Car EMI Calculator

Plan your dream car with our accurate monthly installment tool.

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Monthly EMI
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Total Interest

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Total Amount

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Banks EMI

Affordability Manager

Not sure how much you can borrow? Enter your details to see a safe limit.

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⚡ Quick Reference

Typical safe EMI limits for common salary ranges (assuming 50% ratio).

₹ 25,000 Salary ₹ 12,500 EMI
₹ 50,000 Salary ₹ 25,000 EMI
₹ 75,000 Salary ₹ 37,500 EMI
₹ 1 Lakh Salary ₹ 50,000 EMI
₹ 1.5 Lakh Salary ₹ 75,000 EMI

Planning Tools

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Why Use Our Car EMI Calculator?

Buying a car is a major financial decision. Our smart EMI calculator helps you plan your budget effortlessly. Whether you are eyeing a family SUV like the Tata Safari or a city hatchback like the Maruti Swift, knowing your monthly commitment is crucial.

Factors Affecting Your EMI:

  • Loan Amount: The principal amount you borrow from the bank.
  • Interest Rate: Connects to your credit score and bank policies (usually 8.5% - 11%).
  • Tenure: Longer tenure reduces EMI but increases total interest paid.

How to Use This Tool

  1. Enter Loan Amount Adjust the slider or type the exact vehicle price (minus your down payment).
  2. Set Interest Rate Input the current bank interest rate. Most car loans range between 8.5% to 10.5%.
  3. Choose Tenure Select the number of years. A standard tenure is 3 to 5 years (36 to 60 months).
  4. View Results Instantly see your monthly EMI, total interest, and the final payable amount.

Frequently Asked Questions

What is a Car Loan EMI?

EMI stands for Equated Monthly Installment. It is the fixed amount you pay to the bank every month to repay your car loan, comprising both principal and interest components.

How is Car Loan EMI calculated?

The formula used is: EMI = [P x R x (1+R)^N]/[(1+R)^N-1], where P is Principal, R is monthly interest rate, and N is tenure in months. Our calculator automates this for you.

Does the EMI change if I prepay?

Yes! If you make a part-prepayment, your principal reduces. You can either choose to reduce your EMI amount or shorten your loan tenure.

What is a good tenure for a car loan?

A tenure of 3 to 5 years is generally recommended. It balances a manageable monthly EMI with a reasonable total interest payout. Longer tenures (7 years) increase the total interest significantly.