What tenure is common for car loans?
Many car loans run between 3 and 7 years. Shorter tenures increase EMI but reduce total interest.
Free EMI calculator for India
Car Loan EMI Calculator
Plan your car purchase with a clear EMI estimate. Adjust down payment impact, interest rate, and tenure so the monthly payment stays practical after fuel, insurance, and maintenance.
Estimated EMI
₹25,202
Interest
21%
Payment breakup
Principal79.4%₹12,00,000
Interest20.6%₹3,12,134
Total interest
₹3,12,134
Total payment
₹15,12,134
PrincipalInterest
79.4%20.6%
Calculate EMI
Monthly EMI
₹25,202
For 5 years at 9.50%
Interest share
20.6%
Of your total repayment
First year interest
₹1,05,575
₹1,96,852 principal in year one
Car loan cost
₹15,12,134
Principal plus total interest
EMI formula
EMI = P x R x (1 + R)^N / ((1 + R)^N - 1), where P is loan amount, R is monthly interest rate, and N is tenure in months. Loan Blaster calculates the same formula instantly and shows the interest breakup so you can compare offers faster.
Amortization preview
First 12 months of principal, interest, and outstanding balance.
| Month | EMI | Principal | Interest | Outstanding |
|---|---|---|---|---|
| 1 | ₹25,202 | ₹15,702 | ₹9,500 | ₹11,84,298 |
| 2 | ₹25,202 | ₹15,827 | ₹9,376 | ₹11,68,471 |
| 3 | ₹25,202 | ₹15,952 | ₹9,250 | ₹11,52,519 |
| 4 | ₹25,202 | ₹16,078 | ₹9,124 | ₹11,36,441 |
| 5 | ₹25,202 | ₹16,205 | ₹8,997 | ₹11,20,236 |
| 6 | ₹25,202 | ₹16,334 | ₹8,869 | ₹11,03,902 |
| 7 | ₹25,202 | ₹16,463 | ₹8,739 | ₹10,87,439 |
| 8 | ₹25,202 | ₹16,593 | ₹8,609 | ₹10,70,846 |
| 9 | ₹25,202 | ₹16,725 | ₹8,478 | ₹10,54,121 |
| 10 | ₹25,202 | ₹16,857 | ₹8,345 | ₹10,37,264 |
| 11 | ₹25,202 | ₹16,991 | ₹8,212 | ₹10,20,273 |
| 12 | ₹25,202 | ₹17,125 | ₹8,077 | ₹10,03,148 |
EMI calculator FAQs
Does a higher down payment reduce EMI?
Yes. Higher down payment reduces the financed amount, which lowers EMI and total interest.
Should I take the longest car loan tenure?
Not always. Long tenure lowers EMI but can make the car cost much more after interest.
Can this calculator be used for used car loans?
Yes. Enter the used car loan amount, offered interest rate, and tenure to calculate EMI.