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Home > Finance Tool > Car Loan Emi Calculator

car loan EMI calculator

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Get Lowest Rate Instantly With Our Car Loan EMI Calculator

Equated Monthly Installments (EMIs) are the monthly payments you make in order to pay off your car loan. On a specific date every month, you will need to pay your car loan EMI. Your car loan EMI depends upon your loan amount, interest rate and loan tenure. Use the car loan EMI calculator below to instantly get the lowest car loan EMI quotes from HDFC Bank, Axis Bank & other leading banks.

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Use Car Loan EMI Calculator below or Get a Customized Car Loan Quote Now

 

Car Loan Emi Calculator Overview

Thinking of buying your dream Car and planning to take a Car Loan? Start your Car Loan journey with BankBazaar.com Car Loan EMI Calculator. Car Loan Interest rates generally start as low as 10.50% and you can take a car loan for 1 to 7 years. Generally banks offer 80% to 90% of loan on the Ex-Showroom price of your Car.

Use our Car loan calculator to calculate your Car Loan EMI and also get best car loan offers from top banks in India and Apply Online.

How it works?
  • Loan Amount: Enter the Loan amount using the slider or the edit box you wish to borrow for your Car. Always try to make maximum down payment to reduce the loan burden.
  • Interest Rate: This is the Interest rate that is charged on the money borrowed. This rate is monthly reducing balance.
  • Tenure: Select the period for which you wish to take the Car Loan. Generally car loan tenures range from 1 to 7 years.
  • Processing Fees: Many banks charge a processing fee at the time of disbursing a car loan. Processing fees typically vary between 0.1% to 1% of the loan amount.

Results Overview:
  • EMI: By entering the four fields you can see your monthly EMI which you have to pay to the lender to pay off your car loan. Based on your loan EMI output you can check your car loan eligibility in real time at BankBazaar.com. Based on your eligibility BankBazaar will show you customized car loan offers from various banks. You can then select the best offer and apply online.
  • Break-up of your total amount payable: The EMI Calculator tool gives you the total car loan amount payable to the lender. Your total loan amount payable is the sum of your loan amount (Principal), Interest payable and processing fees.

Amortization Table: Gives you a monthly break-up of your car loan payment. You can see the following columns under the Amortization Table:
  • Starting Balance: The starting balance of any given period corresponds to the principal amount that is owed to the bank at the beginning of that period.
  • Interest Paid: This is the portion of your monthly payment that is applied towards interest. This portion will keep reducing each successive month as the car loan matures. The rest of your monthly payment is applied towards the car loan principal.
  • Principal Paid: This is the portion of your monthly payment that is applied towards the loan principal. This portion will keep increasing each month as the loan matures. The rest of your monthly payment is applied towards interest.
  • Ending Balance: The ending balance of any given period corresponds to the principal amount that is owed to the Bank at the end of that period.
  • You can switch to Annual view of your car loan amortization.