Car Loan EMI Calculator
Instalment, total interest and repayment schedule for a vehicle loan after your down payment.
Result
- Total payment
- ₹10,08,089
- Principal plus interest
- Amount borrowed
- ₹8,00,000
- Final instalment
- ₹16,801.43
- Adjusted to clear the balance exactly
| Year | Principal paid | Interest paid | Total paid | Closing balance |
|---|---|---|---|---|
| Year 1 | ₹1,31,234 | ₹70,383 | ₹2,01,618 | ₹6,68,766 |
| Year 2 | ₹1,44,259 | ₹57,359 | ₹2,01,618 | ₹5,24,506 |
| Year 3 | ₹1,58,577 | ₹43,041 | ₹2,01,618 | ₹3,65,930 |
| Year 4 | ₹1,74,315 | ₹27,303 | ₹2,01,618 | ₹1,91,615 |
| Year 5 | ₹1,91,615 | ₹10,003 | ₹2,01,618 | ₹0 |
Estimates only, on a fixed reducing-balance rate. Actual instalments vary with the lender’s rounding, processing fees, insurance and any rate reset — always check the sanction letter.
Estimated from the numbers you entered — not a projection of guaranteed returns.
About this calculator
A car loan sits between a home loan and a personal loan: secured against the vehicle, so the rate is moderate, but the tenure rarely runs past seven years. Enter the amount actually financed — the on-road price less whatever you pay upfront.
Formula
- EMI = P × i × (1 + i)^n ÷ ((1 + i)^n − 1)
- P = loan amount, i = annual rate ÷ 12 ÷ 100, n = tenure in months
- When i = 0 the formula collapses to EMI = P ÷ n
- Interest for a month = outstanding balance × i; the rest of the EMI reduces the balance
Frequently asked questions
Should I enter the on-road price or the loan amount?
The loan amount — the on-road price minus your down payment and any exchange value. Interest is charged only on what the lender actually funds.
Does a bigger down payment help?
It cuts the amount financed, so both the EMI and the total interest fall proportionally. Run the calculator twice with different loan amounts to see the gap.
What about the 0% or subvented schemes dealers advertise?
Set the rate to 0 and the calculator simply splits the amount across the tenure. Read the fine print, though — subvented schemes often recover the cost through a higher vehicle price or a processing fee.