Car Loan EMI Calculator

Yr
%

Estimated Monthly EMI

₹ 21,247

Principal₹ 1,000,000
Total Interest₹ 274,823
Total Payable₹ 1,274,823

EMI Amortization Schedule

Car Loan EMI Calculator – Calculate Your Car Loan Instantly

Easily calculate your monthly car loan EMI with Rupeeksha's accurate and free online car loan EMI calculator.

Why Use a 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.

  • ✅ Instant EMI calculation saves your time
  • ✅ 100% accurate results with zero manual error
  • ✅ Helps plan your car purchase budget easily
  • ✅ No registration, free and unlimited use

How Is Car Loan EMI Calculated?

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.

Amortization Schedule Explained

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.

How to Use the Car Loan Calculator?

  1. Enter the loan amount
  2. Enter the annual interest rate
  3. Select the tenure in years

Your monthly EMI and total repayment amount will be displayed instantly.

Benefits of Using Our Online Car Loan EMI Calculator

100% Free

Use unlimited times without registration or fees.

Safe & Secure

No data tracking or storage – completely private.

Saves Time

Make decisions faster and plan better financially.

Start Calculating Your Car Loan EMI Now

Make your dream car a reality with the right financial planning.

Use Car Loan Calculator

Frequently Asked Questions – Car Loan EMI

A Car Loan EMI (Equated Monthly Installment) is the fixed monthly payment you make to repay your car loan. It includes both the principal and interest amounts and is paid over the loan tenure.

EMI is calculated using the formula: EMI = [P x R x (1+R)^N] / [(1+R)^N – 1]
Where P = Principal, R = Monthly interest rate, and N = Number of EMIs. You can use our EMI Calculator to get quick and accurate results.

Yes, most lenders require a down payment of 10% to 25% of the car’s on-road price. The remaining amount is financed through the loan.

Yes, most banks and NBFCs allow prepayment or foreclosure. However, they may charge a small penalty (typically 2% to 5% of the outstanding amount). Always check with your lender before proceeding.

You will typically need:
  • ✔️ Identity Proof (Aadhaar, PAN, Passport)
  • ✔️ Address Proof
  • ✔️ Income Proof (Salary Slips or ITR)
  • ✔️ Bank Statements (last 6 months)
  • ✔️ Car quotation or proforma invoice