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Car / Bike Loan EMI Calculator

Work out the monthly EMI on a car or bike loan. Enter the vehicle price, your down payment, the interest rate, and the tenure to see your EMI, total interest, and a year-by-year breakdown.

Quick start:
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Car loans are usually 9–12%, two-wheelers around 9–14%.

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Monthly EMI

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Interest

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Year-by-year breakdown
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How the EMI is worked out

EMI stands for Equated Monthly Instalment, the fixed amount you pay each month until the loan is cleared. It is calculated on a reducing balance using the loan amount, the monthly interest rate, and the number of months. A bigger down payment or a shorter tenure lowers the total interest you pay. This is an estimate, your lender's exact figure can differ slightly due to processing fees and their rate.

How is the EMI calculated?
It uses the standard reducing-balance formula: EMI = P x r x (1+r)^n / ((1+r)^n - 1), where P is the loan amount, r is the monthly interest rate, and n is the number of months. Most vehicle loans in India use this method.
How much down payment should I make?
Many buyers pay 10 to 20 percent of the price upfront, though lenders may finance up to the full on-road price. A larger down payment means a smaller loan and less total interest, so pay as much as you comfortably can.
Does a longer tenure cost more?
Yes. A longer tenure lowers your monthly EMI but increases the total interest you pay, because interest accrues over more months. A shorter tenure costs more each month but less overall.
Will my bank give exactly this EMI?
Treat this as a close estimate. Your actual EMI depends on the exact interest rate offered to you, processing fees, and any insurance bundled into the loan. Always confirm with the lender before signing.
How can I reduce my EMI or interest?
Increase your down payment, choose a shorter tenure, negotiate a lower rate (a good credit score helps), or make part-prepayments later where allowed. Each of these reduces what you pay overall.

Buying a vehicle? You will also need to budget for road tax and registration. See our guide on new vehicle registration, and if you are buying used, learn how to check a vehicle's details first.