Auto, Car and Bike Loan Calculator
Use this simple calculator to calculate how much EMI and Interest you will need to pay in Indian Rupees (INR) for any motor loans such as a car loan or bike loan you have taken.
Price of the car
Enter the cost price or final on road price of the car or bike you are planning to buy
Down payment amount
Enter how much you plan to pay initially as downpayment for the loan.
How much rupees you plan to take as loan. This is basically the cost of vehicle minus your down payment amount. You will get an error in calculation if total loan amount is not equal to downpayment+loan.
Number of months
This is how long you plan to take the loan in months. Eg: 60 months = 5 years.
Annual Interest rate
This is the interest rate you are going to be paying for the loan
How to use the auto loan calculator
Once you have entered all the above fields, click on the blue button “Calc”. This will calculate your car/bike loan details in Indian Rupees (INR). Once this is calculated, you will be able to see the total Payment amount, this is the monthly EMI you need to pay back for the car or bike loan you have taken.
You will also be able to see the total interest for this loan. The last field is the overall money you need to payback (Principal + Interest).
Other features in the auto loan calculator
- Payment Schedule: This will show the monthly EMI breakup along with how much of the EMI goes towards Principal and how much of it is for the interest throughout the loan tenure.
- Print: This feature allows you to take a print of the details for easier reference
- Charts: This gives you a visual representation of your loan, how much interest and principal needs to be paid and other interesting details
Car loan interest rates can be anywhere between 7.5% pa to 15% pa. Reputed banks such as SBI offer 8-9%pa. Where as third party lenders offer between 11% to 15% per annum.