Rate of Interest (P.a)
Loan Tenure (Months)
A car loan EMI calculator helps you calculate the EMI (Equated Monthly Instalment) you would have to pay to repay your car loan. Calculating your loan EMI beforehand could help you plan your finances in a better way.
Use Navi Car Loan EMI Calculator to save time and get accurate results. This convenient tool carries a user-friendly design and helps you calculate your car loan EMI in a quick and efficient manner.
Your car loan EMI depends on three factors – the loan tenure, the applicable interest rate, and the principal amount. You can calculate your car loan EMIs manually, but it is a time-consuming process and is prone to errors. Instead, you can use the Navi car loan calculator to accurately calculate the EMI in a few seconds.
Use the following steps to calculate your car loan EMI:
The formula to calculate the car loan EMI is as follows:
EMI = P × r × (1 + r)n/((1 + r)n – 1) where,
P = loan amount
r = interest rate
n = tenure in number of months
For example, for a principal loan amount of ₹1,00,000, 8% interest rate and a tenure of 4 years, the EMI will be ₹2,441 per month.
Looking to buy a new car and worried about how to apply for a car loan? Read this blog & learn how to apply for a car loan, its pre-requisites & other formalities
Unsecured loans could help you during financial emergency. Click here for a complete guide on unsecured loans, their features, interest rates, and more.
Looking for personal loan for car? Navi provides personal loans up to 20 Lakh for your needs. Check features, benefits and apply now!