenders
| Bank | Interest Rate (p.a.) | Monthly EMI | Total Interest | Total Payment |
|---|
Common Car Loan EMI Reference Table (at 8.75% Rate)
| Financed Amount | Rate | 3 years | 5 years | 7 years |
|---|---|---|---|---|
| ₹5 Lakh | 8.75% | ₹15,848 | ₹10,319 | ₹7,973 |
| ₹10 Lakh | 8.75% | ₹31,697 | ₹20,638 | ₹15,946 |
| ₹15 Lakh | 8.75% | ₹47,545 | ₹30,957 | ₹23,918 |
| ₹20 Lakh | 8.75% | ₹63,394 | ₹41,276 | ₹31,891 |
| ₹25 Lakh | 8.75% | ₹79,242 | ₹51,595 | ₹39,864 |
Repayment Amortization Schedule
| Year / Month | Principal (A) | Interest (B) | Total Payment (A + B) | Balance | Loan Paid To Date |
|---|
Tata & Maruti Suzuki Model Calculators
Nexon
Punch
Tiago
Altroz
Tigor
Harrier
Safari
Curvv
Nexon EV
Punch EV
Swift
Baleno
Brezza
Ertiga
Wagon R
Dzire
Fronx
Grand Vitara
Alto K10
Jimny
What is a Car Loan EMI Calculator?
A car loan is a reducing balance interest loan that helps you buy your dream car by spreading the cost over monthly instalments. An online **Car Loan EMI Calculator** enables you to enter the on-road price of the vehicle, the upfront down payment contribution, interest rate, and tenure, to compute your exact monthly outgoings instantly.
Our tool provides dedicated setups for **Tata and Maruti Suzuki cars** in India. For example, if you check the **Tata Nexon EMI Calculator** or the **Maruti Swift EMI Calculator**, the values are pre-filled with the vehicle's actual average starting on-road prices. You can slide or type the values to calculate how changing your down payment or choosing a longer tenure affect your monthly payments.
How Down Payment Reduces Your Interest Outgo
Your loan principal amount is calculated as `On-Road Price - Down Payment`. The larger the down payment you make, the lower the principal you borrow from the bank. This results in smaller monthly EMIs and substantially lower total interest payable. Lenders generally offer more competitive rates when you make a down payment of 20% or more.
Reducing Balance EMI Formula
The monthly instalments are calculated using the compound reducing balance formula:
EMI = [P x R x (1+R)^N] / [(1+R)^N-1]
Where:
• P (Principal) = On-Road Price minus Down Payment
• R (Rate) = Monthly interest rate (Annual Rate / 12 / 100)
• N (Tenure) = Tenure in months (Years * 12)
Frequently Asked Questions (FAQ)
What is a Car Loan EMI?
A Car Loan EMI (Equated Monthly Instalment) is a fixed payment made by the borrower to the bank each month. It covers both principal repayment and interest charges.
What is the maximum tenure for car loans in India?
Most banks and auto finance companies offer tenure ranges from 1 year up to 7 years.
Which bank offers the lowest car loan interest rates?
Public sector banks like SBI typically offer the lowest auto loan interest rates starting around 8.75% to 9.20% p.a., while private banks offer faster processing.