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Car Loan EMI Calculator

Monthly EMI:

32989/month
Principal Amount: 1500000
Total Interest: 479335
Total Payable: 1979335

Amortization Schedule

Month Opening Balance Monthly Interest Monthly Principal Outstanding Balance
1 1500000.0 14375.000000000002 18613.91106230575 1481386.0889376942
2 1481386.0889376942 14196.616685652903 18792.294376652848 1462593.7945610413
3 1462593.7945610413 14016.523864543315 18972.387197762437 1443621.4073632788
4 1443621.4073632788 13834.70515389809 19154.20590840766 1424467.201454871
5 1424467.201454871 13651.144013942516 19337.767048363232 1405129.4344065078
6 1405129.4344065078 13465.823746395701 19523.08731591005 1385606.3470905977
7 1385606.3470905977 13278.727492951562 19710.183569354187 1365896.1635212435
8 1365896.1635212435 13089.838233745251 19899.0728285605 1345997.090692683
9 1345997.090692683 12899.138785804878 20089.772276500873 1325907.318416182
10 1325907.318416182 12706.611801488412 20282.299260817337 1305625.0191553647
11 1305625.0191553647 12512.239766905579 20476.67129540017 1285148.3478599645
12 1285148.3478599645 12316.005000324662 20672.906061981088 1264475.4417979834
13 1264475.4417979834 12117.889650564008 20871.02141174174 1243604.4203862415
14 1243604.4203862415 11917.87569536815 21071.035366937598 1222533.385019304
15 1222533.385019304 11715.944939768331 21272.96612253742 1201260.4188967666
16 1201260.4188967666 11512.079014427349 21476.8320478784 1179783.5868488883
17 1179783.5868488883 11306.259373968514 21682.651688337235 1158100.935160551
18 1158100.935160551 11098.467295288614 21890.443767017136 1136210.4913935338
19 1136210.4913935338 10888.6838758547 22100.227186451048 1114110.2642070828
20 1114110.2642070828 10676.890031984545 22312.021030321204 1091798.2431767615
21 1091798.2431767615 10463.066497110633 22525.84456519512 1069272.3986115665
22 1069272.3986115665 10247.193820027513 22741.71724227824 1046530.6813692882
23 1046530.6813692882 10029.252363122347 22959.658699183405 1023571.0226701049
24 1023571.0226701049 9809.222300588506 23179.688761717243 1000391.3339083876
25 1000391.3339083876 9587.083616622049 23401.827445683703 976989.5064627039
26 976989.5064627039 9362.816103600913 23626.094958704838 953363.411503999
27 953363.411503999 9136.399360246658 23852.51170205909 929510.89980194
28 929510.89980194 8907.812789768592 24081.098272537158 905429.8015294028
29 905429.8015294028 8677.035597990112 24311.875464315635 881117.9260650872
30 881117.9260650872 8444.046791457087 24544.864270848662 856573.0617942385
31 856573.0617942385 8208.82517552812 24780.08588677763 831792.9759074609
32 831792.9759074609 7971.349352446501 25017.56170985925 806775.4141976016
33 806775.4141976016 7731.597719393683 25257.313342912064 781518.1008546895
34 781518.1008546895 7489.548466524108 25499.36259578164 756018.7382589078
35 756018.7382589078 7245.179574981201 25743.73148732455 730275.0067715832
36 730275.0067715832 6998.46881489434 25990.44224741141 704284.5645241719
37 704284.5645241719 6749.393743356648 26239.517318949103 678045.0472052228
38 678045.0472052228 6497.9317023833855 26490.979359922363 651554.0678453004
39 651554.0678453004 6244.059816850797 26744.851245454953 624809.2165998454
40 624809.2165998454 5987.754992415186 27001.156069890563 597808.0605299548
41 597808.0605299548 5728.993913412068 27259.91714889368 570548.1433810611
42 570548.1433810611 5467.75304073517 27521.15802157058 543026.9853594906
43 543026.9853594906 5204.008609695119 27784.90245261063 515242.08290688
44 515242.08290688 4937.736627857601 28051.17443444815 487190.9084724319
45 487190.9084724319 4668.912872860806 28319.998189444945 458870.91028298694
46 458870.91028298694 4397.512890211959 28591.39817209379 430279.51211089315
47 430279.51211089315 4123.511991062726 28865.399071243024 401414.11303965014
48 401414.11303965014 3846.8852499633144 29142.025812342436 372272.0872273077
49 372272.0872273077 3567.6075025950327 29421.303559710715 342850.783667597
50 342850.783667597 3285.653343481138 29703.25771882461 313147.5259487724
51 313147.5259487724 3000.9971236757356 29987.913938630016 283159.61201014236
52 283159.61201014236 2713.612948430531 30275.29811387522 252884.31389626715
53 252884.31389626715 2423.474674839227 30565.43638746652 222318.87750880062
54 222318.87750880062 2130.5559094593395 30858.35515284641 191460.52235595422
55 191460.52235595422 1834.8300059112282 31154.08105639452 160306.4412995597
56 160306.4412995597 1536.270062454114 31452.640999851636 128853.80029970806
57 128853.80029970806 1234.848919538869 31754.06214276688 97099.73815694118
58 97099.73815694118 930.5391573373531 32058.371904968397 65041.36625197278
59 65041.36625197278 623.3130932480725 32365.59796905768 32675.7682829151
60 32675.7682829151 313.14277937793645 32675.768282927813 0.0

What is Car Loan EMI?

Car Loan EMI refers to the monthly installment you pay to the lender for your car loan. It includes both the principal and the interest components, repaid over a fixed tenure. A longer tenure reduces the EMI but increases the total interest cost.

How is EMI Calculated?

EMI = [P x R x (1 + R)^N] / [(1 + R)^N - 1]
  • P = Loan amount
  • R = Monthly interest rate
  • N = Loan tenure in months

Why Use an EMI Calculator?

Using an EMI calculator helps you budget better by giving a clear picture of your repayment commitments. It helps you evaluate different loan offers and make informed decisions.

What is a Loan Amortization Schedule?

A loan amortization schedule provides a monthly breakdown of the interest and principal portions of your EMI. It helps track your loan progress and plan for early repayments.

Types of Car Loan Repayment Plans

  • Standard EMI: Fixed EMI throughout the loan tenure.
  • Balloon Payment: Lower EMIs with a larger lump sum at the end.
  • Step-Up EMI: EMIs increase over time, ideal if income is expected to grow.

How to Use the Car Loan EMI Calculator

Input the loan amount, annual interest rate, and loan tenure in months. The calculator instantly shows your EMI, total interest payable, and total repayment amount.

Frequently Asked Questions (FAQs)

Can I calculate EMI for a used car loan?

Yes, the EMI calculator can be used for both new and used car loans. Ensure you input the accurate loan amount and interest rate for best results.

Is prepayment allowed on car loans?

Prepayment is usually allowed by most lenders with or without a small penalty. It helps reduce overall interest burden.

What happens if I miss a car loan EMI?

Missing a car loan EMI can attract penalties, lower your credit score, and may lead to repossession if not addressed in time.

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