What is a typical car loan interest rate?

Car loan rates in India range from 8.5% to 14% per annum. New car loans are cheaper than used car loans.

What percentage of car price can I borrow?

Most lenders finance 70–90% of the on-road price. You'll need 10–30% as a down payment.

New car loans go up to 7 years; used car loans typically up to 5 years.

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Estimate your car EMI including down payment, and see the full repayment schedule.

Car On-Road Price₹10.00 L

₹

Down Payment %?20%

Interest Rate9.5%

Tenure (Months)60 mo

Monthly EMI🚗

₹0

Loan Amount

₹0

Down Payment

₹0

Total Interest

₹0

Total Cost

₹0

incl. down payment

Principal (79%)

Interest (21%)

You'll pay ₹2.08 L in interest — 26% of the principal.

Adding ₹1,680/mo extra saves ₹24,659 and closes the loan 6 months early.

At this EMI, you'll be loan-free by Oct 2031.

Month	Date	EMI	Principal	Interest	Balance
#1	Oct 2026	₹16,801	₹10,468	₹6,333	₹7,89,532
#2	Nov 2026	₹16,801	₹10,551	₹6,250	₹7,78,981
#3	Dec 2026	₹16,801	₹10,635	₹6,167	₹7,68,346
#4	Jan 2027	₹16,801	₹10,719	₹6,083	₹7,57,628
#5	Feb 2027	₹16,801	₹10,804	₹5,998	₹7,46,824
#6	Mar 2027	₹16,801	₹10,889	₹5,912	₹7,35,935
#7	Apr 2027	₹16,801	₹10,975	₹5,826	₹7,24,959
#8	May 2027	₹16,801	₹11,062	₹5,739	₹7,13,897
#9	Jun 2027	₹16,801	₹11,150	₹5,652	₹7,02,747
#10	Jul 2027	₹16,801	₹11,238	₹5,563	₹6,91,509
#11	Aug 2027	₹16,801	₹11,327	₹5,474	₹6,80,182
#12	Sept 2027	₹16,801	₹11,417	₹5,385	₹6,68,766

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