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Finance & Money Calculator
Illustrative math, reviewed October 2026 — not financial, tax, or legal advice. Verify rates and slabs before you sign or file.
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A car loan EMI calculator starts from the amount actually financed — ex-showroom plus registration and insurance, minus your down payment — because dealers quote an on-road price while the EMI runs only on what you borrow. Finance ₹8,00,000 at 9% over 5 years (60 months) and the EMI is ₹16,607 with ≈ ₹1,96,401 of total interest. Typical car-loan tenures run 3–7 years, far shorter than housing.
Enter the financed figure (not the sticker), each offer's rate, and months — 5 years is 60. Run the dealer's subvention scheme and the bank's offer back to back: the lower EMI usually carries the higher lifetime interest once tenures differ. Since cars depreciate from day one, a longer tenure can leave you paying long after value has fallen — compare total interest, not just the monthly figure.
It does not add subvention, hypothecation, or bundled insurance to principal, and it does not model depreciation — a longer tenure can outlast the car's market price, but that comparison is yours to make, not this formula's.
Illustrative math only — not financial advice or a bank quote.
Tax and statutory rules change; verify with a professional.
Only if you are financing the entire on-road amount. Subtract any down payment, and do not include items you are paying in cash. Insurance added to the loan increases principal and interest.
Over a long tenure interest compounds on the outstanding balance, so a 20-year home loan can pay back well over the borrowed amount. Shortening the tenure or prepaying principal is what cuts total interest, not a lower EMI.
Rarely to the rupee. Banks add fees and may use a different day-count or reset date. Use this to compare offers, then trust the amortisation schedule the lender issues.
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