🚗 Car Loan EMI Calculator
Calculate your monthly EMI (equated monthly installment) for a car loan based on the loan amount, interest rate, and repayment period.
What is a car loan EMI
An EMI, or equated monthly installment, is the fixed amount you pay each month to repay a car loan. Every EMI payment is split between principal (the amount you borrowed) and interest charged on the outstanding balance.
How the EMI is calculated
This calculator uses the standard amortizing loan formula: EMI = P x r x (1+r)^n / ((1+r)^n – 1), where P is the loan principal, r is the monthly interest rate (the annual rate divided by 12 and by 100), and n is the total number of monthly payments. Early payments are weighted more toward interest, while later payments are weighted more toward principal, though the EMI itself stays constant.
This tool is for general planning and education. Your actual lender may add processing fees, taxes, or insurance costs that change the real total cost of the loan.