Car Loan EMI Calculator

Calculate the car loan EMI by using BankBazaar’s Car Loan EMI Calculator. You will need to enter the loan amount, tenure, interest rate, and click on ‘Calculate’ to check the EMIs.

Loan Amount
500000
Tenure
60
Loan Amount:
Tenure in Months:
Interest Rate in %:
Processing Fee: (% of loan amount)
Would you like to make Pre-payments?
Pre-payment Frequency
Pre-payment starts in
Pre-payment amount
Loan Completion Month
Pre-payment Fee %
Pre-payment Applies to

Your Monthly Car Loan EMI: Rs 10,624

Monthly amount paid to your Car Loan provider

Break-up of all total amount payable
Loan Amount
500000Rs
Total Interest Due
1,37,411Rs
Processing Fee
0Rs
Loan Amount Via EMI
10,624Rs
Loan Amount Prepaid
0Rs
Total Interest
0Rs
Processing Fee
0Rs
Pre-payment Fee
10,624Rs
Total Amount Payable
0Rs
Your loan details as specified by you
Loan Amount
500000Rs
Tenure
5 Years
Interest Rate
10%
Processing Fee
0
Pre-payment
10,624Rs
CT
Is your Credit Score good enough for getting a loan or card?

Your Repayment Details (Yearly/Monthly)

Your debt repayment schedule in regular instalments over a period of time.

Tab amortization
Principal Paid Interest Paid Outstanding Loan BalanceO/S Balance(Without Pre-payment) O/S Balance(With Pre-payment)
Year Principal Paid(A)1 Interest Paid(B) Total Payment (A+B) Outstanding Loan Balance Pre-payment
1 Rupee image4,977 Rupee image13,958 Rupee image18,935 Rupee image24,95,023
Dec Rupee image4,977 Rupee image13,958 Rupee image18,935 Rupee image24,95,023
2 Rupee image61,929 Rupee image1,65,289 Rupee image2,27,218 Rupee image24,33,093
Jan Rupee image5,004 Rupee image13,931 Rupee image18,935 Rupee image24,90,019
Feb Rupee image5,032 Rupee image13,903 Rupee image18,935 Rupee image24,84,987
Mar Rupee image5,060 Rupee image13,875 Rupee image18,935 Rupee image24,79,927
Apr Rupee image5,089 Rupee image13,846 Rupee image18,935 Rupee image24,74,838
May Rupee image5,117 Rupee image13,818 Rupee image18,935 Rupee image24,69,721
Jun Rupee image5,146 Rupee image13,789 Rupee image18,935 Rupee image24,64,575
July Rupee image5,174 Rupee image13,761 Rupee image18,935 Rupee image24,59,401
Aug Rupee image5,203 Rupee image13,732 Rupee image18,935 Rupee image24,54,198
Sep Rupee image5,232 Rupee image13,703 Rupee image18,935 Rupee image24,48,966
Oct Rupee image5,261 Rupee image13,673 Rupee image18,934 Rupee image24,43,704
Nov Rupee image5,291 Rupee image13,644 Rupee image18,935 Rupee image24,38,413
Dec Rupee image5,320 Rupee image13,614 Rupee image18,934 Rupee image24,33,093
3 Rupee image66,210 Rupee image1,61,009 Rupee image2,27,219 Rupee image23,66,883
Jan Rupee image5,350 Rupee image13,585 Rupee image18,935 Rupee image24,27,743
Feb Rupee image5,380 Rupee image13,555 Rupee image18,935 Rupee image24,22,363
Mar Rupee image5,410 Rupee image13,525 Rupee image18,935 Rupee image24,16,953
Apr Rupee image5,440 Rupee image13,495 Rupee image18,935 Rupee image24,11,513
May Rupee image5,471 Rupee image13,464 Rupee image18,935 Rupee image24,06,042
Jun Rupee image5,501 Rupee image13,434 Rupee image18,935 Rupee image24,00,541
July Rupee image5,532 Rupee image13,403 Rupee image18,935 Rupee image23,95,009
Aug Rupee image5,563 Rupee image13,372 Rupee image18,935 Rupee image23,89,446
Sep Rupee image5,594 Rupee image13,341 Rupee image18,935 Rupee image23,83,853
Oct Rupee image5,625 Rupee image13,310 Rupee image18,935 Rupee image23,78,228
Nov Rupee image5,656 Rupee image13,278 Rupee image18,934 Rupee image23,72,571
Dec Rupee image5,688 Rupee image13,247 Rupee image18,935 Rupee image23,66,883
4 Rupee image70,785 Rupee image1,56,435 Rupee image2,27,220 Rupee image22,96,099
Jan Rupee image5,720 Rupee image13,215 Rupee image18,935 Rupee image23,61,163
Feb Rupee image5,752 Rupee image13,183 Rupee image18,935 Rupee image23,55,412
Mar Rupee image5,784 Rupee image13,151 Rupee image18,935 Rupee image23,49,628
Apr Rupee image5,816 Rupee image13,119 Rupee image18,935 Rupee image23,43,812
May Rupee image5,849 Rupee image13,086 Rupee image18,935 Rupee image23,37,963
Jun Rupee image5,881 Rupee image13,054 Rupee image18,935 Rupee image23,32,082
July Rupee image5,914 Rupee image13,021 Rupee image18,935 Rupee image23,26,168
Aug Rupee image5,947 Rupee image12,988 Rupee image18,935 Rupee image23,20,221
Sep Rupee image5,980 Rupee image12,955 Rupee image18,935 Rupee image23,14,241
Oct Rupee image6,014 Rupee image12,921 Rupee image18,935 Rupee image23,08,227
Nov Rupee image6,047 Rupee image12,888 Rupee image18,935 Rupee image23,02,180
Dec Rupee image6,081 Rupee image12,854 Rupee image18,935 Rupee image22,96,099
5 Rupee image75,676 Rupee image1,51,543 Rupee image2,27,219 Rupee image22,20,423
Jan Rupee image6,115 Rupee image12,820 Rupee image18,935 Rupee image22,89,984
Feb Rupee image6,149 Rupee image12,786 Rupee image18,935 Rupee image22,83,835
Mar Rupee image6,183 Rupee image12,751 Rupee image18,934 Rupee image22,77,651
Apr Rupee image6,218 Rupee image12,717 Rupee image18,935 Rupee image22,71,433
May Rupee image6,253 Rupee image12,682 Rupee image18,935 Rupee image22,65,180
Jun Rupee image6,288 Rupee image12,647 Rupee image18,935 Rupee image22,58,893
July Rupee image6,323 Rupee image12,612 Rupee image18,935 Rupee image22,52,570
Aug Rupee image6,358 Rupee image12,577 Rupee image18,935 Rupee image22,46,212
Sep Rupee image6,394 Rupee image12,541 Rupee image18,935 Rupee image22,39,819
Oct Rupee image6,429 Rupee image12,506 Rupee image18,935 Rupee image22,33,389
Nov Rupee image6,465 Rupee image12,470 Rupee image18,935 Rupee image22,26,924
Dec Rupee image6,501 Rupee image12,434 Rupee image18,935 Rupee image22,20,423
6 Rupee image80,904 Rupee image1,46,313 Rupee image2,27,217 Rupee image21,39,519
Jan Rupee image6,537 Rupee image12,397 Rupee image18,934 Rupee image22,13,886
Feb Rupee image6,574 Rupee image12,361 Rupee image18,935 Rupee image22,07,312
Mar Rupee image6,611 Rupee image12,324 Rupee image18,935 Rupee image22,00,701
Apr Rupee image6,648 Rupee image12,287 Rupee image18,935 Rupee image21,94,053
May Rupee image6,685 Rupee image12,250 Rupee image18,935 Rupee image21,87,369
Jun Rupee image6,722 Rupee image12,213 Rupee image18,935 Rupee image21,80,647
July Rupee image6,760 Rupee image12,175 Rupee image18,935 Rupee image21,73,887
Aug Rupee image6,797 Rupee image12,138 Rupee image18,935 Rupee image21,67,090
Sep Rupee image6,835 Rupee image12,100 Rupee image18,935 Rupee image21,60,254
Oct Rupee image6,873 Rupee image12,061 Rupee image18,934 Rupee image21,53,381
Nov Rupee image6,912 Rupee image12,023 Rupee image18,935 Rupee image21,46,469
Dec Rupee image6,950 Rupee image11,984 Rupee image18,934 Rupee image21,39,519
7 Rupee image86,495 Rupee image1,40,722 Rupee image2,27,217 Rupee image20,53,024
Jan Rupee image6,989 Rupee image11,946 Rupee image18,935 Rupee image21,32,530
Feb Rupee image7,028 Rupee image11,907 Rupee image18,935 Rupee image21,25,501
Mar Rupee image7,067 Rupee image11,867 Rupee image18,934 Rupee image21,18,434
Apr Rupee image7,107 Rupee image11,828 Rupee image18,935 Rupee image21,11,327
May Rupee image7,147 Rupee image11,788 Rupee image18,935 Rupee image21,04,180
Jun Rupee image7,187 Rupee image11,748 Rupee image18,935 Rupee image20,96,994
July Rupee image7,227 Rupee image11,708 Rupee image18,935 Rupee image20,89,767
Aug Rupee image7,267 Rupee image11,668 Rupee image18,935 Rupee image20,82,500
Sep Rupee image7,308 Rupee image11,627 Rupee image18,935 Rupee image20,75,193
Oct Rupee image7,348 Rupee image11,586 Rupee image18,934 Rupee image20,67,844
Nov Rupee image7,389 Rupee image11,545 Rupee image18,934 Rupee image20,60,455
Dec Rupee image7,431 Rupee image11,504 Rupee image18,935 Rupee image20,53,024
8 Rupee image92,470 Rupee image1,34,748 Rupee image2,27,218 Rupee image19,60,553
Jan Rupee image7,472 Rupee image11,463 Rupee image18,935 Rupee image20,45,552
Feb Rupee image7,514 Rupee image11,421 Rupee image18,935 Rupee image20,38,038
Mar Rupee image7,556 Rupee image11,379 Rupee image18,935 Rupee image20,30,482
Apr Rupee image7,598 Rupee image11,337 Rupee image18,935 Rupee image20,22,884
May Rupee image7,640 Rupee image11,294 Rupee image18,934 Rupee image20,15,244
Jun Rupee image7,683 Rupee image11,252 Rupee image18,935 Rupee image20,07,561
July Rupee image7,726 Rupee image11,209 Rupee image18,935 Rupee image19,99,835
Aug Rupee image7,769 Rupee image11,166 Rupee image18,935 Rupee image19,92,066
Sep Rupee image7,812 Rupee image11,122 Rupee image18,934 Rupee image19,84,253
Oct Rupee image7,856 Rupee image11,079 Rupee image18,935 Rupee image19,76,397
Nov Rupee image7,900 Rupee image11,035 Rupee image18,935 Rupee image19,68,497
Dec Rupee image7,944 Rupee image10,991 Rupee image18,935 Rupee image19,60,553
9 Rupee image98,860 Rupee image1,28,359 Rupee image2,27,219 Rupee image18,61,693
Jan Rupee image7,988 Rupee image10,946 Rupee image18,934 Rupee image19,52,565
Feb Rupee image8,033 Rupee image10,902 Rupee image18,935 Rupee image19,44,532
Mar Rupee image8,078 Rupee image10,857 Rupee image18,935 Rupee image19,36,454
Apr Rupee image8,123 Rupee image10,812 Rupee image18,935 Rupee image19,28,331
May Rupee image8,168 Rupee image10,767 Rupee image18,935 Rupee image19,20,162
Jun Rupee image8,214 Rupee image10,721 Rupee image18,935 Rupee image19,11,949
July Rupee image8,260 Rupee image10,675 Rupee image18,935 Rupee image19,03,689
Aug Rupee image8,306 Rupee image10,629 Rupee image18,935 Rupee image18,95,383
Sep Rupee image8,352 Rupee image10,583 Rupee image18,935 Rupee image18,87,030
Oct Rupee image8,399 Rupee image10,536 Rupee image18,935 Rupee image18,78,632
Nov Rupee image8,446 Rupee image10,489 Rupee image18,935 Rupee image18,70,186
Dec Rupee image8,493 Rupee image10,442 Rupee image18,935 Rupee image18,61,693
10 Rupee image1,05,691 Rupee image1,21,526 Rupee image2,27,217 Rupee image17,56,001
Jan Rupee image8,540 Rupee image10,394 Rupee image18,934 Rupee image18,53,152
Feb Rupee image8,588 Rupee image10,347 Rupee image18,935 Rupee image18,44,564
Mar Rupee image8,636 Rupee image10,299 Rupee image18,935 Rupee image18,35,928
Apr Rupee image8,684 Rupee image10,251 Rupee image18,935 Rupee image18,27,244
May Rupee image8,733 Rupee image10,202 Rupee image18,935 Rupee image18,18,511
Jun Rupee image8,782 Rupee image10,153 Rupee image18,935 Rupee image18,09,730
July Rupee image8,831 Rupee image10,104 Rupee image18,935 Rupee image18,00,899
Aug Rupee image8,880 Rupee image10,055 Rupee image18,935 Rupee image17,92,019
Sep Rupee image8,929 Rupee image10,005 Rupee image18,934 Rupee image17,83,090
Oct Rupee image8,979 Rupee image9,956 Rupee image18,935 Rupee image17,74,111
Nov Rupee image9,029 Rupee image9,905 Rupee image18,934 Rupee image17,65,081
Dec Rupee image9,080 Rupee image9,855 Rupee image18,935 Rupee image17,56,001
11 Rupee image1,12,993 Rupee image1,14,224 Rupee image2,27,217 Rupee image16,43,007
Jan Rupee image9,131 Rupee image9,804 Rupee image18,935 Rupee image17,46,871
Feb Rupee image9,181 Rupee image9,753 Rupee image18,934 Rupee image17,37,689
Mar Rupee image9,233 Rupee image9,702 Rupee image18,935 Rupee image17,28,457
Apr Rupee image9,284 Rupee image9,651 Rupee image18,935 Rupee image17,19,172
May Rupee image9,336 Rupee image9,599 Rupee image18,935 Rupee image17,09,836
Jun Rupee image9,388 Rupee image9,547 Rupee image18,935 Rupee image17,00,448
July Rupee image9,441 Rupee image9,494 Rupee image18,935 Rupee image16,91,007
Aug Rupee image9,493 Rupee image9,441 Rupee image18,934 Rupee image16,81,514
Sep Rupee image9,546 Rupee image9,388 Rupee image18,934 Rupee image16,71,967
Oct Rupee image9,600 Rupee image9,335 Rupee image18,935 Rupee image16,62,368
Nov Rupee image9,653 Rupee image9,282 Rupee image18,935 Rupee image16,52,714
Dec Rupee image9,707 Rupee image9,228 Rupee image18,935 Rupee image16,43,007
12 Rupee image1,20,801 Rupee image1,06,417 Rupee image2,27,218 Rupee image15,22,206
Jan Rupee image9,761 Rupee image9,173 Rupee image18,934 Rupee image16,33,246
Feb Rupee image9,816 Rupee image9,119 Rupee image18,935 Rupee image16,23,430
Mar Rupee image9,871 Rupee image9,064 Rupee image18,935 Rupee image16,13,559
Apr Rupee image9,926 Rupee image9,009 Rupee image18,935 Rupee image16,03,633
May Rupee image9,981 Rupee image8,954 Rupee image18,935 Rupee image15,93,652
Jun Rupee image10,037 Rupee image8,898 Rupee image18,935 Rupee image15,83,615
July Rupee image10,093 Rupee image8,842 Rupee image18,935 Rupee image15,73,522
Aug Rupee image10,149 Rupee image8,785 Rupee image18,934 Rupee image15,63,373
Sep Rupee image10,206 Rupee image8,729 Rupee image18,935 Rupee image15,53,167
Oct Rupee image10,263 Rupee image8,672 Rupee image18,935 Rupee image15,42,904
Nov Rupee image10,320 Rupee image8,615 Rupee image18,935 Rupee image15,32,583
Dec Rupee image10,378 Rupee image8,557 Rupee image18,935 Rupee image15,22,206
13 Rupee image1,29,148 Rupee image98,069 Rupee image2,27,217 Rupee image13,93,057
Jan Rupee image10,436 Rupee image8,499 Rupee image18,935 Rupee image15,11,770
Feb Rupee image10,494 Rupee image8,441 Rupee image18,935 Rupee image15,01,276
Mar Rupee image10,553 Rupee image8,382 Rupee image18,935 Rupee image14,90,723
Apr Rupee image10,612 Rupee image8,323 Rupee image18,935 Rupee image14,80,111
May Rupee image10,671 Rupee image8,264 Rupee image18,935 Rupee image14,69,440
Jun Rupee image10,730 Rupee image8,204 Rupee image18,934 Rupee image14,58,710
July Rupee image10,790 Rupee image8,144 Rupee image18,934 Rupee image14,47,919
Aug Rupee image10,851 Rupee image8,084 Rupee image18,935 Rupee image14,37,069
Sep Rupee image10,911 Rupee image8,024 Rupee image18,935 Rupee image14,26,158
Oct Rupee image10,972 Rupee image7,963 Rupee image18,935 Rupee image14,15,185
Nov Rupee image11,033 Rupee image7,901 Rupee image18,934 Rupee image14,04,152
Dec Rupee image11,095 Rupee image7,840 Rupee image18,935 Rupee image13,93,057
14 Rupee image1,38,072 Rupee image89,147 Rupee image2,27,219 Rupee image12,54,985
Jan Rupee image11,157 Rupee image7,778 Rupee image18,935 Rupee image13,81,900
Feb Rupee image11,219 Rupee image7,716 Rupee image18,935 Rupee image13,70,681
Mar Rupee image11,282 Rupee image7,653 Rupee image18,935 Rupee image13,59,399
Apr Rupee image11,345 Rupee image7,590 Rupee image18,935 Rupee image13,48,054
May Rupee image11,408 Rupee image7,527 Rupee image18,935 Rupee image13,36,646
Jun Rupee image11,472 Rupee image7,463 Rupee image18,935 Rupee image13,25,174
July Rupee image11,536 Rupee image7,399 Rupee image18,935 Rupee image13,13,638
Aug Rupee image11,600 Rupee image7,334 Rupee image18,934 Rupee image13,02,037
Sep Rupee image11,665 Rupee image7,270 Rupee image18,935 Rupee image12,90,372
Oct Rupee image11,730 Rupee image7,205 Rupee image18,935 Rupee image12,78,642
Nov Rupee image11,796 Rupee image7,139 Rupee image18,935 Rupee image12,66,846
Dec Rupee image11,862 Rupee image7,073 Rupee image18,935 Rupee image12,54,985
15 Rupee image1,47,612 Rupee image79,605 Rupee image2,27,217 Rupee image11,07,372
Jan Rupee image11,928 Rupee image7,007 Rupee image18,935 Rupee image12,43,057
Feb Rupee image11,994 Rupee image6,940 Rupee image18,934 Rupee image12,31,062
Mar Rupee image12,061 Rupee image6,873 Rupee image18,934 Rupee image12,19,001
Apr Rupee image12,129 Rupee image6,806 Rupee image18,935 Rupee image12,06,872
May Rupee image12,196 Rupee image6,738 Rupee image18,934 Rupee image11,94,676
Jun Rupee image12,265 Rupee image6,670 Rupee image18,935 Rupee image11,82,411
July Rupee image12,333 Rupee image6,602 Rupee image18,935 Rupee image11,70,078
Aug Rupee image12,402 Rupee image6,533 Rupee image18,935 Rupee image11,57,676
Sep Rupee image12,471 Rupee image6,464 Rupee image18,935 Rupee image11,45,205
Oct Rupee image12,541 Rupee image6,394 Rupee image18,935 Rupee image11,32,664
Nov Rupee image12,611 Rupee image6,324 Rupee image18,935 Rupee image11,20,053
Dec Rupee image12,681 Rupee image6,254 Rupee image18,935 Rupee image11,07,372
16 Rupee image1,57,811 Rupee image69,408 Rupee image2,27,219 Rupee image9,49,560
Jan Rupee image12,752 Rupee image6,183 Rupee image18,935 Rupee image10,94,620
Feb Rupee image12,823 Rupee image6,112 Rupee image18,935 Rupee image10,81,797
Mar Rupee image12,895 Rupee image6,040 Rupee image18,935 Rupee image10,68,902
Apr Rupee image12,967 Rupee image5,968 Rupee image18,935 Rupee image10,55,935
May Rupee image13,039 Rupee image5,896 Rupee image18,935 Rupee image10,42,896
Jun Rupee image13,112 Rupee image5,823 Rupee image18,935 Rupee image10,29,784
July Rupee image13,185 Rupee image5,750 Rupee image18,935 Rupee image10,16,599
Aug Rupee image13,259 Rupee image5,676 Rupee image18,935 Rupee image10,03,340
Sep Rupee image13,333 Rupee image5,602 Rupee image18,935 Rupee image9,90,007
Oct Rupee image13,407 Rupee image5,528 Rupee image18,935 Rupee image9,76,600
Nov Rupee image13,482 Rupee image5,453 Rupee image18,935 Rupee image9,63,118
Dec Rupee image13,557 Rupee image5,377 Rupee image18,934 Rupee image9,49,560
17 Rupee image1,68,716 Rupee image58,504 Rupee image2,27,220 Rupee image7,80,844
Jan Rupee image13,633 Rupee image5,302 Rupee image18,935 Rupee image9,35,927
Feb Rupee image13,709 Rupee image5,226 Rupee image18,935 Rupee image9,22,218
Mar Rupee image13,786 Rupee image5,149 Rupee image18,935 Rupee image9,08,432
Apr Rupee image13,863 Rupee image5,072 Rupee image18,935 Rupee image8,94,569
May Rupee image13,940 Rupee image4,995 Rupee image18,935 Rupee image8,80,629
Jun Rupee image14,018 Rupee image4,917 Rupee image18,935 Rupee image8,66,611
July Rupee image14,096 Rupee image4,839 Rupee image18,935 Rupee image8,52,515
Aug Rupee image14,175 Rupee image4,760 Rupee image18,935 Rupee image8,38,340
Sep Rupee image14,254 Rupee image4,681 Rupee image18,935 Rupee image8,24,086
Oct Rupee image14,334 Rupee image4,601 Rupee image18,935 Rupee image8,09,752
Nov Rupee image14,414 Rupee image4,521 Rupee image18,935 Rupee image7,95,338
Dec Rupee image14,494 Rupee image4,441 Rupee image18,935 Rupee image7,80,844
18 Rupee image1,80,374 Rupee image46,844 Rupee image2,27,218 Rupee image6,00,470
Jan Rupee image14,575 Rupee image4,360 Rupee image18,935 Rupee image7,66,269
Feb Rupee image14,657 Rupee image4,278 Rupee image18,935 Rupee image7,51,612
Mar Rupee image14,738 Rupee image4,197 Rupee image18,935 Rupee image7,36,874
Apr Rupee image14,821 Rupee image4,114 Rupee image18,935 Rupee image7,22,053
May Rupee image14,903 Rupee image4,031 Rupee image18,934 Rupee image7,07,150
Jun Rupee image14,987 Rupee image3,948 Rupee image18,935 Rupee image6,92,163
July Rupee image15,070 Rupee image3,865 Rupee image18,935 Rupee image6,77,093
Aug Rupee image15,154 Rupee image3,780 Rupee image18,934 Rupee image6,61,938
Sep Rupee image15,239 Rupee image3,696 Rupee image18,935 Rupee image6,46,699
Oct Rupee image15,324 Rupee image3,611 Rupee image18,935 Rupee image6,31,375
Nov Rupee image15,410 Rupee image3,525 Rupee image18,935 Rupee image6,15,966
Dec Rupee image15,496 Rupee image3,439 Rupee image18,935 Rupee image6,00,470
19 Rupee image1,92,837 Rupee image34,381 Rupee image2,27,218 Rupee image4,07,633
Jan Rupee image15,582 Rupee image3,353 Rupee image18,935 Rupee image5,84,888
Feb Rupee image15,669 Rupee image3,266 Rupee image18,935 Rupee image5,69,218
Mar Rupee image15,757 Rupee image3,178 Rupee image18,935 Rupee image5,53,462
Apr Rupee image15,845 Rupee image3,090 Rupee image18,935 Rupee image5,37,617
May Rupee image15,933 Rupee image3,002 Rupee image18,935 Rupee image5,21,684
Jun Rupee image16,022 Rupee image2,913 Rupee image18,935 Rupee image5,05,662
July Rupee image16,112 Rupee image2,823 Rupee image18,935 Rupee image4,89,550
Aug Rupee image16,202 Rupee image2,733 Rupee image18,935 Rupee image4,73,349
Sep Rupee image16,292 Rupee image2,643 Rupee image18,935 Rupee image4,57,057
Oct Rupee image16,383 Rupee image2,552 Rupee image18,935 Rupee image4,40,674
Nov Rupee image16,474 Rupee image2,460 Rupee image18,934 Rupee image4,24,199
Dec Rupee image16,566 Rupee image2,368 Rupee image18,934 Rupee image4,07,633
20 Rupee image2,06,162 Rupee image21,057 Rupee image2,27,219 Rupee image2,01,471
Jan Rupee image16,659 Rupee image2,276 Rupee image18,935 Rupee image3,90,974
Feb Rupee image16,752 Rupee image2,183 Rupee image18,935 Rupee image3,74,222
Mar Rupee image16,845 Rupee image2,089 Rupee image18,934 Rupee image3,57,377
Apr Rupee image16,940 Rupee image1,995 Rupee image18,935 Rupee image3,40,437
May Rupee image17,034 Rupee image1,901 Rupee image18,935 Rupee image3,23,403
Jun Rupee image17,129 Rupee image1,806 Rupee image18,935 Rupee image3,06,274
July Rupee image17,225 Rupee image1,710 Rupee image18,935 Rupee image2,89,049
Aug Rupee image17,321 Rupee image1,614 Rupee image18,935 Rupee image2,71,728
Sep Rupee image17,418 Rupee image1,517 Rupee image18,935 Rupee image2,54,310
Oct Rupee image17,515 Rupee image1,420 Rupee image18,935 Rupee image2,36,795
Nov Rupee image17,613 Rupee image1,322 Rupee image18,935 Rupee image2,19,183
Dec Rupee image17,711 Rupee image1,224 Rupee image18,935 Rupee image2,01,471
21 Rupee image2,01,471 Rupee image6,812 Rupee image2,08,283 Rupee image0
Jan Rupee image17,810 Rupee image1,125 Rupee image18,935 Rupee image1,83,662
Feb Rupee image17,909 Rupee image1,025 Rupee image18,934 Rupee image1,65,752
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Nowadays, it is much easier to buy your dream car due to the various car loan schemes offered by different lenders. Car loans are offered at attractive interest rates and a repayment tenure of up to 8 years.

Various banks and third-party websites offer a Car Loan EMI Calculator that allows you to calculate the Equated Monthly Instalments (EMIs) that must be paid. The Car Loan EMI calculator offered by BankBazaar is simple to use and is free. Basic details such as the repayment tenure, principal amount, and the rate of interest must be entered to calculate the EMI.

Calculation of Car Loan EMI

The table below provides you the car loan repayment schedule for a loan amount of Rs.5 lakh, EMI of 10,624, tenure of 5 years, interest rate of 10% p.a. and processing fee of 1%.

Year Principal Interest Balance
2021 Rs.81,135 Rs.46,348 Rs.4,18,866
2022 Rs.89,630 Rs.37,852 Rs.3,29,236
2023 Rs.99,017 Rs.28,468 Rs.2,30,221
2024 Rs.1,09,384 Rs.18,099 Rs.1,20,837
2025 Rs.1,20,839 Rs.6,646 0
Loan Summary
Loan Amount Rs.5,00,000
EMI Rs.10,624
Total Interest Due Rs.1,37,411
Processing Fee Rs.5,000
Total Amount Payable Rs.6,37,411

In the above example, if you make a prepayment of Rs.50,000 after paying 4 EMIs:

You will Save Rs.32,505 in total loan amount; Loan tenure will be reduced by 7 months

Without Pre-payment

Interest: Rs.1,37,411
EMI tenure: 5 years

With Pre-payment

Interest: Rs.1,09,906
EMI tenure: 4 years 5 months

You can make use of the Car Loan EMI calculator to estimate the amount you have to pay each month towards your car loan. The online EMI Calculator offered by BankBazaar will calculate the monthly instalments as well as provide you with a detailed loan repayment table presenting you with details such as the principal amount and interest amount being paid and the outstanding balance after payment of the instalment.

Process to use BankBazaar’s Car Loan EMI Calculator

The step-by-step procedure to use the Car Loan EMI calculator offered by BankBazaar is mentioned below:

    1. The calculator can be found on the top of this page. The first step would be to select the loan amount.

    2. Next, select the repayment tenure.

    3. Enter the rate of interest and the processing fee.

    4. Click on ‘Calculate’. The results will be displayed immediately.

You can check the principal amount and the interest that is being paid every year. The calculator also provides the outstanding balance at the end of every year.

How is EMI determined

The EMI for any type of loan is essentially calculated using a formula. The formula is as follows:

E = P x R x (1+R)^n / {(1+R)^n – 1}

where ‘E’ stands for the EMI you owe,

‘P’ stands for the principal amount,

‘R’ stands for the interest rate applicable to your car loan,

and ‘n’ stands for the tenure of the car loan (in months).

Fixed rate vs. Floating rate of interest

Car loans are offered at fixed as well as floating interest rates. The fixed rate will remain unchanged for the tenure of the loan but the floating rate is subject to change from time to time. The different factors that can affect interest rates include applicable taxes, liquidity, inflation, etc.

  • Fixed Rate EMI Calculation
  • Under the fixed rate EMI calculation, the EMI you have to pay towards the car loan remains unchanged throughout the loan tenure. This is so because the company offered a fixed rate of interest for the whole period.

    For example, for a car loan equal to Rs.5 lakh at 10% p.a. interest for a 3-year tenure, the interest payable will be Rs.16,134 per month. This will be the amount payable throughout the tenure of the loan.

  • Floating Rate EMI Calculation
  • Under the floating rate EMI calculation method, the EMI payable differs based on the interest rate applicable at the time. The floating rate of interest changes based on the market lending rate.

    Let’s say you have taken a car loan equal to Rs.5 lakh for a 3-year tenure. The interest rate for about a year is 10% so the EMI payable, as in the example above is Rs.16,134. After completion of 1 year, you have an outstanding balance of Rs.3,36,409. The car loan interest rate at that time is then changed to 8%. So, for the rest of the tenure, the EMI payable will be Rs.15,215.

Note that the interest rate may increase or decrease within the loan period depending on market fluctuations.

Car Loan Fees and Charges for Top 3 Banks

Given below is a comparison of a few fees and charges levied by three selective banks:

Name of the bank HDFC Bank Axis Bank
Processing fee 1% of the loan amount. The maximum and minimum amount that can be charged are Rs.5,000 and Rs.10,000, respectively. Rs.3,500 to Rs.5,500
Documentation Rs.700 Rs.500 per instance
Foreclosure charges 3% - 6% depending on amount of time completed* 5% of the principal outstanding
Loan cancellation As mentioned by the bank Rs.2,500 per instance
Penal interest 2% per month 2% per month

Note: GST rates will be applicable over and above the rates charges mentioned above.

*HDFC Bank does not allow foreclosure within 6 months from the day the car loan was availed.

Car Loan EMI Calculator Offered by Major Banks in India

Advantages of Using the Car Loan EMI Calculator

  • Break-Up of the Due Amount is Provided: The car loan EMI calculator helps you calculate the processing fees, interest that is paid, the total amount that must be paid, and the principal amount.
  • Your Budget can be Planned: Once you know the EMI that must be paid, you can plan your budget accordingly. In case the loan amount that is being availed is large, you may think of opting for a longer tenure. These details can be determined by using the car loan EMI calculator.
  • Accuracy: For the details that are being provided on the calculator, the results that are displayed are accurate. Manual calculations may not provide accurate results.
  • Saves Time: The main aim of the Car Loan EMI calculator is to save time. Once the relevant details are entered, the results are displayed almost immediately.
  • No Limit: There is no limit to the number of times the calculator can be used. Therefore, you use the calculator with different variants. This can help you choose the best lender and the down payment that must be paid.
  • Compare: As there is no limit to the number of times that the calculator can be used, you can compare the EMIs for different values.

FAQs on Car Loan EMI

What is Equated Monthly Installment?

Secured loans like home loans and car loans, and unsecured loans like personal loans are repaid through Equated Monthly Installments (EMI). Car loan EMI is a fixed amount that the borrower pays to the lender/bank each month towards the repayment of the car loan till the end of the loan tenure. EMI consists of the principal loan amount and interest payment.

What are the benefits of using an online Car Loan EMI Calculator?

The online car loan EMI calculator can be found on the bank website or a reliable third-party website. The tool is easy to use. You can use it any number of times for free. The results are instant and accurate whereas manual EMI calculations are prone to human error and are time consuming. You can also input varying combinations of the loan amount, loan tenure, and interest rates to get revised results.

What is a Car Loan Repayment table?

A Car Loan Repayment table represents the periodic loan repayment schedule of your car loan. It consists of the breakdown of your car loan repayment details such as the principal loan amount, EMI, interest payment, and the outstanding due after each EMI payment.

Can I avail a Car Loan on my existing four-wheeler?

Yes, you can avail a car loan on your existing four-wheeler. You can visit the BankBazaar website to find a bank that offers a car loan for used cars that matches your needs and requirements.

Who can avail a Car Loan?

Anybody who falls under the following categories can avail a car loan:

  • Self-employed individuals
  • Salaried individuals
  • Partnership firms
  • HUFs and Trusts
  • Partnership firms
Do I need to pay a subscription fee or do I have to make an account with BankBazaar?

No. The Car Loan EMI Calculator is available on the BankBazaar website for no charge at all. You do not have to make a new login ID to use the Car Loan EMI Calculator on the BankBazaar website.

What are the different ways by which the car loan EMI can be paid?

The different methods by which the car loan EMI can be paid are mentioned below:

  • Post-dated cheques
  • ECS mandate
  • Standing Instructions
Are there any penalties levied in case I miss an EMI?

Yes, a penalty will be levied if you miss an EMI. Depending on the lender, the penalty charges will vary. Your credit score will also be affected if you miss an EMI.

Does the EMI amount depend on the repayment tenure?

Yes, the EMI that must be paid will depend on the repayment tenure that you have selected. The EMI will be lower in case the tenure is longer.

Can the car loan EMI be changed in the future?

Based on whether you have chosen a floating rate or a fixed rate, the car loan EMI will change. In the case of floating rate, the EMI will change based on the rate of interest for the month. However, the EMI will not change if you have opted for a fixed rate.

Is it possible to avail a car loan for a used car?

Yes, most lenders offer car loans for used cars.

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News About Car Loan EMI Calculator

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