Car Loan Calculator

Calculate EMI of your car loan.

|1L|5L|10L|15L|20L|25L|30L|35L|40L
Year
|12|24|36|48|60|72|84
%
|5|10|15|20|25|30|35

Calculations

Your loan details as specified by you

EMI ()
925
Total Payable Interest ()
33,184
Total Payments Made Over Loan Term ()
1,33,184
Interest Amount ()
33,184
Principal Amount ()
1,00,000
Total Payments ()
1,33,184
YearOpening Balance ()EMI ()Interest paid monthly ()Principal paid monthly ()Closing Balance ()
20231,00,00011,1004,8586,24093,760
202493,76011,1004,5396,55987,200
202587,20011,1004,2036,89680,305
202680,30511,1003,8527,24873,057
202773,05711,1003,4797,61965,438
202865,43811,1003,0908,00857,429
202957,42911,1002,6808,41949,011
203049,01111,1002,2498,85040,161
203140,16111,1001,7969,30230,860
203230,86011,1001,3219,77821,082
203321,08211,10082110,27910,804
203410,80411,09629510,8080

Car Loan EMI Calculation

Formula for Car Loan EMI Calculation:

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

Where,

E: Equivalent Monthly Installment,

P: Principal or total loan amount,

r: Interest rate per month (the annual interest rate is divided by 12 to get the monthly interest rate), and

n: Number of monthly instalments or loan tenure in months.

*This formula excludes the car loan processing fee charged by the bank.

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