EMI Calculator for Home Loan, Car Loan and Personal Loan in India
What is a Car Loan EMI Calculator?
A Car Loan EMI Calculator helps you plan your dream car purchase by estimating the monthly payments. It takes the guesswork out of auto financing, allowing you to adjust the loan amount and tenure to find an EMI that suits your pocket.
How It Works
The tool calculates the Equated Monthly Installment (EMI) using the principal amount, interest rate, and loan duration. It assumes a fixed interest rate over the tenure.
Example Calculation
Raj buys a car with a loan of ₹8,00,000 for 5 years at 9% interest.
- 1.Principal (P) = ₹8,00,000
- 2.Rate = 9% => Monthly Rate (r) = 0.0075
- 3.Tenure = 5 years => 60 months (n)
- 4.EMI Calculation = 8,00,000 * 0.0075 * (1.0075)^60 / ((1.0075)^60 - 1)
- 5.Monthly EMI = ₹16,607
- 6.Total Interest Payable = ₹1,96,393
- 7.Total Cost of Car (Loan + Interest) = ₹9,96,393
Why This Tool is Useful
- ✓Helps you decide your budget for the car.
- ✓Shows the impact of down payment on your EMI.
- ✓Allows comparison between different lenders' rates.
- ✓Helps you choose a tenure that keeps the car affordable.
- ✓Avoids financial strain by planning ahead.
Tips & Comparison
- •20/4/10 Rule: Try to put down at least 20%, finance for no more than 4 years, and keep expenses under 10% of income.
- •On-Road Price: Remember that the loan is usually on the ex-showroom price (or up to 80-90% of on-road). Factor in insurance and registration costs.
- •Resale Value: Consider the resale value of the car model, as it depreciates over time.
- •Negotiate: Dealers often have tie-ups with banks. Negotiate for better rates or waiver of processing fees.
Frequently Asked Questions (FAQs)
Latest From Our Blog
View All Posts
Managing credit card expenses becomes much easier when you clearly understand how your monthly payments are calculated. Many people convert large card spends into EMIs without fully knowing how interest, processing fees, and billing cycles affect the final amount they repay. That’s where a Credit Card EMI Calculator becomes genuinely useful—not as a sales tool, […]
Kalyani
Why an EMI calculator genuinely matters before taking a loan When people search for an EMI calculator, they are usually standing at a financial crossroads. A personal loan offer looks attractive, a home loan feels necessary, or a credit card balance has started to grow faster than expected. What most borrowers want at that moment […]
Kalyani
A Salary-Based EMI Calculator Guide for Smarter Borrowing Borrowing money is no longer just about getting a loan approved. In 2026, the real challenge is knowing how much EMI you can truly afford without putting daily life, savings, or long-term goals at risk. With rising living costs, flexible work incomes, and multiple loan options, a […]
Kalyani