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AutoLoan Pro
Your monthly EMI, using the reducing-balance method every Indian bank uses.
Indian car loans are usually sized against the on-road price — the ex-showroom price plus RTO registration, road tax, and insurance — not the ex-showroom price alone, so your loan amount is often meaningfully higher than what's advertised.
Most Indian lenders charge a 0.5-1% processing fee on the loan amount upfront, deducted from the disbursed amount or paid separately — it doesn't affect your EMI, but it's a real cost worth budgeting for alongside your down payment.
Estimate monthly payments with taxes, insurance, and amortization.
OpenProperty price, down payment, tenure — EMI, processing fee, and stamp duty & registration.
OpenCompare loan terms and see total interest paid.
OpenProject growth from deposits and compounding interest.
OpenWhat you entered
Loan amount (on-road price − down payment)
$32,000.00 − $4,000.00= $28,000.00Monthly interest rate
9.5% ÷ 12= 0.7917%EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1)
$28,000.00 × 0.7917% × (1+r)^60 ÷ (...)= $588.05Total payment over the tenure
$588.05 × 60 months= $35,283.13Total interest paid
$35,283.13 − $28,000.00= $7,283.13One-time processing fee
$28,000.00 × 1%= $280.00Result
Monthly EMI: $588
Financing $28,000 at 9.5% for 60 months costs $7,283 in interest, plus a one-time processing fee of $280 — total payment comes to $35,283.