Are you looking for car loan calculator? Use this tool to calculate how much per month emi you have to pay for buy your dream car. This calculator use for the calculation of SUV, MUV, Used Car, New Car etc. This calculator works for SBI, PNB, HDFC, ICICI, Axis Bank, Uco Bank, Union Bank, United Bank, Dena Bank, Magma Fincorp etc.
How this Car loan emi calculator works?
Simply insert your required car loan amount, Interest Rate & loan tenure period > It shows you the specific result related to your query instantly. Calculator shows youA user-friendly interface will let you modify the loan amount, tenure & interest rate to suit your preferences. Use this calculator to arrive at the EMI you are comfortable with. Also apply online through deal4loans for getting best offers!!!
EMI or Equated Monthly Installment is the fixed amount that a borrower has to pay every month before a specified due date towards the loan amount which he/she borrow from the bank. Basically EMI’s are a combined part of Principal amount + Interest paid on loan amount. At the starting of loan you have to pay more interest. As the loan tenure progresses, the contribution towards interest repayment will reduce and the principal repayment portion will increase with the time.
Mathematically, EMIs are computed using the following formula
Monthly Instalment Amount = [ P x R X (1 + R) ^ N] / [ (1 + R) ^N - 1]
EMI Calculator | Home Loan EMI Calculator | Personal Loan EMI Calculator
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Loan Amount
Rs. 3,00,000
Monthly Instalment (EMI)
Rs. 6,448
Total Interest Amount
Rs. 86,890
Total Amount (Principal + Interest)
Rs. 3,86,890
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| Banks List | Interest Rate(New Car) |
Per Lac EMI (for 7 years) |
| HDFC Bank | 8.95% - 11.00% | Rs. 1,606 - Rs. 1,712 |
| SBI Car Loan | 8.65% – 9.70% | Rs. 1,591 - Rs. 1,645 |
| ICICI Bank | 8.95% - 11.25% | Rs. 1,606 - Rs. 1,725 |
| Axis Bank | 9.15%-13.80% | Rs. 1,617 - Rs. 1,863 |
For an example if you can take a loan amount a 5 lakh for 4 years at Interest Rate of 8.80%, than your emi calculations for the loan are as follows;
| Year | Principal | Interest | Balance Amount |
| 1 | Rs. 109,069 | Rs. 39,671 | Rs. 390,931 |
| 2 | Rs. 119,064 | Rs. 29,676 | Rs. 271,867 |
| 3 | Rs. 129,974 | Rs. 18,766 | Rs. 141,893 |
| 4 | Rs. 141,983 | Rs. 6,855 | Rs. 0 |
| SBI Car Loan | HDFC Bank Car Loan | ICICI Bank Car Loan |
| Union Bank Car Loan | Bank of Baroda Car Loan | PNB Car Loan |
| Axis Bank Car Loan | Magma Fincorp Car Loan | TVS Credit Car Loan |
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| TATA Tigor | Mahindra Balero | Mahindra Scorpio | Mahindra Xuv500 |
| Hyundai Eon | Maruti Celerio | Maruti Scross | Honda City |
| Maruti Ciaz | TATA Hexa | Toyota Innova Crysta | Toyota Fortuner |
| Mahindra TUV300 | Maruti Omni | Maruti Eeco | Maruti Ignis |