Car Loan EMI Calculator
Plan your car purchase with instant monthly EMI estimates, down payment options, interest rate comparisons, and complete payment breakdown.
Home Loan Calculator
Calculate monthly installments with down payment & tax benefits
Simple interest accrued during moratorium: ₹10,00,000 (Added to loan principal before EMI repayment starts).
Breakdown Visual
Principal vs InterestHome loan borrowers can claim tax relief on interest paid and principal repayments under local tax codes (e.g., Sec 24b & 80C in India).
Amortization Schedule
Year-by-year payment timeline breaking down principal vs interest decay
| Period | Opening Balance | EMI Paid | Principal | Interest | Closing Balance |
|---|
Side-by-Side Loan Comparison
Compare interest rates, tenure variations, and see exactly how much you save
Offer B saves you more!
By choosing Offer B (8.25% vs 8.50%), your EMI decreases by ₹788/mo and total interest savings is:
Prepayment Impact Simulator
See how adding extra monthly or annual payments slashes your loan tenure and interest burden
Loan Eligibility Checker
Calculates your maximum eligible loan amount based on income and standard 50% FOIR (Fixed Obligation to Income Ratio)
Frequently Asked Questions
How is Loan EMI calculated mathematically?▼
Loan EMI is calculated using the standard reducing balance formula: E = P × r × (1+r)^n / ((1+r)^n - 1), where P is Principal Loan Amount, r is monthly interest rate (annual rate divided by 1200), and n is total number of monthly installments.
What is the difference between Floating and Fixed Interest Rates?▼
Fixed interest rates remain constant throughout your loan tenure. Floating interest rates are linked to central bank benchmark rates and fluctuate over time, affecting either your monthly EMI amount or loan tenure.
Are there prepayment penalties on loans?▼
Most modern consumer protection rules (including RBI guidelines) prohibit lenders from charging prepayment penalties on floating interest rate home loans taken by individual borrowers.
How does global currency selection work?▼
You can select your native currency (INR, USD, EUR, GBP, AUD, CAD, AED, SGD, JPY) in the top header. The calculator formats figures according to local currency standards.
Car & Vehicle Loan EMI Calculation Guide
Buying a new or pre-owned car is an exciting milestone. Utilizing an online Car Loan EMI calculator allows you to evaluate your affordable budget before visiting the dealership, ensuring you get the best deal on interest rates and loan tenures.
On-Road vs Ex-Showroom
Lenders usually finance up to 90%-100% of the ex-showroom price or 80-85% of on-road cost including registration & insurance.
EV Concessions
Many banks offer discounted interest rates (0.5% - 1% lower) for Electric Vehicle (EV) financing.
Depreciation Aware
Cars depreciate quickly. Aim for a shorter tenure (3 to 5 years) to avoid owing more than the car's resale value.