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HomeEMI Calculator

Car Loan EMI Calculator

Calculate your exact monthly instalment in seconds. Compare rates across tenures and plan your car purchase confidently.

100% Accurate Formula
Compare Multiple Rates
All Banks Covered
Vehicle Price₹10.00 L
20%₹2.00 L
5%60%
8.5% p.a.
6%15%

Loan Amount

₹8.00 L

20% down · 5 yr · 8.5% p.a.

Monthly EMI

₹16,413

Principal 81%
Interest 19%
Down Payment₹2.00 L
Loan Amount₹8.00 L
Total Interest₹1.85 L
Total Amount Payable₹9.85 L
💰

Higher down payment = lower EMI and less total interest paid.

📅

Shorter tenure means higher EMI but saves significantly on interest.

🏦

A good credit score (750+) can help you secure rates below 8%.

How EMI is Calculated

EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ − 1)

  • P = Principal loan amount
  • r = Monthly interest rate
  • n = Number of months

Bank Interest Rates

SBI8.85%
HDFC Bank8.75%Lowest
ICICI9.00%
Axis Bank9.25%
Kotak8.99%

*Indicative rates. Check with bank for latest.

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