₹3.7 L total interest · ₹13.7 L total repayable
A ₹10 lakh car loan at a typical rate of 9.5% over 7 years costs about ₹16,344 per month. Across the full 7 years you repay ₹13,72,894 — ₹3,72,894 of it interest. Your actual EMI depends on the exact rate and tenure your lender offers, so use the table below.
EMI by interest rate & tenure
Monthly EMI for a ₹10 lakh loan. The highlighted cell is the typical car loan rate and tenure.
| Rate \ Tenure | 3 yr | 5 yr | 7 yr |
|---|---|---|---|
| 9% | ₹31,800 | ₹20,758 | ₹16,089 |
| 9.5% | ₹32,033 | ₹21,002 | ₹16,344 |
| 10% | ₹32,267 | ₹21,247 | ₹16,601 |
| 10.5% | ₹32,502 | ₹21,494 | ₹16,861 |
| 11% | ₹32,739 | ₹21,742 | ₹17,122 |
Just 0.5% lower on this ₹10 lakh loan saves you about ₹21,412 over 7 years. Always compare offers from several lenders before signing.
Run your exact EMI →How the EMI is calculated
EMI uses the standard reducing-balance formula: EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P is the loan amount (₹10 lakh), r is the monthly interest rate (annual ÷ 12), and n is the number of months (7 × 12 = 84). Early EMIs are mostly interest; later ones are mostly principal. Figures exclude processing fees, insurance and prepayment. See the full loan & EMI calculator for an amortisation schedule.
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