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.

EMI Calculator for Car

  • Loan EMI

    Rs. pm

  • Total Interest Payable


  • Total Amount Payable


There has never been a better time to be self-employed or in a salaried position because the average cost of a dream car has dropped to an almost affordable level. You don’t need to be rich or save a lot to buy your first car, unlike a few decades ago. A new auto loan can help you get into your ideal car faster.

Car loans can be pre-approved regardless of credit or income, but there are limits on both the length of the loan and the total amount you can borrow.

Finnable’s Car Loans allow you to finance the purchase of a brand-new car with a competitive interest rate, low processing fee, a repayment term of up to 5 years, and a higher loan-to-value ratio.

The Equated Monthly Installment (EMI) option is available to help make loan repayment more manageable. To make an informed decision about whether or not to apply for a Car Loan, it is a good idea to use a car loan eligibility calculator.

Car Loan Eligibility Calculator

A car loan EMI calculator is available from several banks and third-party websites, which enables you to determine the required Equated Monthly Instalments (EMIs). Finnable’s Car Loan EMI Calculator is user-friendly and cost-free.

To get a rough idea of how much you’ll have to pay every month toward your car loan, you can use the EMI Calculator. Using Finnable’s online new and used car loan EMI Calculator, you can determine your monthly payments and view a comprehensive loan repayment table that includes important information like the principal and interest paid, as well as the remaining balance following each payment.

How to Use Car Loan Calculator

  • Input the requested auto loan amount, interest rate, and loan term, then click the “check eligibility” option.
  • Your estimated monthly payments for your car loan will update in the Car Loan EMI Calculator accordingly.
  • In addition, make sure to check the amortization schedule, which details how much will be paid toward interest and principal each year of the loan.
  • Use the “Support” option if you need any help or want more details about our loans or how to apply.

Plan your loans more easily with Finnable

Your loan’s monthly payment will depend heavily on the interest rate and the length of time you take out the loan. If the interest rate on your loan is high, your monthly payment will also be high. Your monthly payment (EMI) will decrease if you choose a longer repayment period, and likewise for shorter terms. If you’re taking out a car loan, extending the length of your loan’s repayment period can make it easier to afford the payments.

Keep in mind that a greater percentage of your monthly Car Loan payment goes toward interest at the beginning of the loan’s term, and then shifts to principle as you make more payments. This is because, as a borrower, you benefit from the fact that EMIs are calculated using the declining balance technique.

So what are you waiting for? Check car loan eligibility today with Finnable and buy your dream car today!

FAQ's About Car EMI Calculator

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.

The principal and interest are combined to form the Equated Monthly Instalment (or EMI). Interest accrues on top of the loan's principal, so car payments equal principal plus interest. The Equated Monthly Instalment (EMI) is a predetermined amount that you pay back over the life of your loan.

If you want to know how much your monthly car payment will be, the Car Loan EMI Calculator on Finnable can tell you in seconds.

Your car loan's payback timeline can be visualized in a table, called a car loan repayment schedule. You can see the principal loan amount, the EMI, the interest payment, and the balance that is still owed after each EMI payment on your car loan.

The online car loan EMI calculator is simple to use. This service is completely free of charge, and you can use it as much as you like. Whereas performing EMI calculations by hand can be time-consuming and error-prone, this method yields accurate results in an instant. You can receive different outcomes by modifying the loan amount, loan duration, and interest rates that you input.

Partially paying off a car loan is possible, but there will be fees associated with doing so. Paying off your Car Loan in full (foreclosure) is another option. Once again, a foreclosure will incur fees.

Below, you'll find a breakdown of the many options for making your monthly auto loan payment:

  • ECS mandate
  • Post-dated cheques
  • Standing Instructions


Finnable's car loans have many advantages.

  • A Finnable Car Loan can be obtained for amounts as low as Rs.50,000 for terms as long as 5 years.
  • Those who have been pre-approved for a loan through Finnable are exempt from providing further details therefore the process of obtaining a loan will be much quicker.