Loan Details
₹ 5.00 L
₹1L₹1Cr
8.5%
1%20%
110 Years
Monthly EMI
₹0
Payment Breakdown
Principal Amount
₹5,00,000Total Interest
₹0Total Amount Payable₹0
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Car Loan EMI Calculator
A Car Loan EMI (Equated Monthly Installment) calculator helps you calculate the amount you need to pay to the bank every month to repay your car loan. Using this calculator, you can make an informed decision about buying your dream car by planning your finances in advance.
How is Car Loan EMI Calculated?
The formula to calculate EMI is: E = P x r x (1+r)^n / ((1+r)^n - 1)
- P is the Principal Loan Amount
- r is the monthly interest rate (Annual Rate / 12 / 100)
- n is the loan tenure in months