Car Loan EMI Calculator – SBI, HDFC, Axis, ICICI Bank, PNB

Car loan emi calculator: Calculate your emi in 3 easy steps within seconds on the basis of Interest rates, loan amount & No. of repayment period/tenure at emicalculator-India.com.

Everyone gets excited to buy the car and I am sure you would have the same feeling as its possession brings a great deal of happiness and satisfaction. Also, buying the car is not easy as one has to accumulate savings over the years and make a whole lot of sacrifices like cutting down the expenses on dining at costly restaurants, movies, etc. Cars are mostly purchased on the loan extended by banks across India. The list of banks include State Bank of India (SBI), HDFC Bank, ICICI Bank, Axis Bank, among others. But before you step out to take loan for buying the car, make sure you keep in mind financial aspects like equated monthly installments (EMIs), rate of interest, loan tenure, etc. Understanding the mathematics of all such aspects will help you choose the right car. We will demonstrate the car loan EMI calculator showing the car loan interest rate, monthly installments, interest amount, etc that you will have to pay on borrowed money from various banks to buy the car. So get ready to assess your financial viability to buy the car from the information stated below.

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Disclaimer: We do not provide Car Loans but help you to connect with banks to get best deals.
All loans are on sole discretion on the respective banks

Basic details of car loan

  • Car loan given up to 85-90% of the ex-showroom price
  • Ex-showroom price includes the charges that the dealer pays to obtain the car from the manufacturer and excise duty paid by it to the state government on the purchase.
  • On-road price of the car is the sum of ex-showroom price, RTO and insurance
  • Loan tenure ranges 3-7 years
  • Minimum take home salary or income is Rs 2.4 lacs per annum
  • Total job experience of 2 years
  • At least one year of experience with the current employer
  • If you are a self-employed self-professional, you need to be in the business for at least three years
  • Minimum annual income for salaried and self-employed professionals are 2.4 lacs and 4 lacs, respectively

Car Loan EMI Calculator

Calculate your car loan emi with the help of emi calculator.
Affordable cars

Loan Amount     Rs.
Interest Rate % Per Annum
Loan Tenure Years
Installment Date
Results
Loan Amount Rs. 5,00,000
Monthly Instalment (EMI) Rs. 10,550
Total Interest Amount Rs. 1,32,992
Total Amount (Principal + Interest) Rs. 6,32,992
Installment NoInstallment DateOpening BalanceEMIInterestPrincipal
201704/2017 To 12/2017Rs. 5,00,000Rs. 94,950Rs. 34,446Rs. 60,504
201801/2018 To 12/2018Rs. 4,39,496Rs. 1,26,600Rs. 38,797Rs. 87,803
Jan01/2017Rs. 4,39,496Rs. 10,550Rs. 3,553Rs. 6,997
Feb02/2017Rs. 4,32,499Rs. 10,550Rs. 3,496Rs. 7,054
Mar03/2017Rs. 4,25,445Rs. 10,550Rs. 3,439Rs. 7,111
Apr04/2017Rs. 4,18,334Rs. 10,550Rs. 3,382Rs. 7,168
May05/2017Rs. 4,11,166Rs. 10,550Rs. 3,324Rs. 7,226
Jun06/2017Rs. 4,03,940Rs. 10,550Rs. 3,265Rs. 7,285
Jul07/2017Rs. 3,96,655Rs. 10,550Rs. 3,206Rs. 7,344
Aug08/2017Rs. 3,89,311Rs. 10,550Rs. 3,147Rs. 7,403
Sep09/2017Rs. 3,81,908Rs. 10,550Rs. 3,087Rs. 7,463
Oct10/2017Rs. 3,74,445Rs. 10,550Rs. 3,027Rs. 7,523
Nov11/2017Rs. 3,66,922Rs. 10,550Rs. 2,966Rs. 7,584
Dec12/2017Rs. 3,59,338Rs. 10,550Rs. 2,905Rs. 7,645
201901/2019 To 12/2019Rs. 3,51,693Rs. 1,26,600Rs. 29,890Rs. 96,710
Jan01/2017Rs. 3,51,693Rs. 10,550Rs. 2,843Rs. 7,707
Feb02/2017Rs. 3,43,986Rs. 10,550Rs. 2,781Rs. 7,769
Mar03/2017Rs. 3,36,217Rs. 10,550Rs. 2,718Rs. 7,832
Apr04/2017Rs. 3,28,385Rs. 10,550Rs. 2,654Rs. 7,896
May05/2017Rs. 3,20,489Rs. 10,550Rs. 2,591Rs. 7,959
Jun06/2017Rs. 3,12,530Rs. 10,550Rs. 2,526Rs. 8,024
Jul07/2017Rs. 3,04,506Rs. 10,550Rs. 2,461Rs. 8,089
Aug08/2017Rs. 2,96,417Rs. 10,550Rs. 2,396Rs. 8,154
Sep09/2017Rs. 2,88,263Rs. 10,550Rs. 2,330Rs. 8,220
Oct10/2017Rs. 2,80,043Rs. 10,550Rs. 2,264Rs. 8,286
Nov11/2017Rs. 2,71,757Rs. 10,550Rs. 2,197Rs. 8,353
Dec12/2017Rs. 2,63,404Rs. 10,550Rs. 2,129Rs. 8,421
202001/2020 To 12/2020Rs. 2,54,983Rs. 1,26,600Rs. 20,078Rs. 1,06,522
Jan01/2017Rs. 2,54,983Rs. 10,550Rs. 2,061Rs. 8,489
Feb02/2017Rs. 2,46,494Rs. 10,550Rs. 1,992Rs. 8,558
Mar03/2017Rs. 2,37,936Rs. 10,550Rs. 1,923Rs. 8,627
Apr04/2017Rs. 2,29,309Rs. 10,550Rs. 1,854Rs. 8,696
May05/2017Rs. 2,20,613Rs. 10,550Rs. 1,783Rs. 8,767
Jun06/2017Rs. 2,11,846Rs. 10,550Rs. 1,712Rs. 8,838
Jul07/2017Rs. 2,03,008Rs. 10,550Rs. 1,641Rs. 8,909
Aug08/2017Rs. 1,94,099Rs. 10,550Rs. 1,569Rs. 8,981
Sep09/2017Rs. 1,85,118Rs. 10,550Rs. 1,496Rs. 9,054
Oct10/2017Rs. 1,76,064Rs. 10,550Rs. 1,423Rs. 9,127
Nov11/2017Rs. 1,66,937Rs. 10,550Rs. 1,349Rs. 9,201
Dec12/2017Rs. 1,57,736Rs. 10,550Rs. 1,275Rs. 9,275
202101/2021 To 12/2021Rs. 1,48,461Rs. 1,26,600Rs. 9,273Rs. 1,17,327
Jan01/2017Rs. 1,48,461Rs. 10,550Rs. 1,200Rs. 9,350
Feb02/2017Rs. 1,39,111Rs. 10,550Rs. 1,124Rs. 9,426
Mar03/2017Rs. 1,29,685Rs. 10,550Rs. 1,048Rs. 9,502
Apr04/2017Rs. 1,20,183Rs. 10,550Rs. 971Rs. 9,579
May05/2017Rs. 1,10,604Rs. 10,550Rs. 894Rs. 9,656
Jun06/2017Rs. 1,00,948Rs. 10,550Rs. 816Rs. 9,734
Jul07/2017Rs. 91,214Rs. 10,550Rs. 737Rs. 9,813
Aug08/2017Rs. 81,401Rs. 10,550Rs. 658Rs. 9,892
Sep09/2017Rs. 71,509Rs. 10,550Rs. 578Rs. 9,972
Oct10/2017Rs. 61,537Rs. 10,550Rs. 497Rs. 10,053
Nov11/2017Rs. 51,484Rs. 10,550Rs. 416Rs. 10,134
Dec12/2017Rs. 41,350Rs. 10,550Rs. 334Rs. 10,216
202201/2022 To 03/2022Rs. 31,134Rs. 31,650Rs. 505Rs. 31,145
Jan01/2017Rs. 31,134Rs. 10,550Rs. 252Rs. 10,298
Feb02/2017Rs. 20,836Rs. 10,550Rs. 168Rs. 10,382
Mar03/2017Rs. 10,454Rs. 10,550Rs. 85Rs. 10,465
Total:Rs. 6,33,000Rs. 1,32,989Rs. 5,00,011

You can choose from a list of affordable cars priced in the range of Rs 3-6 lacs. The list includes Renault Kwid, Maruti Suzuki Swift, Maruti Suzuki Celerio, Maruti Suzuki Ritz, Maruti Suzuki Wagon R, Hyundai Grand I10, Hyundai i10, Ford Figo, Tata Indica eV2, Nissan Micra, among others. We will discuss in-depth regarding the ex-showroom prices, fees and charges as well as the EMIs that you will have to pay on loan that you will take from banks to buy the cars mentioned above. First start with Renault Kwid, the most affordable car of the lot.

Renault Kwid

  • Ex-showroom price-Rs Rs 2,62,113 (New Delhi)
  • Registration charges-Rs 13,198
  • Insurance-Rs 10,768
  • On-road price-Rs 2,96,749
  • Extended warranty-Rs 10,670
  • Down Payment-Rs 30K-35K

Table showing EMI calculator on Renault Kwid on take home salary of Rs 20,000 per month

Banks Min Loan Max Loan Max Tenure Rate of Interest EMI Total Interest Total Amount
SBI Rs 1 lac Rs 2.23 lacs 5 years 8.70% Rs 4,597 Rs 52,830 Rs 2,75,803
ICICI Bank Rs 1 lac Rs 1.9 lacs 5 years 10.00% Rs 4,037 Rs 52,216 Rs 2,42,216
HDFC Bank Rs 1 lac Rs 2.3 lacs 5 years 9.00% Rs 4,774 Rs 56,465 Rs 2,86,465
Axis Bank Rs 1 lac Rs 2.4 lacs 5 years 11.00% Rs 5,218 Rs 73,091 Rs 3,13,091

Note- EMIs, rate of interest, maximum loan and tenure will differ according to the income and repayment capacity. Also the loan tenure can increase depending upon your income.
Maruti Suzuki Celerio

  • Ex-showroom Price- Rs 4,03,139 (New Delhi)
  • Registration Charges-Rs 16,126
  • Insurance-Rs 14,110
  • On Road price-Rs 4,33,375
  • Down Payment-Rs 40314

Table showing EMI calculator on Maruti Suzuki Celerio on take home salary of Rs 20,000 per month

Banks Min Loan Max Loan Max Tenure Rate of Interest EMI Total Interest Total Amount
SBI Rs 1 lac Rs 3.42 lacs 5 years 8.70% Rs 7,050 Rs 80,980 Rs 4,22,980
ICICI Bank Rs 1 lac Rs 2.9 lacs 5 years 10.00% Rs 6,162 Rs 79,699 Rs 3,69,699
HDFC Bank Rs 1 lac Rs 3.4 lacs 5 years 9.00% Rs 7,058 Rs 83,470 Rs 4,23,470
Axis Bank Rs 1 lac Rs 3.7 lacs 5 years 11.00% Rs 8,045 Rs 1,12,682 Rs 4,82,682

Note- EMIs, rate of interest, maximum loan and tenure will differ according to the income and repayment capacity. Also the loan tenure can increase depending upon your income.
Maruti Suzuki Swift

  • Ex-showroom price-Rs 4,71, 613 (New Delhi)
  • Registration Charges-Rs 18, 865
  • Insurance-Rs 16,506
  • On-road price-Rs 5,06,984
  • Down Payment-Rs 47,161

Table showing EMI calculator on Maruti Suzuki Swift on take home salary of Rs 20,000 per month

Banks Min Loan Max Loan Max Tenure Rate of Interest EMI Total Interest Total Amount
SBI Rs 1 lac Rs 4.24 lacs 5 years 8.70% Rs 8,740 Rs 1,00,396 Rs 5,24,396
ICICI Bank Rs 1 lac Rs 3.6 lacs 5 years 10.00% Rs 7,649 Rs 98,936 Rs 4,58,936
HDFC Bank Rs 1 lac Rs 3.85 lacs 5 years 9.00% Rs 7,992 Rs 94,518 Rs 4,79,518
Axis Bank Rs 1 lac Rs 4.3 lacs 5 years 11.00% Rs 9,349 Rs 1,30,955 Rs 5,60,955

Note- EMIs, rate of interest, maximum loan and tenure will differ according to the income and repayment capacity. Also the loan tenure can increase depending upon your income.

Hyundai Grand i10

  • Ex-showroom Price-Rs 5,04,456 (New Delhi)
  • Registration Charges-Rs 20,178
  • Insurance-Rs 17,656
  • On Road price-Rs 5,42,290
  • Down Payment-Rs 48477

Table showing EMI calculator on Hyundai Grand i10 on take home salary of Rs 20,000 per month

Banks Min Loan Max Loan Max Tenure Rate of Interest EMI Total Interest Total Amount
SBI Rs 1 lac Rs 4,28 lacs 5 years 8.70% Rs 8,822 Rs 1,01,343 Rs 5,29,343
ICICI Bank Rs 1 lac Rs 3.8 lacs 5 years 10.00% Rs 8,074 Rs 1,04,433 Rs 4,84,433
HDFC Bank Rs 1 lac Rs 4.05 lacs 5 years 9.00% Rs 8,407 Rs 99,428 Rs 5,04,428
Axis Bank Rs 1 lac Rs 4.6 lacs 5 years 11.00% Rs 10,002 Rs 1,40,091 Rs 6,00,091

Note- EMIs, rate of interest, maximum loan and tenure will differ according to the income and repayment capacity. Also the loan tenure can increase depending upon your income.

Hyundai i10

  • Ex-showroom price-Rs 4,29,726 (New Delhi)
  • Registration charges-Rs Rs 21,690
  • Insurance-Rs Rs 14,278
  • On road price-Rs 4,68,439
  • Other charges-Rs 2,745
  • Down Payment-Rs 42,973


Table showing EMI calculator on Hyundai i10 on take home salary of Rs 20,000 per month

Banks Min Loan Max Loan Max Tenure Rate of Interest EMI Total Interest Total Amount
SBI Rs 1 lac Rs 3.65 lacs 5 years 8.70% Rs 7,524 Rs 86,426 Rs 4,51,426
ICICI Bank Rs 1 lac Rs 3.3 lacs 5 years 10.00% Rs 7,012 Rs 90,691 Rs 4,20,691
HDFC Bank Rs 1 lac Rs 3.55 lacs 5 years 9.00% Rs 7,369 Rs 87,153 Rs 4,42,153
Axis Bank Rs 1 lac Rs 3.9 lacs 5 years 11.00% Rs 8,480 Rs 1,18,773 Rs 5,08,773

Note- EMIs, rate of interest, maximum loan and tenure will differ according to the income and repayment capacity. Also the loan tenure can increase depending upon your income.
Fees & Charges
After knowing the eligible loan amount, EMI and interest, now discuss the fees and charges one has to pay while taking car loan from the banks mentioned above. As fees and charges differ across banks, we will discuss the same separately for the select banks.
State Bank of India Car loan

  • Processing fee charged – N.A
  • No charges on pre-payment penalty, foreclosure
  • Other charges as applicable by the bank

ICICI Bank Car Loan

  • Processing fees are charged – Rs.2500/- to Rs.5000/-
  • Part prepayment allowed only twice during the loan tenure and once in a year
  • Part prepayment not allowed for cases with loan period up to 6 months
  • 6% of loan amount for cases with period of 7 to 12 months
  • 5% of loan amount for cases with period of 13 to 24 months
  • 3% of loan amount for cases with period more than 24 months
  • Minimum prepayment amount should be equivalent to one EMI
  • Maximum prepayment amount should be 25% of principal outstanding
  • CIBIL report charges of Rs 50
  • Registration Certificate Collection Charges of Rs 350
  • Documentation charges of Rs 350
  • Late payment penalty of 2% per month on outstanding amount
  • Swap charges of Rs 500 per transaction
  • Cheque bounce charges of Rs 500 per transaction
  • Duplicate No Objection Certificate (NOC)/No Due Certificate (NDC) charges of Rs 500

HDFC Bank Car Loan

  • Processing fee – 0.4% of Loan Amount or Rs.10000, whichever is lower.
  • 5% on the part payment amount in case part prepayment is within 13-24 months from 1st EMI
  • 3% on the part payment amount in case part prepayment after 24 months from 1st EMI
  • Late payment penalty of 2%
  • Foreclosure charges:-No foreclosure allowed within 6 months from date of availing the car loan. 6% of Principal Outstanding for preclosures within 1 year from 7th EMI. 5% of Principal Outstanding for preclosures within 13-24 months from 1st EMI. 3% of Principal Outstanding for preclosures post 24 months from 1st EMI
  • Cheque/ECS swapping charges of Rs 500
  • Cheque/ SI/ ECS Return Charges of Rs 550
  • Collateral charges of Rs 300
  • CIBIL charges (only on request) of Rs 50
  • Duplicate no due certificate/NOC charges of Rs 500

Axis Bank Car Loan

  • Processing fee of Rs 3,500-5,500
  • Part payment charged at 5% of the amount plus service tax
  • Late payment penalty of 2% per month
  • Foreclosure charges calculated at 5% of the Principal Outstanding plus service tax
  • Cheque/ SI/ ECS Return Charges of Rs 500 per instance
  • Duplicate No Dues Certificate / NOC charges of Rs 500