Free Car Loan EMI Calculator
Car loans are shorter than home loans, usually 3 to 7 years. Enter the loan details and see your EMI, total interest and the total cost with the processing fee.
Note: Results are estimates for learning and planning. They are not financial, tax or investment advice, and actual figures from your bank or lender may differ. See our disclaimer.
How to use Car Loan EMI Calculator
- Enter the loan amount (the price minus your down payment).
- Enter the interest rate.
- Enter the tenure in years, and the processing fee if any.
- Click Calculate EMI.
About this tool
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1). For example, an ₹8,00,000 loan at 9% for 5 years has an EMI of about ₹16,607 and total interest of about ₹1.96 lakh. A bigger down payment lowers the loan amount and the interest. Some lenders quote a flat rate, which is different from the reducing-balance rate used here, so ask which one applies. Insurance, registration and other charges are not included.
Frequently asked questions
What tenure is usual for a car loan?
Often 3 to 7 years. Check what your lender offers.
What is a flat rate?
A flat rate is charged on the original amount for the whole loan. It costs more than the same reducing-balance rate. This calculator uses the reducing balance.
Does the down payment matter?
Yes. A bigger down payment means a smaller loan and less interest.
Are insurance and registration included?
No. Only the loan EMI and the fee you enter.
Is my data stored?
No. Everything runs in your browser.