Car Loan EMI Calculator (Oct 2026)
Calculate the monthly EMI, total interest and repayment schedule for any car loan. Defaults use 8.75% for 5 years; change them to match your offer.
Car Loan EMI for common amounts
| Loan amount | EMI (8.75%, 5 yr) | Total interest | |
|---|---|---|---|
| ₹3 Lakh | ₹6,191 | ₹71,470 | All rates |
| ₹4 Lakh | ₹8,255 | ₹95,294 | All rates |
| ₹5 Lakh | ₹10,319 | ₹1,19,117 | All rates |
| ₹6 Lakh | ₹12,382 | ₹1,42,940 | All rates |
| ₹7 Lakh | ₹14,446 | ₹1,66,764 | All rates |
| ₹8 Lakh | ₹16,510 | ₹1,90,587 | All rates |
| ₹10 Lakh | ₹20,637 | ₹2,38,234 | All rates |
| ₹12 Lakh | ₹24,765 | ₹2,85,881 | All rates |
| ₹15 Lakh | ₹30,956 | ₹3,57,351 | All rates |
| ₹20 Lakh | ₹41,274 | ₹4,76,468 | All rates |
New car loan rates at banks currently run roughly 8–10% p.a.; used-car loans are usually 2–5 points higher.
Frequently asked questions
What is the current car loan interest rate?
New car loan rates at banks currently run roughly 8–10% p.a.; used-car loans are usually 2–5 points higher. Your exact rate depends on credit score, income, employer and the lender.
What is the maximum tenure for a car loan?
Lenders typically offer up to 7 years for a car loan. A longer tenure lowers the EMI but increases total interest.
Does prepaying reduce my EMI?
Part-prepayment reduces the outstanding principal. You can usually choose to keep the EMI and shorten the tenure (saves the most interest) or keep the tenure and lower the EMI. Floating-rate loans to individuals carry no prepayment penalty under RBI rules.