Calculate your car loan EMI, total interest paid, and complete repayment schedule for any vehicle loan.
EMI = [P × r × (1+r)^n] / [(1+r)^n − 1]. A higher down payment reduces your loan amount and total interest. A shorter tenure increases EMI but reduces total interest paid significantly.
Car loan interest rates in India range from 8.5% to 15% per annum. Bank rates are generally lower than NBFC rates. Your credit score plays a major role in the rate you get.