Car Loan EMI Calculator
Set the car price, down payment, interest rate and tenure to see your monthly instalment, total interest and repayment schedule. Estimates only — your lender's final offer depends on credit profile and documentation.
Year-wise Repayment Schedule
How your balance reduces over the tenure
| Year | Principal paid | Interest paid | Balance |
|---|---|---|---|
| Year 1 | ₹ 1,31,234 | ₹ 70,383 | ₹ 6,68,766 |
| Year 2 | ₹ 1,44,259 | ₹ 57,359 | ₹ 5,24,506 |
| Year 3 | ₹ 1,58,576 | ₹ 43,041 | ₹ 3,65,930 |
| Year 4 | ₹ 1,74,315 | ₹ 27,303 | ₹ 1,91,615 |
| Year 5 | ₹ 1,91,615 | ₹ 10,003 | ₹ 0 |
Indicative Bank Interest Rates
Rates vary by credit score, income and lender policy
| Lender | Interest rate | Maximum tenure | Funding |
|---|---|---|---|
| State Bank of India | 8.85% onwards | Up to 7 years | Up to 90% of on-road price |
| HDFC Bank | 9.20% onwards | Up to 7 years | Up to 100% of ex-showroom price |
| ICICI Bank | 9.10% onwards | Up to 7 years | Up to 100% of ex-showroom price |
| Axis Bank | 9.30% onwards | Up to 8 years | Up to 95% of on-road price |
| Bank of Baroda | 8.95% onwards | Up to 7 years | Up to 90% of on-road price |
| Kotak Mahindra Bank | 9.40% onwards | Up to 7 years | Up to 90% of on-road price |
Rates shown are indicative starting rates and change frequently. Confirm current terms with the lender.
Calculate EMI for Popular Cars
On-road estimates for Delhi NCR
How the EMI Is Calculated
An equated monthly instalment spreads the loan amount and interest across equal monthly payments. The formula used here is EMI = P x r x (1+r)^n ÷ ((1+r)^n − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the tenure in months.
Early instalments are interest-heavy; the principal component grows as the balance falls. A shorter tenure raises the EMI but cuts total interest sharply, while a larger down payment reduces both.
This calculator excludes processing fees, documentation charges and insurance financed with the loan. Add those to compare offers on an equal footing.
Prices and specifications are indicative and may change. Verify details with an authorized dealership.