EMI Calculator for Home Loan, Car Loan and Personal Loan in India
Monthly EMI
₹ 0
Total payment
₹ 0
| Month | Payment Date | Principal | Interest | EMI | Remaining Balance |
|---|
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
Tata Steel is one of India’s most respected and oldest steel manufacturers, playing a crucial role in the country’s infrastructure and industrial growth. Investors closely track the Tata Steel share price today as it reflects not only company performance but also broader economic and global commodity trends. In this article, we provide live market insights, […]
Kalyani
EMI Planning Strategy for Salaried Employees in 2026: A Practical & Smart Guide In 2026, managing EMIs has become one of the most important financial skills for salaried individuals in India. With rising living costs, changing interest rates, and increasing access to instant loans, poor EMI planning can quickly lead to financial pressure—even for people […]
Kalyani
In India, gold and silver have always been more than just precious metals. They are trusted investment options, cultural symbols, and financial safety nets. As we move into 2026, investors are actively comparing the gold rate in India and the silver rate in India to decide which metal offers better returns, stability, and long-term value. […]
Kalyani