Free tool

Car Loan EMI Calculator

Work out the monthly EMI on a new or used car loan, the total interest, and how each payment splits between interest and the loan.

Loan amount (₹) Interest rate (% per year) Use the reducing-balance rate your lender quotes. Tenure (years)

Monthly EMI ₹0

Total interest ₹0

Total you repay ₹0

Loan amount Interest

Year-by-year repayment

How each year's EMIs split between interest and the loan itself, and what you still owe at the end of the year.

Year	Interest paid	Loan repaid	Still owed

Show the month-by-month schedule

Month	Interest	Loan repaid	Still owed

EMI for common loan amounts

Illustration at 9% a year, reducing balance. Your rate will differ, so use the calculator above for your own numbers.

Loan	3 years	5 years	7 years
₹3 lakh	₹9,540	₹6,228	₹4,827
₹5 lakh	₹15,900	₹10,379	₹8,045
₹8 lakh	₹25,440	₹16,607	₹12,871
₹10 lakh	₹31,800	₹20,758	₹16,089
₹15 lakh	₹47,700	₹31,138	₹24,134
₹20 lakh	₹63,599	₹41,517	₹32,178

This is an illustration at a single rate for the whole term. Lenders also charge a processing fee, and the on-road price includes insurance and registration that a loan may not fully cover. Compare offers on the APR shown in the Key Facts Statement.

How this is calculated

The calculator uses the reducing-balance formula lenders use for car loan EMIs. Interest is charged on the balance you still owe, so early EMIs are mostly interest and later ones mostly repay the loan. If a dealer quotes a flat rate, the real reducing-balance rate is much higher; ask for the APR.

A worked example

Illustration: an 8 lakh rupee car loan at 9% a year.

Over 3 years, the EMI is about ₹25,440 and the total interest about ₹1.16 lakh.
Over 5 years, the EMI is about ₹16,607 and the total interest about ₹1.96 lakh.
Over 7 years, the EMI falls to about ₹12,871, but the total interest rises to about ₹2.81 lakh.
At 9.5% instead of 9% over 5 years, the EMI rises to about ₹16,801.

A bigger down payment and a shorter tenure keep the total cost down. Before you sign, read our car loan basics for the fees and paperwork to check.

Questions people ask

How much will my car loan EMI be (car loan EMI kitni hogi)?

It depends on the loan amount, the rate and the tenure. In the illustration on this page, an 8 lakh rupee car loan at 9% a year has an EMI of about ₹16,607 over 5 years, or about ₹12,871 over 7 years. Enter your own numbers above, or see the table of EMIs for common loan amounts.

Is a longer car loan tenure a good idea?

It lowers the EMI but raises the total interest, and a car loses value every year. In the illustration on this page, stretching an 8 lakh loan at 9% from 5 to 7 years cuts the EMI by about ₹3,700 but adds about ₹84,800 in interest. A long loan can also leave you owing more than the car is worth.

Can I prepay a car loan without a charge?

It depends on the rate type. Under RBI directions for loans sanctioned or renewed from 1 January 2026, a lender cannot charge for prepaying a floating-rate loan taken by an individual for non-business use. Many car loans have a fixed rate, and then the lender may charge as per its policy, if the charge is disclosed in the Key Facts Statement.

What happens to the car registration until the loan is repaid?

The car is hypothecated to the lender, which means the lender's interest is recorded on the registration certificate. After the last EMI, the lender gives you a no-objection certificate, and you apply to the RTO to remove the hypothecation from the registration.