Car Loan EMI Calculator
Free car loan EMI calculator: enter the loan amount, interest rate and tenure to see your monthly EMI, total interest and a year-wise amortization schedule.
Car Loan EMI Calculator — Find Your Monthly Auto Loan Payment
Buying a new Maruti Brezza, Hyundai Creta, or Tata Nexon? Most car purchases in India happen on EMI, and getting the math right before you walk into the dealership can save you tens of thousands of rupees. Our Car Loan EMI Calculator gives you the exact monthly payment, total interest, and total amount payable on the loan so you can negotiate confidently.
Enter the loan amount, interest rate, and tenure to see your EMI, total interest paid, and a year-wise repayment schedule. No signup, no cost.
How to Calculate Car Loan EMI
1. Enter Loan Amount
Enter the amount you will borrow — the on-road price minus your down payment.
2. Interest Rate
Enter the rate your bank or dealer quotes. It depends on the lender and your credit profile.
3. Set Tenure
Car loans usually run 3-7 years. Shorter tenure means higher EMI but less interest paid overall.
4. View EMI
See monthly EMI, total interest, total payment, and a year-wise amortisation schedule.
Car Loan Calculator Features
Plan Your Down Payment
Lower the loan amount to see how a bigger down payment cuts your EMI and the total interest.
Try Different Tenures
Change the tenure to see how the EMI and total interest move, one tenure at a time.
Visual Breakdown
A chart shows how much of everything you repay is the loan amount and how much is interest.
Amortisation Schedule
Year-wise breakdown of principal vs interest paid — useful when planning a foreclosure.
Multiple Currencies
Show amounts in any of 20 currency symbols, from the rupee and US dollar to the euro, pound and yen. Only the symbol changes; nothing is converted.
Free and Private
No signup, no tracking. Runs entirely in your browser.
How the Car Loan EMI Is Calculated
The calculator uses the standard reducing-balance formula: EMI = P × r × (1 + r)n ÷ [(1 + r)n − 1], where P is the loan amount, r is the monthly rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly instalments (years × 12). Total payment is EMI × n, and total interest is the total payment minus P.
For the schedule, each month’s interest is the balance still owed × r, and the rest of the instalment repays principal. The table adds up the twelve months of each year.
Worked example: a car loan of ₹10,00,000 at 9% a year for 5 years (the calculator’s starting values).
- r = 9 ÷ 12 ÷ 100 = 0.0075 a month, and n = 60 instalments.
- EMI = ₹20,758 a month.
- Total payment = ₹12,45,501, so the total interest is ₹2,45,501.
- In year 1 you pay ₹83,270 of interest and ₹1,65,830 of principal, leaving ₹8,34,170 to repay.
Amounts are rounded to the nearest rupee on screen; the calculation itself is not rounded, so multiplying the rounded figures can differ by a few rupees.