Car loan calculator
From on-road price to a comfortable monthly EMI.
Estimated monthly car EMI
For illustration only. Read the assumptions below for the full picture.
Understand your result.
Estimate a vehicle EMI from on-road price, down payment, a reducing-balance rate and a loan term in months. Upfront charges paid separately can be included in the total outlay.
Check both the amount financed and the total cost of owning the purchase under the entered terms. A lower EMI can result from a larger down payment or longer borrowing.
A worked example.
Using this calculator’s default inputs, estimated monthly car emi is ₹18,683. This is an illustration of the stated formula, not a forecast.
See the example inputs
| On-road vehicle price | ₹12,00,000 |
|---|---|
| Down payment | ₹3,00,000 |
| Annual reducing-balance interest | 9 % |
| Loan term | 60 months |
| Upfront fees paid separately | ₹5,000 |
A common mistake to avoid
Adding registration or insurance twice after including them in the on-road price.
Questions you might have.
Are the entered fees financed?
No. Fees are treated as separately paid upfront costs, so interest is not charged on them in this model.
Does it support a balloon payment?
No. It models an ordinary fully amortising loan with no residual balloon.
Prepared by INDwise · Calculation checks: 29 October 2026 · How we check the maths · Report a correction
How we calculate it
Loan principal = on-road price − down payment. EMI uses the monthly reducing-balance formula. Overall outlay = down payment + all repayments + entered upfront fees.
Assumptions & things to know
Fixed-rate loan with no balloon payment. On-road price already includes purchase taxes; no additional GST is inferred. Separately paid fees do not earn interest in this model.
Your privacy & sharing
Your financial inputs are used only within this page. Saved calculators use this browser’s local storage. Sharing creates a link with the entered values, so anyone with that link can see those values. A downloaded summary stays on your device.