Financial Planning Tool

Car Loan EMI Calculator

Accurate monthly repayment estimations for your vehicle purchase. Compare 14.5% Reducing Rate and 8.5% Flat Rate with live breakdown.

Loan Amount

₹

₹1 Lakh ₹50 Lakh

Interest Rate (% p.a.)

%

7.0% p.a. 24.0% p.a.

Loan Tenure (Years)

Yrs

1 Year (12m) 7 Years (84m)

Estimated Monthly EMI

₹11,768

Monthly instalments based on selected rate methodology

Principal Amount ₹5,00,000

Total Estimated Interest ₹2,06,066

Total Repayment Amount ₹7,06,066

Principal: 71% Interest: 29%

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This calculator provides an illustrative estimate only. Actual repayment amounts, interest, fees and applicable terms may vary depending on lender assessment.

How the Calculation Works

Reducing Rate Formula:

EMI = P × r × (1 + r)^n ÷ ((1 + r)^n - 1)

Where P is the principal loan amount, r is the monthly interest rate (Annual rate ÷ 1200), and n is the number of monthly instalments.

Flat Rate Formula:

Total Interest = P × (Annual Rate ÷ 100) × Tenure in Years
Monthly EMI = (P + Total Interest) ÷ Total Months

Disclaimer: Indicative calculation only. Lending terms, processing fees, documentation charges, and loan approvals are determined solely by financial institutions.