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Car Loan EMI Calculator
Result
Chart
Show formula & working
EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1)
P = loan amount, r = annual interest rate ÷ 12 ÷ 100, n = number of monthly instalments. Interest each month = balance at the start of the month × r; the rest of the EMI repays principal.Details
GST on loan processing and similar fees: rates and rules as of 28-Oct-2026 · Source: GST rate schedule for services, heading 9971 (CGST 9% + SGST 9%); CBIC Circular 218/12/2024-GST on processing fees. Every figure based on it stays editable.
How this works
The loan is the on-road price less your down payment. A larger down payment means a smaller loan, lower EMI and less interest.
Car loans are often quoted at flat rates by dealers — convert to the reducing rate before comparing.
Frequently asked questions
How much do lenders finance on a car?
It depends on the lender, the car and your profile — often up to 80%–90% of the on-road or ex-showroom price.
Should I take the longest tenure?
A longer tenure lowers the EMI but adds interest, and the car loses value faster than the loan falls in the early years.
Talk to Rytvae
Compare lenders, structure the loan and plan prepayments with someone who reads sanction letters for a living.