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Car Loan Calculator

Car loan EMI from the on-road price.

₹8.5 Lakh
₹
₹

Usually 4–15% of the price, depending on the state

₹
₹2 Lakh
₹
%
years
% of loan
Monthly EMI
₹15,839
for 5 years
On-road price
₹9,63,000
₹9.63 Lakh
Loan amount
₹7,63,000
79% financed
Total interest
₹1,87,318
Processing fee
₹3,815
+ GST
Total cost of the car
₹11,54,133
₹11.54 Lakh
TenureEMITotal interest
3 years₹24,263₹1,10,475
4 years₹18,987₹1,48,390
5 years₹15,839₹1,87,318
6 years₹13,753₹2,27,251
7 years₹12,276₹2,68,181

Banks usually finance up to 80–100% of the on-road (or ex-showroom) price. A popular rule of thumb: 20% down, loan for up to 4 years, and total car costs under 10% of your monthly income.

How to use

  1. 1Enter the ex-showroom price, RTO charges and insurance.
  2. 2Enter your down payment.
  3. 3Set the interest rate, tenure and processing fee.
  4. 4See the EMI, total interest and a comparison of tenures.

Frequently asked questions

What is the on-road price?

Ex-showroom price plus RTO registration and road tax, insurance and sometimes accessories or extended warranty.

How much of the car price will a bank finance?

Usually 80–100% of the on-road or ex-showroom price, depending on your income and credit score.

Is a longer tenure better?

It lowers the EMI but increases total interest. The table shows the trade-off.

What are typical car loan rates?

For new cars, roughly 8.5–11% a year from banks, depending on your profile.

Is the processing fee included?

It's shown separately and added to the total cost; GST applies on it.

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