Car Loan EMI Calculator India 2025
Calculate Car Loan EMI Online – Free & Instant Car Finance Calculator
Use our car loan EMI calculator to find your monthly installment for new car loans, used car loans, and auto financing. Get accurate EMI calculations for all banks in India including SBI, HDFC, ICICI, Axis Bank & more.
Enter Car Loan Details
Calculate your car loan EMI by entering loan amount, interest rate, and tenure
Your Monthly EMI
Monthly installment for 5 years car loan
Total 60 monthly payments of ₹9,560
Complete Loan Breakdown
Principal vs Interest Breakdown
How to Use Car Loan EMI Calculator?
Our car loan EMI calculator India helps you calculate your monthly car loan installment in seconds. Simply enter your car’s on-road price, down payment amount, loan interest rate, and repayment tenure to get instant EMI calculation. This online car finance calculator works for all types of vehicle loans including new car loans, used car loans, and refinance options.
Works for all banks – SBI, HDFC, ICICI, Axis Bank, Kotak Mahindra
Calculate EMI for new car and second hand car loans
Instant results with accurate EMI formula calculation
Free online tool – no registration required
Car Loan EMI Calculation Formula Explained
EMI = [P × R × (1+R)^N] / [(1+R)^N-1]
P = Principal loan amount (Car price – Down payment)
R = Monthly interest rate (Annual rate ÷ 12 ÷ 100)
N = Total number of monthly installments (Years × 12)
Understanding the car loan EMI formula helps you plan your auto financing better. The EMI amount depends on three factors: loan amount, interest rate, and loan tenure. Higher down payment reduces your principal amount and lowers monthly EMI. Longer tenure reduces EMI but increases total interest paid over the loan period.
Benefits of Using Car EMI Calculator Online
Compare Different Car Loan Options
Use our calculator to compare EMIs across different loan amounts, tenures, and interest rates. Find the best car loan deal that fits your monthly budget before applying.
Plan Your Car Purchase Budget
Calculate how much car you can afford by checking EMI amounts for different vehicle prices. Helps you make informed decisions about car buying.
Understand Total Interest Cost
See complete breakdown of principal vs interest amount. Know exactly how much extra you’ll pay in interest over the entire loan tenure period.
Negotiate Better Loan Terms
Armed with EMI calculations, negotiate with banks for better interest rates and loan terms. Compare offers from multiple lenders easily.
Car Loan Interest Rates in India 2025
Current car loan interest rates in India range from 7% to 15% per annum depending on the lender, your credit score, loan amount, and vehicle type. New car loans typically have lower rates (7.5% – 10%) compared to used car loans (9% – 15%). Public sector banks like SBI offer competitive rates starting at 8.7%, while private banks like HDFC and ICICI start from 9.2%. NBFCs may charge higher rates but offer faster approval.
Factors Affecting Car Loan Interest Rate:
- Credit score (Higher score = Lower interest rate)
- Down payment amount (Higher down payment = Better rates)
- Loan tenure (Shorter tenure may get better rates)
- Employment type (Salaried vs Self-employed)
- Monthly income and existing EMI obligations
- Vehicle age and condition (New vs Used car)
Frequently Asked Questions – Car Loan EMI Calculator
What is car loan EMI?
EMI (Equated Monthly Installment) is the fixed amount you pay every month to repay your car loan. It includes both principal and interest components. Use our car EMI calculator to find your exact monthly payment amount.
How accurate is this car loan calculator?
Our calculator uses the standard reducing balance EMI formula used by all Indian banks and NBFCs. The results are 100% accurate for EMI calculation. However, actual loan offer may include processing fees and other charges not calculated here.
What is the maximum car loan tenure in India?
Most banks offer car loans for up to 7 years (84 months). Some lenders may extend up to 8 years for new cars. Used car loans typically have shorter tenure of 5 years maximum. Longer tenure reduces EMI but increases total interest cost.
How much down payment is required for car loan?
Banks typically finance 80-90% of the car’s on-road price. You need to pay 10-20% as down payment. Higher down payment reduces your loan amount and monthly EMI. It also improves your chances of loan approval and better interest rates.
Ready to Buy Your Dream Car?
Use our free car loan EMI calculator to plan your purchase. Calculate EMI for any car loan amount and get instant results!
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