Car Loan EMI Calculator

1L 1Cr
7% 17.5%
1 7

Break-up of Total Payment

Principal Amt
Interest Amt
Total Amt Payble

Amortization Schedule

Nowadays, acquiring your ideal car is more accessible than ever, regardless of whether you're employed or running your own business. Unlike in the past, when substantial savings or wealth were prerequisites for purchasing your first car, today, you can easily obtain a New Car Loan and quickly fulfil your dream of car ownership.

Eligibility for a pre-approved Car Loan is based on your income and credit rating, though it is subject to the maximum duration of the loan and the amount borrowed.

Axis Bank offers Car Loans at an attractive rate of interest, low processing fee, a repayment tenure of upto 7 years, and higher loan-to-value ratio (100% on-road price funding on certain models) to purchase a new car. The Car Loan is offered even to proprietorship firms, partnership firms, companies, trusts and societies.

To make loan repayment easier, you can take advantage of the Equated Monthly Instalment (EMI) option. Before applying for a Car Loan, it's wise to estimate your potential EMI to plan your finances better.

Read More

What is an EMI?

The EMI includes both the principal amount and the interest. Therefore, EMI = Principal Amount + Interest on the Car Loan. Typically, the EMI remains constant throughout the loan tenure and is repaid monthly.

Mathematically, EMI is calculated as follows:

\[ EMI = \frac{P \times R \times (1+R)^N}{(1+R)^N - 1} \]


- \( P \) is the principal loan amount

- \( R \) is the monthly interest rate

- \( N \) is the number of monthly instalments

Axis Bank's Car Loan EMI Calculator is an efficient online tool that instantly calculates your expected monthly EMI. Simply adjust the slider to set your loan amount and get immediate results, helping you gauge your potential EMI outflow. car loan interest rate, and the tenure of your loan (in months).

Here are the five benefits of using the EMI calculator:

  • Easy to access
  • Provides quick results
  • Saves time and energy spent on doing manual calculations
  • Helps you ascertain how much will be your Car Loan EMI outgo
  • Make loan planning easier for you

Keep in mind, the interest rate and loan tenure are crucial factors in determining your loan EMI. A higher interest rate means a higher EMI, and conversely, a lower rate results in a lower EMI. Additionally, choosing a longer loan tenure can decrease your monthly EMI, while a shorter tenure will increase it. Similarly, opting for a longer tenure reduces your EMI and vice versa. So, consider opting for longer loan tenure when you avail a Car Loan so that repayments can become comfortable.

In the early stages of your Car Loan, a larger portion of your EMI goes towards interest payments, while the principal repayment portion increases over time. This happens because EMIs are calculated using the reducing balance method, benefiting borrowers over the loan term.

Read More

Frequently Asked Questions

  • How to Use Car Loan EMI Calculator?

    You can use the car loan EMI Calculator by entering the loan amount, interest rate, and tenure to get an estimate of your monthly EMI

    Additionally, refer to the amortisation schedule for a detailed breakdown of interest and principal repayment each year.

    For more information or to apply, click the “Get a call back” button and provide your details.

    Use Axis Bank’s Car Loan EMI calculator to know the indicative EMI for the chosen interest rate and tenure.

  • How is the Car Loan EMI to be paid?

    To streamline your EMI payments, consider the following options:

    • Standing Instructions (SI): If you have an Axis Bank account, your EMI can be automatically debited.
    • National Automated Clearing House (NACH)/ECS Mandate: Suitable for non-Axis Bank account holders, ensuring automatic EMI debits at the end of each month.
    • Post-Dated Cheques (PDCs): An option for those without an Axis Bank account or in non-ECS locations. However, SI and NACH/ECS methods are preferred for their speed and accuracy.

    Opting for SI or NACH/ECS mode is preferable as it is faster and less prone to errors than PDCs.

    In case if you skip your EMI…

    Consistently missing EMI payments increases the risk of default, potentially leading to the seizure of your car, which serves as collateral. Therefore, always ensure timely repayment of your Car Loan EMIs.

    Yet, in case of insufficient balance or any other reason you skip your EMI, the bank will caution you and may charge a late payment penalty. As a result of skipping the EMI, the tenure of the loan would increase (assuming EMIs remaining the same).

    Note that persistent skipping inflicts the risk of default, and in such a case, your car hypothecated to the bank as collateral for the Car Loan, may get seized. Hence, always make it a point to repay the Car Loan EMI on time.

    And in case if you partially prepay the Car Loan…

    Part-prepayments of Car Loan is possible but subject to part payment charges.

    Partial prepayment of the Car Loan is possible but may incur charges. Similarly, you can foreclose the loan by paying the remaining balance in full, subject to foreclosure fees.

    Apply for an Axis Bank New Car Loan to turn your dream of owning a car into reality.

    You can apply in three ways:

    • Visit an Axis Bank Loan Centre in person.
    • Call the Axis Bank call center.
    • Applying online, which is the most convenient option as it can be done from anywhere and at any time.

    All you got to do is enter your name, e-mail id, mobile number, state, city, captcha code, and accept the disclaimer policy before you click on the ‘Submit’ button. Soon you will receive a call from one of the Axis Bank representatives, who will explain the details about your car loan.

    Live your dream drive in your dream car today!

  • Why Choose Axis Bank Car Loan?

    The benefits of availing of a car loan from Axis Bank are:

    • Flexibility of amount and tenure: You can get an Axis bank Car loan for amounts starting from Rs. 1 lakh for a period up to 7 years.
    • Axis Bank customers with pre-approved loans, don’t need to deposit income documents and bank statements.
    • Special Benefits for priority banking, Privy Banking and Wealth Banking customers.


Axis Bank does not guarantee accuracy, completeness or correct sequence of any the details provided therein and therefore no reliance should be placed by the user for any purpose whatsoever on the information contained / data generated herein or on its completeness / accuracy. The use of any information set out is entirely at the User's own risk. User should exercise due care and caution (including if necessary, obtaining of advise of tax/ legal/ accounting/ financial/ other professionals) prior to taking of any decision, acting or omitting to act, on the basis of the information contained / data generated herein. Axis Bank does not undertake any liability or responsibility to update any data. No claim (whether in contract, tort (including negligence) or otherwise) shall arise out of or in connection with the services against Axis Bank. Neither Axis Bank nor any of its agents or licensors or group companies shall be liable to user/ any third party, for any direct, indirect, incidental, special or consequential loss or damages (including, without limitation for loss of profit, business opportunity or loss of goodwill) whatsoever, whether in contract, tort, misrepresentation or otherwise arising from the use of these tools/ information contained / data generated herein.

Read More

Progress with us Blog

Car Loan tips

Top 5 Car Loan Tips

For most people owning a car is a symbol of success. The novelty of going on...