Car Loan EMI Calculator
Calculate your monthly car loan EMI for any vehicle price and down payment. Car loan rates in India currently range from 8.5% to 12.5% depending on the lender and your credit score.
₹7.00 L Car Loan · 9% p.a. · 5 years
₹14,531/month
EMI at Different Interest Rates (5 Years)
| Interest Rate | Monthly EMI | Total Interest | Total Payment |
|---|---|---|---|
| 8.35% | ₹14,311 | ₹1.59 L | ₹8.59 L |
| 8.75% | ₹14,446 | ₹1.67 L | ₹8.67 L |
| 9.25% | ₹14,616 | ₹1.77 L | ₹8.77 L |
| 10% | ₹14,873 | ₹1.92 L | ₹8.92 L |
Rates as of 2026. Actual rates vary by lender and borrower profile.
EMI for Different Loan Tenures (9% p.a.)
| Tenure | Monthly EMI | Total Interest | Total Payment |
|---|---|---|---|
| 10 years | ₹8,867 | ₹3.64 L | ₹10.64 L |
| 15 years | ₹7,100 | ₹5.78 L | ₹12.78 L |
| 20 years | ₹6,298 | ₹8.12 L | ₹15.12 L |
| 25 years | ₹5,874 | ₹10.62 L | ₹17.62 L |
| 30 years | ₹5,632 | ₹13.28 L | ₹20.28 L |
★ marks your selected tenure. Shorter tenure = lower total interest but higher monthly EMI.
Frequently Asked Questions
What is the EMI for a ₹7 lakh car loan at 9% for 5 years?
The EMI for a ₹7 lakh car loan at 9% for 5 years is approximately ₹14,525/month. Total amount paid is approximately ₹8.72 lakhs, of which ₹1.72 lakhs is interest.
What car can I afford with a ₹15,000/month EMI budget?
At ₹15,000/month EMI, 9% interest, 5-year tenure, you can afford a loan of approximately ₹7.23 lakhs. With a 20% down payment, this corresponds to a car priced at approximately ₹9 lakhs. Popular options include Maruti Swift, Hyundai i20, and Tata Nexon.
Is it better to pay more down payment or take a longer car loan tenure?
A larger down payment is almost always better. It reduces your principal (lowering EMI and total interest) without extending the loan tenure. Car loans longer than 5 years lead to negative equity — the car's value depreciates faster than you repay the loan.
Calculate with Your Own Numbers
Use our interactive EMI calculator to model any loan amount, interest rate, and tenure — with a full amortization schedule.
Open Interactive EMI Calculator →