India Car Loan EMI Calculator — Calculates Equated Monthly Instalments using the reducing balance method as per RBI guidelines. Amounts in Indian Rupees (₹).
Car Loan EMI Calculator
Loan Amount
Loan Tenure
EMI (Equated Monthly Installment) is the fixed monthly payment for a loan, comprising both principal and interest. Widely used in India and South Asia for home loans, car loans, and personal loans. The formula is identical to the standard loan payment calculation.
Tip: Choose your EMI carefully — it should not exceed 30–40% of your net monthly income. Indian banks typically cap home loan EMI at 50–55% of gross monthly income.
- 1EMI = P × r × (1+r)^n / ((1+r)^n − 1)
- 2P = Principal, r = monthly interest rate (annual rate/12), n = loan tenure in months
- 3Total payment = EMI × n; Total interest = Total payment − Principal
- 4Partial prepayment reduces either the EMI or the tenure
| Rate (p.a.) | 10 years | 20 years | 30 years |
|---|---|---|---|
| 7% | ₹11,611 | ₹7,753 | ₹6,653 |
| 8.5% | ₹12,399 | ₹8,678 | ₹7,689 |
| 10% | ₹13,215 | ₹9,650 | ₹8,776 |
| 12% | ₹14,347 | ₹11,011 | ₹10,286 |
Fun Fact
India's home loan market has grown to over ₹30 lakh crore ($360 billion). The RBI's repo rate directly affects home loan rates — each 25bps change in repo rate shifts a ₹50 lakh, 20-year loan EMI by roughly ₹900.
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