Vehicle loan EMI calculator
Work out the monthly installment for any car, bike or scooter loan in INR. Adjust the down payment and tenure to find an EMI that fits your budget, then browse vehicles in that price range.
EMI questions, answered
How is vehicle loan EMI calculated?
EMI = P x r x (1+r)^n / ((1+r)^n - 1), where P is the loan amount, r is the monthly interest rate (annual rate / 12 / 100) and n is the number of monthly installments.
Does a bigger down payment reduce my EMI?
Yes. The EMI is calculated on the loan amount (vehicle price minus down payment), so every extra rupee of down payment reduces both your EMI and the total interest you pay.
What interest rate should I expect for a used vehicle loan?
Used vehicle loans usually carry a higher rate than new vehicle loans. Rates vary by lender, your credit history and the vehicle's age - compare at least two or three lenders before deciding.
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