EMI Calculator 2026
Calculate your loan EMI, interest, and repayment schedule
₹
₹1.0 L₹80.0 L
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EMI Calculator Summary
Loan EMI
₹16,607
Total Interest Payable Payable
₹1.96 L
Total Payment (Principal + Interest)
₹9.96 L
nine lakh ninety six thousand four hundred and one rupees only
EMI Payment / Year
Year: 2026
Principal Paid: ₹21,293
Interest Paid: ₹11,920
Total Payment: ₹33,213
Your Repayment/Breakup Details (Monthly)
Your debt repayment schedule in regular instalments over a period of time.
| Year | Principal Amount | Total Interest | Total Amount | Balance |
|---|---|---|---|---|
| 2026▼ | ₹21,293 | ₹11,920 | ₹33,213 | ₹7,78,707 |
| Nov | ₹10,607 | ₹6,000 | ₹16,607 | ₹7,89,393 |
| Dec | ₹10,686 | ₹5,920 | ₹16,607 | ₹7,78,707 |
| 2027▶ | ₹1,34,661 | ₹64,619 | ₹1,99,280 | ₹6,44,046 |
| 2028▶ | ₹1,47,294 | ₹51,987 | ₹1,99,280 | ₹4,96,752 |
| 2029▶ | ₹1,61,111 | ₹38,169 | ₹1,99,280 | ₹3,35,641 |
| 2030▶ | ₹1,76,224 | ₹23,056 | ₹1,99,280 | ₹1,59,417 |
| 2031▶ | ₹1,59,417 | ₹6,650 | ₹1,66,067 | ₹0 |
Formula used by EMI Calculator
R ( 0.00750 ) = Interest( 9 % )/12/100
EMI = [P * R * (1+R)n] / [((1+R)n)-1]
EMI ( ₹16,607 ) = [₹8,00,000 * 0.00750 * (1+0.00750)^60] / [((1+0.00750)^60)-1]
Monthly EMI
=PMT(rate ( 0.0075 ), nper ( 60 ), pv ( ₹8,00,000 )) = ₹16,607Interest Paid for first month
=IPMT(pv ( ₹8,00,000 ), pmt ( ₹16,607 ), rate ( 0.0075 ), per ( 0 )) = ₹6,000Principal Paid for first month
=PPMT(rate ( 0.0075 ), per ( 0 ), nper ( 60 ), pv ( ₹8,00,000 )) = ₹10,607💻
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How is Car Loan EMI calculated?
Car loan EMI is calculated using standard monthly reducing balance amortization: EMI = P × r × (1+r)^n / ((1+r)^n - 1), where r is monthly interest rate and n is loan tenure in months.
What is the typical car loan tenure and interest rate in India?
Car loans in India typically range from 1 to 7 years with interest rates between 8.5% and 11% depending on credit score and new vs used vehicle type.