Vehicle loan EMI

Work out your EMI before you borrow

Pick the type of vehicle, set the amount, rate and tenure, and see the monthly instalment, interest and total payable.

  • Free, no sign-up
  • 8 vehicle types
  • Nothing is stored

Car Loan EMI Calculator

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₹
%
Months

* An estimate on a reducing balance. A lender's offer can differ because of fees, insurance and rounding.

All calculators

Choose your loan type

Each calculator starts with typical values for that kind of vehicle. You can change every one of them.

Car Loan EMI CalculatorCalculate your car loan EMI, interest, and total amount payable instantly.Starts at ₹8 L · 9% · 5 yrsBike Loan EMI CalculatorCalculate your two-wheeler loan EMI, interest, and total amount payable instantly.Starts at ₹1 L · 11% · 3 yrsUsed Car Loan EMI CalculatorEstimate the EMI on a second-hand car loan before you visit a lender.Starts at ₹4 L · 12% · 4 yrsElectric Vehicle Loan EMI CalculatorEstimate the monthly EMI for an electric car, scooter, or bike loan.Starts at ₹12 L · 9.5% · 5 yrsTruck Loan EMI CalculatorPlan the monthly instalment on a truck, tipper, or goods carrier loan.Starts at ₹25 L · 12% · 5 yrsCommercial Vehicle Loan EMI CalculatorEstimate the EMI for a bus, van, pickup, or taxi bought for business.Starts at ₹15 L · 12.5% · 4 yrsTractor Loan EMI CalculatorEstimate the monthly or yearly burden of a new or used tractor loan.Starts at ₹7 L · 11% · 5 yrsAuto Rickshaw Loan EMI CalculatorEstimate the EMI on an auto rickshaw, e-rickshaw, or cargo three-wheeler.Starts at ₹2.5 L · 14% · 3 yrs
How it works

How an EMI is calculated

Every calculator uses the standard reducing-balance formula that banks use.

The formula

EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1)

  • P is the loan amount
  • r is the monthly rate: annual rate ÷ 12 ÷ 100
  • n is the number of monthly instalments
Worked example

A ₹8,00,000 loan at 9% for 60 months works out like this:

Monthly EMI
₹16,607
Total interest
₹1,96,401
Total payable
₹9,96,401
Good to know

Ways to keep your EMI in check

Pay a bigger down payment

A smaller loan means a smaller EMI and less interest over the years.

Choose the tenure with care

A longer tenure lowers the EMI but raises the total interest. A shorter one does the opposite.

Compare rates

A difference of even 1% in the interest rate changes the total you pay.

Ask about the fees

Processing fees, insurance and part-payment charges are not part of the EMI itself.

FAQ

Questions about EMI

Short answers about how these calculators work.

01What is an EMI?

An EMI is the fixed amount you pay each month on a loan. It covers part of the amount you borrowed plus the interest on it.

02How is the EMI worked out?

With the standard reducing-balance formula: EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where P is the loan amount, r the monthly rate and n the number of months.

03Does the EMI include processing fees or insurance?

No. These calculators show the EMI on the loan amount only. Fees, insurance and other charges are extra.

04Are the default rates what a bank will offer?

No. They are starting values only. The rate you get depends on the lender, your profile and the vehicle.

05Is my data stored?

No. The calculation runs in your browser and nothing you type is saved.

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