Car Loan EMI Calculator

Before availing a car loan, it is imperative that you use loan EMI calculator to check the amount you need to pay as EMI to the lender. 

Finnable’s loan EMI calculator helps you understand not just your car loan EMI but also the interest amount that you will be paying on the car loan. A car loan EMI calculator is similar to a personal loan EMI calculator. Borrowers will need to know the principal loan amount and the tenure of the car loan. The percentage of interest rate will be provided by the lender.
he cost or compromising on the budget.

Car Loan EMI Calculator

INR
%
  • Loan EMI

    Rs. pm

  • Total Interest Payable

    Rs

  • Total Amount Payable

    Rs

FAQs

The equated monthly installment that is paid to the lender every month on a pre-decided date throughout the tenure of the car loan is the car loan EMI. To know the car loan EMI, borrowers can use an online car loan EMI calculator to find out the amount that is needed to be paid.

The customer will have to do an e-mandate to repay the loan, which will be in effect for the number of months the customer is required to pay the EMI or the tenure of the loan. The EMI repayment amount will then directly get deducted from the customer's account.

If borrowers pay extra on their car loan EMI, the extra amount is deducted from their principal outstanding and adjusted in the subsequent EMI’s going forward in the tenure of the loan. It can also reduce the interest burden on the loan. A point to note is, that early repayment can be done only after 6 months of availing of the loan.

    1. Early repayment is possible only after 6 months of availing the loan. Do keep in mind there are penalties that are applicable when foreclosing an unsecured personal loan. When foreclosing a personal loan, penalties are applicable on the balance amount of the loan left and not the entire principal sum. At Finnable, the penalties are as under -

    Beyond 6 months the penalty will be :

    After 6 months - 4.5%

    6-12 months - 4%

    12-24 months - 3.5%

    24-36 months - 3%

    This is applicable on the balance loan amount.

Generally, there will be bounce charges of Rs.450 and 1-2% penalty charge on the outstanding amount.