Thinking of buying a new or used car with a loan? Our Car Loan EMI Calculator shows your monthly payment in just a few seconds. Just enter your loan amount, interest rate, and loan tenure – and see your monthly EMI instantly.
It works for all banks in India – SBI, HDFC, ICICI, Axis Bank, or any NBFC.
Monthly Loan EMI
₹
Total Interest Payable
₹
Total Payment
(Principal + Interest)
₹
💡 What is a Car Loan EMI?
EMI stands for Equated Monthly Installment – the amount you pay every month to repay your car loan. It includes:
- 🔹 Principal – The amount you borrowed
- 🔹 Interest – The fee charged by the bank for giving you a loan.
Your EMI stays the same every month, but the mix of principal and interest changes with each payment.
🧮 Simple Steps to Using the Car Loan EMI Calculator
Using our calculator is very easy:
- Enter Loan Amount (e.g. ₹6,00,000)
- Select Interest Rate (e.g. 9.5% per year)
- Choose Loan Tenure (e.g. 5 years)
Click “Calculate”
And done! You’ll get:
✅ Monthly EMI
✅ Total Interest Payable
✅ Total Amount Payable (Principal + Interest)
🎯 Why Our Car Loan EMI Calculator is Helpful.
Why guess when you can calculate? Here’s why our tool is useful:
- ✅ Quick & Easy – No math needed
- ✅ Clear Breakdown – Know what you’ll pay
- ✅ Helps Compare Loans – Try different banks and tenures
- ✅ Works for All Lenders – Indian banks and NBFCs supported
- ✅ Budget-Friendly Planning – Avoid financial pressure
📊 Example of a Car Loan EMI Calculation
Let’s say:
- Loan Amount: ₹7,00,000
- Interest Rate: 10%
- Tenure: 5 years
👉 Your Monthly EMI will be around ₹14,872
👉 Total Interest Payable: ₹1.92 lakhs (approx)
You can change the values in the calculator to match your plan and get the best EMI fit.
📌 What Factors Affect Your Car Loan EMI?
Here are the main things that decide your EMI:
- Loan Amount – Bigger loan = bigger EMI
- Interest Rate – Even 0.5% change matters
- Loan Duration – Longer tenure means you pay less each month but pay more interest in total.
- Down Payment – Higher upfront payment lowers the EMI
- Bank Charges – Processing fees or prepayment charges may apply
Using our Car Loan EMI Calculator, you can check how changing these affects your EMI.
💳 Prepayment & Foreclosure – Pay Early, Save More
If you get extra money, you can reduce your loan burden early:
- Prepayment: Clear some of your loan amount before the due date.
- Foreclosure: Pay off the full loan amount before the end of the loan period.
Benefits:
- ✔ Save on interest
- ✔ Finish loan faster
- ✔ Less stress on future budget
Some banks may charge a small fee, so make sure to check. You can use the calculator to see how much interest you save by making early payments.
🔄 Review and Compare Car Loan Deals Before Applying
Car loans differ from bank to bank. Interest rates, processing fees, and other costs may vary, so it’s smart to compare before you apply.
Here’s what you should compare:
| Factor | Why It Matters |
|---|---|
| Interest Rate | Lower rate = lower EMI |
| Loan Tenure | Affects EMI and total interest |
| Processing Fee | One-time fee, varies by bank |
| Prepayment Charges | Extra cost if you close early |
| Customer Support | Helpful for future queries |
Try different options with the Car Loan EMI Calculator to find the best fit for your budget. Remember, don’t only focus on the EMI — look at the total loan cost as well.
✅ Smart Ways to Reduce Your Car Loan EMI
Want to lower your monthly payments? Try these smart ideas:
Choose a longer loan term, but keep an eye on the total interest you’ll pay.
- Make a bigger down payment if possible
- Compare banks – interest rates and offers vary
- Look for festive offers or limited-time discounts
- Check zero processing fee deals from some lenders
🏦 Calculate EMI for All Leading Indian Banks
Our Car Loan EMI Calculator works with loan plans from:
- SBI Car Loan
- HDFC Car Loan
- ICICI Bank Auto Loan
- Axis Bank Car Loan
- Bajaj Finserv Car Finance
- Kotak Mahindra, IDFC First & more
🔎 Want to Check Car Loan Interest Rate or Eligibility?
Using our Car Loan EMI Calculator is just the first step toward smart car buying. If you also want to:
🚗 Compare latest Car loan interest rate calculator from top Indian banks
✅ See if you’re eligible for a car loan before applying
Explore your best options and apply with confidence!
| Car loan interest rate | Loan Eligibility |
❓ FAQs: Car Loan EMI Calculator
Q1. Is car loan EMI the same every month?
A1. Yes, the EMI amount stays fixed, but interest and principal parts keep changing.
Q2. Is it better to choose a low EMI or short loan tenure?
A2. Low EMI is easier monthly, but short tenure saves more on interest.
Q3. Does a longer tenure mean lower EMI?
A3. Yes, but you’ll end up paying more total interest.
Q4. Is GST included in car loan EMI?
A4. No, GST is usually charged separately on processing and other fees.
Q5. Will my EMI change if interest rates go up?
A5. Yes, if you have a floating rate loan, your EMI or tenure may increase.
📝 Final Thoughts – Drive Home Without Worry
Buying a car is exciting, but it’s also a financial responsibility. Our Car Loan EMI Calculator helps you plan better, compare smarter, and choose wisely.
Don’t wait – try it now and make sure your dream car also fits your monthly budget comfortably!