Car Loan EMI Calculator
Calculate your monthly car loan payment. Adjust amount, interest rate, and tenure — results update instantly.
Your Monthly EMI
₹10,258
Principal
₹5,00,000
Total Interest
₹1,15,496
Total Payable
₹6,15,496
Breakdown
Principal: ₹5,00,000 (81%)
Interest: ₹1,15,496 (19%)
Interest-to-Principal: 23.1%
📊 Interactive EMI Breakdown
Principal vs Interest
Year-by-Year Payment Split
Scenario Comparison
| Metric | Your plan | +1% Interest (9.5%) | +12 Months (72mo) |
|---|---|---|---|
| Monthly EMI | ₹10,258 | ₹10,501 ↑ ₹243 | ₹8,889 ↓ ₹1,369 |
| Total Interest | ₹1,15,496 | ₹1,30,056 ↑ ₹14,560 | ₹1,40,022 ↑ ₹24,526 |
| Total Payable | ₹6,15,496 | ₹6,30,056 | ₹6,40,022 |
Popular Car Loan EMI Amounts
📐 How Car Loan EMI is Calculated
Convert annual rate to monthly
r = 8.5% ÷ 12 = 0.00708= Monthly rate: 0.708%
Calculate (1+r)^n
(1 + 0.00708)^60 = 1.526= Compounding factor: 1.526
Apply EMI formula
EMI = 5,00,000 × 0.00708 × 1.526 ÷ (1.526 - 1)= Monthly EMI: ₹10,243
Calculate total interest
(₹10,243 × 60) − ₹5,00,000= Total interest: ₹1,14,580
Rate Comparison
SBI Car Loan
₹10,122/mo
8.25% p.a. | 5 yrs | Total interest: ₹1,07,320
HDFC Bank Car Loan
₹10,364/mo
8.75% p.a. | 5 yrs | Total interest: ₹1,21,840
Save on Car Loan Interest
💡 Understanding Car Loan EMI
A car loan EMI depends on three factors: the principal amount you borrow, the annual interest rate offered by your bank, and the repayment tenure. Most car loans in India range from 7–12% for new cars and 14–18% for used cars.
Always negotiate the interest rate before signing. Even a 0.25% reduction on a ₹5 Lakh loan over 5 years saves approximately ₹800 in total interest. Check pre-approved offers from your existing bank first — they're typically 1–2% lower than walk-in rates.