Car Loan EMI Calculator
Calculate your car loan EMI instantly. Enter loan amount, interest rate, and tenure to get your monthly EMI and total interest payable.
Car Loan Details
₹8.00 L
₹50,000₹1 Crore
9%
5%20%
5 Years
1 Year7 Years
Monthly EMI
₹16,607
Principal Amount
₹8.00 L
Total Interest
₹1.96 L
Total Payment
₹9.96 L
Payment Breakdown
Principal (80.3%)
Interest (19.7%)
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Frequently Asked Questions
What is the typical interest rate for car loans?
Car loan interest rates in India typically range from 7% to 12% per annum for new cars. Used car loans may have higher rates of 12-18% depending on the vehicle age and condition.
What is the maximum car loan tenure?
Most banks offer car loans with a maximum tenure of 7 years for new cars. For used cars, the tenure is usually limited to 5 years or less.
How much down payment is required for a car loan?
Banks typically finance 80-90% of the car's on-road price for new cars. You'll need to pay 10-20% as down payment. For used cars, the financing is usually 70-80% of the car's value.