About Car Loan EMI Calculator
So you have finalized your dream car it seems, congratulations! If you are planning to get a car loan from a bank then we have a useful Car Loan EMI calculator that will help you determine your monthly installments on the loan. We hope to help you in this exciting journey of a car purchase.
Car Loan EMI Calculator
EMI: ?0
Principal Amount: ?0
Total Interest Payable: ?0
Total Payment (P+I): ?0
Example Car Loan EMI Calculation
Let’s say you want to buy a premium model of Maruti Suzuki Swift which is priced at Rs. 8 Lakhs. If the bank offers you a car loan for Rs 8 Lakh at 8.5% for 7 years then your EMI will be
8,00,000 x (8.5/12/100) x (1+(8.5/12/100))84
[ (1+(8.5/12/100))84 -1]
= Rs 12,669
For this loan, below are some useful numbers to help with decision
Total Payable Interest = Rs. 2,64,212
Total Payable Amount = Rs. 10,64,212
For details on the EMI calculation formula please click here
Car Loan Interest Rates : Some Popular Banks
Based on the internet research here are the car loan interest rates from some popular banks in India
| Bank | Car Loan Interest Rate |
| SBI Bank | 8.65% p.a. onwards |
| HDFC Bank | 8.30% p.a. onwards |
| ICICI Bank | 8.95% p.a. onwards |
| Axis Bank | 9.15% p.a. onwards |
| Bank of Baroda | 8.75% p.a. onwards |
Car Price : Some Popular Cars
Based on the internet research here are the prices for popular car models
| Car Make and Model | Car Price Range |
| Maruti Swift | Rs. 6 Lakhs onwards |
| Maruti Baleno | Rs. 6 Lakhs onwards |
| TATA Punch | Rs. 6 Lakhs onwards |
| Hyundai Creta | Rs. 10 Lakhs onwards |
| Mahindra XUV 700 | Rs. 14 Lakhs onwards |
Other useful links
EMI Calculator
BMI Calculator
Age Calculator
Disclaimer: Information on gyaankashti.com is for reference only. Amounts may differ slightly due to rounding. Please report any calculation errors in the comments.
