Car Loan EMI Calculator India 2026
Calculate auto loan EMI, total interest & amortization — with on-road price estimator
Loan Details
Monthly EMI
₹12,310
Total Interest
₹1.39 L
Total Payment
₹9.39 L
💰 Total Cost Breakdown
📊 Yearly Amortization Schedule
Principal vs interest component per year
📋 Amortization Details
| Year | Principal Paid | Interest Paid | Balance |
|---|---|---|---|
| Y1 | ₹1,00,577 | ₹47,142 | ₹4,99,423 |
| Y2 | ₹1,09,468 | ₹38,251 | ₹3,89,955 |
| Y3 | ₹1,19,144 | ₹28,576 | ₹2,70,811 |
| Y4 | ₹1,29,675 | ₹18,044 | ₹1,41,137 |
| Y5 | ₹1,41,137 | ₹6,582 | ₹0 |
⚡ Compare Loan Tenures
3 Years
₹18,941/mo
Interest: ₹81,859
5 Years
₹12,310/mo
Interest: ₹1.39 L
7 Years
₹9,502/mo
Interest: ₹1.98 L
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📖 Learn More About Car Loan EMI Calculator India 2026
Car Loan Calculator India — Free Auto Loan EMI Calculator 2026
Calculate your car loan EMI, total interest payable, and full amortization schedule instantly. Works for all lenders — SBI, HDFC, ICICI, Bajaj Finserv, Mahindra Finance, and more.
On-Road Price vs Ex-Showroom Price
The ex-showroom price is what the manufacturer charges. On-road price adds RTO registration (6–15%), first-year insurance (3–5%), and handling charges. Always factor in on-road price when budgeting — it can be 15–25% more than ex-showroom.
Tips to Reduce Car Loan EMI
1) Increase down payment to reduce principal. 2) Opt for longer tenure (reduces EMI but increases total interest). 3) Maintain CIBIL score above 750 for best rates. 4) Compare banks before accepting dealer financing — it's often not the cheapest.
Frequently Asked Questions
How is car loan EMI calculated?
EMI = [P × R × (1+R)^N] / [(1+R)^N – 1], where P = loan principal, R = monthly interest rate, N = tenure in months. As you pay EMIs, more goes towards principal over time.
What is a good interest rate for a car loan?
In India, car loan rates range from 7.5% to 13% p.a. Banks like SBI offer 8.75–9.45%, HDFC 8.75–9.50%. NBFCs like Bajaj Finserv may charge 10–14%. Maintain a CIBIL score above 750 for best rates.
What costs are included in on-road price?
On-road price = Ex-showroom price + RTO Registration (6–15% depending on state) + Insurance (3–5% annually) + Dealer handling charges + Accessories. Mumbai registration is ~11%, Delhi ~10%, Karnataka ~13%.
What is a good down payment for a car?
Aim for 20–30% down payment. This reduces your EMI burden, total interest paid, and improves loan eligibility. A ₹10L car ideally needs ₹2–3L down.
Can I prepay my car loan?
Yes! Most banks allow prepayment after 6–12 EMIs with a 2–3% foreclosure charge. Prepaying early saves significant interest. Floating rate loans may have zero prepayment penalty.