EMI Mitra

Vehicle Loan EMI Calculator (Car / Bike)

Get your car or bike loan EMI in seconds. Enter the on-road price, down payment, interest rate and tenure to see your monthly EMI and the total interest you'll pay over the loan period.

🚀 Open the Vehicle Loan EMI Calculator (Car / Bike) →

Formula

EMI = P × R × (1+R)^N / ((1+R)^N − 1). Vehicle loan rates in India typically range from 9% to 14% p.a.

Example

₹8,00,000 car loan @ 10.5% p.a. for 5 years:
• EMI ≈ ₹17,189/month
• Total interest ≈ ₹2,31,357

Frequently Asked Questions

What is the typical car loan interest rate in India?

Car loan rates range from 8.75% to 13.5% p.a. depending on the lender, vehicle type (new/used) and your CIBIL score.

What is the maximum tenure for a car loan?

Most banks offer up to 7 years for new cars and 5 years for used cars.

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