✨ 2026 Next-Gen Financial Engine
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Car Loan EMI Calculator
Calculate exact monthly EMI, total interest payable, and repayment amortization schedule for your car loan in India.
Instant Amortization
RBI Compliant 2026
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Car Loan EMI Parameters
Adjust loan amount, interest rate, and tenure sliders below.
₹10,00,000
8.9%
7 Yrs
Calculated Monthly EMI
₹0
₹0
Total Interest Outgo
₹0
Total Amount Payable
Principal vs Interest Split
Real-time
Annual Amortization Schedule (First 10 Years)
| Year | Principal Paid | Interest Paid | Remaining Balance |
|---|---|---|---|
| Loading schedule... | |||
Car Loan EMI & Vehicle Financing Guide (2026)
Buying a car is one of the second largest purchases for Indian households after real estate. Car loans help finance 80% to 100% of ex-showroom or on-road costs with manageable monthly installments.
1. New Car vs. Used Car Loan Comparison
| Feature | New Car Loan | Used / Pre-Owned Car Loan |
|---|---|---|
| Interest Rate Range | 8.75% – 9.80% p.a. | 12.50% – 16.50% p.a. |
| Max Financing (LTV) | 85% to 100% of On-Road Price | 70% to 80% of Valuation Amount |
| Max Loan Tenure | 7 to 8 Years | 3 to 5 Years |
| Processing Fees | ₹1,000 – ₹3,000 flat / promotional waived | 1% to 2% of loan amount |
2. Understanding Down Payment & On-Road Costs
The on-road price of a vehicle consists of the Ex-showroom price + RTO Registration Charges + Road Tax + Motor Insurance (1 Yr Own Damage + 3 Yr Third Party) + Fastag / TCS. Higher down payments lower your overall borrowing costs and prevent negative equity as vehicle depreciation accelerates in early years.
3. Top Indian Lenders Car Loan Rates (2026)
- State Bank of India (SBI Yono Car Loan): 8.75% – 9.60% (Zero foreclosure charges)
- HDFC Bank Custom-Fit Car Loan: 8.85% – 9.75% (100% on-road funding options)
- ICICI Bank Auto Loan: 8.80% – 9.70% (Instant approval for pre-approved customers)
- Axis Bank Car Loan: 8.90% – 9.85% (Up to 8 years tenure)