Car & Bike EMI Calculator
Work out the monthly EMI on a car or two-wheeler loan in seconds. Pick a vehicle or just type a price, set your down payment and tenure, and the calculator shows the EMI, the total interest and the total cost of the purchase. Nothing needs to be selected for a result — it opens with sensible defaults.
Tenure runs from 6 to 360 months (30 years), because buyers increasingly take 12-15 year loans on premium cars. Longer tenures cut the monthly figure but raise the interest; the year-wise amortization table shows exactly where the money goes.
Indicative bank rates
| Bank | Rate (p.a.) | Processing fee | Rating |
|---|
| HDFC Bank | 8.75% | ₹3,500 | 4.4 |
| ICICI Bank | 8.90% | ₹2,500 | 4.3 |
| SBI | 9.05% | ₹0 | 4.2 |
| Axis Bank | 9.20% | ₹4,000 | 4.1 |
| Kotak | 9.35% | ₹3,000 | 4 |
| Bank of Baroda | 9.50% | ₹1,500 | 4 |
Rates above are indicative and vary with the bank, tenure and your profile. Use the calculator to model each one against your own down payment.
Before you apply
Frequently asked questions
How is the EMI calculated?EMI = P x r x (1+r)^n / ((1+r)^n - 1), where P is the loan amount, r the monthly interest rate and n the number of months. The calculator runs that live as you move the sliders.
What down payment should I pay?20-25% up front usually gets a better rate and keeps the loan below the car's depreciating value.
Does a longer tenure cost less?No. A longer tenure lowers the monthly EMI but raises the total interest. Compare total payable, not just the EMI.
Can I prepay?Most Indian lenders allow part-prepayment after 6-12 EMIs. The prepayment box estimates the interest you would save.
Are the bank rates guaranteed?No. They are indicative and change with the bank, tenure and your profile. Confirm the final rate with the lender.
Do you use my credit score?No. The calculator only uses the numbers you enter.