Core Calculators
Car Loan Calculator
Calculate car loan EMI instantly
Loan details
₹
₹
%
yrs
Monthly EMI
₹0
How car loan EMI is calculated
Financed amount = On-road price minus down payment. EMI follows the standard reducing-balance formula.
EMI = P × r × (1+r)n / ((1+r)n − 1)
Why use it
Detailed features
Bank-standard
Reducing-balance EMI formula.
Interest breakdown
See total interest and repayment.
Instant results
Updates as you type.
On the go
Also in the Toolance app.
Frequently asked questions
New car loan rates often start around 8% to 10% for strong profiles, depending on bank and model. Electric vehicles sometimes get promotional rates from certain lenders.
Usually yes, by about 1% to 3% because resale risk is higher. Tenure may also be shorter on pre-owned cars. Enter the rate your lender quotes for a used vehicle.
Subtract your down payment from on-road price to get loan amount. EMI is then based on annual rate and tenure in years using the standard reducing balance method.
Manufacturer or dealer subvention can lower the effective rate for a promo period. Check whether the subsidy is real rate cut or built into car price before you compare.
Most banks allow prepayment with small or zero penalty on floating retail loans, but rules vary. Foreclosing saves interest; run the numbers with your outstanding principal from the bank.
You can often buy insurance yourself. Bundled policies are convenient but compare premium and coverage with standalone options.
No. This is a planning tool only. Final EMI comes from your sanction letter. Not a substitute for dealer or bank advice.
Yes. No signup or fee. Try different down payments and tenures instantly.