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About this tool
Car loan EMI, total interest and a year-by-year amortisation schedule with down payment, tenure and processing fees.
Car Loan EMI Calculator turns an on-road price, down payment, interest rate and tenure into the exact monthly EMI banks would charge, using the standard reducing-balance formula. It also shows total interest, the split between principal and interest, and a year-by-year amortisation schedule, plus one-time costs like the processing fee and upfront insurance so you see the real cash outgo. Useful for anyone comparing dealer finance quotes against a bank or NBFC offer before signing.
Open Car Loan EMI Calculator on AltFTool — it loads instantly in your browser.
Enter the values you already know.
Fine-tune the options to match your scenario.
Read the result and use it in your planning or reporting.
Uses reducing-balance EMI — the same method used in a sanction letter, not a flat-rate approximation.
Year-wise principal, interest and closing balance show exactly when the loan starts eating into principal.
Down payment, processing fee and upfront insurance are added on top of the repayment total.
EMI = P x r x (1+r)^n / ((1+r)^n - 1), where P is the loan amount, r is the monthly interest rate (annual rate divided by 12 and by 100) and n is the number of monthly instalments. Interest is charged on the reducing balance, so the interest portion of each EMI falls over time.
Most lenders finance 80-90% of the on-road or ex-showroom price, so a 10-20% down payment is typical. A larger down payment reduces the financed amount, the EMI and the total interest, but keep enough cash aside for registration, insurance and an emergency buffer.
A flat rate charges interest on the full original principal for the whole tenure, so a 6% flat rate is roughly equivalent to an 11-12% reducing rate. Always convert both quotes to EMI and total interest before comparing.
It adds the processing fee and any upfront add-ons you enter to the total cash outgo, but it does not compute GST on the fee, documentation charges or hypothecation costs. Treat the output as an informational estimate and confirm the final figures in your sanction letter.
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