🚗 Car Loan EMI Calculator
Build your car loan from ex-showroom + RTO + insurance to on-road price, set your down payment, and see EMI with LTV checks. Advanced mode covers eligibility, prepayment and balance transfer.
EMI Calculator
Full 6-module loan deep analysis
🔒 Locked to Vehicle. Switch loan type.
Step 1 of 7
How much loan can you get?
Banks use FOIR (Fixed Obligation to Income Ratio) to cap your total EMI burden.
Net Monthly Income
Take-home salary or business income after tax
Existing EMIs / Month
All current loan repayments combined
FOIR Limit
Most banks allow 40–50% of income toward all EMIs
Enter your monthly income to calculate maximum loan eligibility.
Index
EMI & Loan Questions — Answered Directly
25 questions across Home, Personal, Car, and Education loans. India-specific, updated for RBI 2025–26 rules, no lender recommendations.
Home Loan EMI
Personal Loan EMI
Car Loan EMI
Education Loan EMI
General EMI
What This Car / Vehicle Loan Calculator Does
- On-road price = ex-showroom + RTO + insurance, then loan = on-road minus down payment
- Dual LTV check — against on-road and ex-showroom (bank valuation basis), with 85% ceiling warning
- Flat-rate vs reducing-balance comparison (a 10% flat ≈ 18–19% reducing over 5 years)
- Tenure trade-off — shorter tenure on a depreciating asset saves significant interest
- Prepayment / foreclosure modelling with current RBI charge rules
Car / Vehicle Loan EMI — Frequently Asked Questions
How is car loan EMI calculated?
Car loan EMI uses the reducing-balance formula on the financed amount (usually 80–90% of on-road price) at 8.5–12% p.a. for 1–7 years. A ₹8L loan at 9.5% for 5 years is an EMI of about ₹16,800/month with ~₹2.08L total interest.
What is the difference between flat rate and reducing balance rate?
A flat rate charges interest on the original principal for the whole tenure; a reducing-balance rate charges only on the outstanding balance. A 10% flat rate is roughly an 18–19% reducing-balance rate over 5 years — always convert to reducing balance when comparing dealer offers.
How much car loan EMI can I afford?
Keep total EMIs within 40–50% of net take-home. On ₹60,000/month with no other loans, a ₹24,000–₹30,000 EMI supports roughly ₹11.5L–₹14.5L at 9.5% for 5 years. Also budget insurance, fuel and maintenance — typically 15–20% of ex-showroom price per year.
Other Loan Types
Each loan type has its own calculator with type-specific logic. The all-in-one EMI Calculator hub lets you pick any type and switch freely.