Easily calculate your monthly car loan EMI with Rupeeksha's accurate and free online car loan EMI calculator.
India is the 4th largest automobile market in the world, with car ownership growing steadily every year. Whether you’re buying a new or used car, a car loan can make ownership easier. Knowing your EMI in advance helps you make a smarter financial decision.
The EMI is calculated using a standard formula:
EMI = [P x R x (1+R)^N] / [(1+R)^N – 1] Where: P = Loan amount, R = Monthly interest rate, N = Tenure in months
For example, a ₹10 Lakh loan at 10% interest for 7 years gives you an EMI of ₹16,602/month. Total payment over time would be ₹13.94 Lakh.
An amortization schedule shows how each EMI splits into principal and interest. In early months, interest is higher; later EMIs reduce interest and increase principal.
For instance, a ₹8 Lakh car loan at 9.5% interest for 5 years will have the schedule gradually shifting from interest-heavy to principal-heavy payments.
Your monthly EMI and total repayment amount will be displayed instantly.
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Use Car Loan CalculatorEMI = [P x R x (1+R)^N] / [(1+R)^N – 1]