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Car Loan EMI Calculator 2026: Monthly EMI & Total Interest
Calculate your Car Loan EMI instantly. Example: ₹8 Lakh at 9.5% for 5 years = ₹16,801 per month. Free, with a year-by-year schedule.
₹8 Lakh
Rates shown are examples. Check your bank's current rate.
Monthly EMI
₹16,801
- Principal: ₹8,00,000
- Total interest: ₹2,08,089
- Total payment: ₹10,08,089
EMI on a ₹8 Lakh Car Loan at 9.5%
| Tenure | EMI | Total interest |
|---|---|---|
| 3 years | ₹25,626 | ₹1,22,549 |
| 5 years | ₹16,801 | ₹2,08,089 |
💡 Good to know
Car loans are usually 3–7 years. A bigger down payment lowers both EMI and total interest.
Questions people ask
How is EMI calculated?+
EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is the loan amount, r the monthly interest rate (annual rate ÷ 12 ÷ 100) and n the number of months.
How can I reduce my EMI or total interest?+
A longer tenure lowers EMI but increases total interest. A lower rate, bigger down payment or part-prepayments reduce total interest the most.
Is this EMI calculator accurate?+
It uses the standard reducing-balance formula used by Indian banks. Your bank's final EMI may differ slightly due to fees, rounding or the date of disbursement.