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Car Loan EMI Calculator
Check the monthly EMI of a new or used car loan.
About this calculator
This car loan calculator helps you pick a down payment and tenure that fit your budget. EMI = P × r × (1+r)n ÷ ((1+r)n − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of months. For example, a loan of ₹20 lakh at 8.5% for 20 years has an EMI of about ₹17,356.
Results are estimates for information only. Please confirm important decisions with a qualified professional.
Frequently asked questions
How is the car loan EMI calculated?
The EMI depends on the loan amount, interest rate and tenure. A longer tenure lowers the EMI but increases the total interest you pay.
Does this include processing fees?
No. Processing fees, insurance and other charges are not included. Ask your bank for the full cost.