# Car Loan EMI Calculator

Are you looking for car loan calculator? Use this tool to calculate how much per month emi you have to pay for buy your dream car. This calculator use for the calculation of SUV, MUV, Used Car, New Car etc. This calculator works for SBI, PNB, HDFC, ICICI, Axis Bank, Uco Bank, Union Bank, United Bank, Dena Bank, Magma Fincorp etc.

How this Car loan emi calculator works?

Simply insert your required car loan amount, Interest Rate & loan tenure period > It shows you the specific result related to your query instantly. Calculator shows you
Monthly Instalment (EMI)
Total Interest Amount
Total Amount (Principal + Interest) in results.

A user-friendly interface will let you modify the loan amount, tenure & interest rate to suit your preferences. Use this calculator to arrive at the EMI you are comfortable with. Also apply online through deal4loans for getting best offers!!!

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What is an EMI?

EMI or Equated Monthly Installment is the fixed amount that a borrower has to pay every month before a specified due date towards the loan amount which he/she borrow from the bank. Basically EMI’s are a combined part of Principal amount + Interest paid on loan amount. At the starting of loan you have to pay more interest. As the loan tenure progresses, the contribution towards interest repayment will reduce and the principal repayment portion will increase with the time.

### Formula of Calculating monthly car loan emi

Mathematically, EMIs are computed using the following formula

Monthly Instalment Amount = [ P x R X (1 + R) ^ N] / [ (1 + R) ^N - 1]

### Related Calculator Tools

 Car Loan Amount    Rs. Interest Rate % Per Annum Loan Tenure Years
 Loan Amount Rs. 3,00,000 Monthly Instalment (EMI) Rs. 6,448 Total Interest Amount Rs. 86,890 Total Amount (Principal + Interest) Rs. 3,86,890
 Year Principal Interest Balance Amount 1 Rs. 48,148 Rs. 29,228 Rs. 2,51,852 2 Rs. 53,455 Rs. 23,921 Rs. 1,98,397 3 Rs. 59,346 Rs. 18,030 Rs. 1,39,051 4 Rs. 65,885 Rs. 11,491 Rs. 73,166 5 Rs. 73,222 Rs. 4,228 Rs. 0
 Bank Name Interest Rate(New Car) Per Lac EMI (for 5 years) HDFC Bank 8.50% - 11.25% Rs. 2,052 - Rs. 2,187 State Bank of India (SBI) 9.00% - 9.70% Rs. 2,076 - Rs. 2,110 ICICI Bank 8.82% - 12.75% Rs. 2,067 - Rs. 2,263 Axis Bank 8.50% - 11.25% Rs. 2,052 - Rs. 2,187

For an example if you can take a loan amount a 5 lakh for 4 years at Interest Rate of 8.80%, than your emi calculations for the loan are as follows;

• Loan Amount = Rs. 5,00,000
• Monthly Installment (EMI) = Rs. 12,395
• Total Interest Amount = Rs. 94,964
• Total Amount (Principal + Interest) = Rs. 5,94,964

 Year Principal Interest Balance Amount 1 Rs. 109,069 Rs. 39,671 Rs. 390,931 2 Rs. 119,064 Rs. 29,676 Rs. 271,867 3 Rs. 129,974 Rs. 18,766 Rs. 141,893 4 Rs. 141,983 Rs. 6,855 Rs. 0

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