EMI Calculator
Monthly EMI
₹2,563
for 36 months at 9.5% a year
- Principal87%
- Interest13%
- Vehicle price
- ₹1,00,000
- Down payment
- ₹20,000
- Loan amount
- ₹80,000
- Processing fee (paid upfront)
- ₹800
- Total interest
- ₹12,268
- Total payable to the lender
- ₹92,268
- Total cost of the vehicle
- ₹1,13,068
If you change the tenure
| Tenure | EMI | Total interest |
|---|---|---|
| 12 months | ₹7,015 | ₹4,180 |
| 24 months | ₹3,673 | ₹8,152 |
| 36 months | ₹2,563 | ₹12,268 |
| 48 months | ₹2,010 | ₹16,480 |
| 60 months | ₹1,680 | ₹20,800 |
| 84 months | ₹1,308 | ₹29,872 |
Year by year
| Year | Paid | Principal | Interest | Balance |
|---|---|---|---|---|
| Year 1 | ₹30,756 | ₹24,191 | ₹6,565 | ₹55,809 |
| Year 2 | ₹30,756 | ₹26,592 | ₹4,164 | ₹29,216 |
| Year 3 | ₹30,741 | ₹29,216 | ₹1,525 | ₹0 |
Good to know
- Compared with a 60-month loan, this tenure saves ₹8,532 in interest, at a higher monthly EMI.
- Ask the lender whether the rate is "flat" or "reducing". A flat rate costs much more than the same number on a reducing balance. This tool uses reducing balance.
- Check for prepayment or foreclosure charges before you sign, and whether insurance is being added to the loan.
Estimates for planning. Actual prices, rates and costs depend on your dealer, lender and usage.