The EMI on a ₹10 lakh car loan is ₹20,758 at 9% interest over 5 years. Over the full tenure you pay ₹2.46 lakh in interest, so you repay ₹12.46 lakh in total.
EMI on ₹10 lakh (9%, 5 years)
₹20,758
- Total interest
- ₹2.46 lakh
- Total repaid
- ₹12.46 lakh
- Interest as share of loan
- 25%
EMI on ₹10 lakh by interest rate and tenure
| Rate | 3 years | 4 years | 5 years | 7 years |
|---|---|---|---|---|
| 8.5% | ₹31,568 | ₹24,648 | ₹20,517 | ₹15,836 |
| 9% | ₹31,800 | ₹24,885 | ₹20,758 | ₹16,089 |
| 9.5% | ₹32,033 | ₹25,123 | ₹21,002 | ₹16,344 |
| 10% | ₹32,267 | ₹25,363 | ₹21,247 | ₹16,601 |
| 11% | ₹32,739 | ₹25,846 | ₹21,742 | ₹17,122 |
| 12% | ₹33,214 | ₹26,334 | ₹22,244 | ₹17,653 |
Total interest on ₹10 lakh by tenure
| Tenure | EMI | Total interest | Total repaid |
|---|---|---|---|
| 3 years | ₹31,800 | ₹1.45 lakh | ₹11.45 lakh |
| 4 years | ₹24,885 | ₹1.94 lakh | ₹11.94 lakh |
| 5 years | ₹20,758 | ₹2.46 lakh | ₹12.46 lakh |
| 7 years | ₹16,089 | ₹3.51 lakh | ₹13.51 lakh |
Year-by-year repayment of ₹10 lakh
| Principal repaid | Interest paid | Balance left | |
|---|---|---|---|
| Year 1 | ₹1.66 lakh | ₹83,270 | ₹8.34 lakh |
| Year 2 | ₹1.81 lakh | ₹67,714 | ₹6.53 lakh |
| Year 3 | ₹1.98 lakh | ₹50,699 | ₹4.54 lakh |
| Year 4 | ₹2.17 lakh | ₹32,088 | ₹2.37 lakh |
| Year 5 | ₹2.37 lakh | ₹11,730 | ₹0 |
Paying a little extra each month
If you pay 10% more each month (₹22,834 instead of ₹20,758), you clear the ₹10 lakh car loan in 4 years 6 months instead of 5 years, 6 months sooner, and save about ₹28,679 in interest. Many car loans are fixed-rate and some lenders charge a fee for paying early, so check your loan terms before prepaying.
Compare nearby amounts
| Loan amount | EMI | Total interest |
|---|---|---|
| ₹7 lakh | ₹14,531 | ₹1.72 lakh |
| ₹8 lakh | ₹16,607 | ₹1.96 lakh |
| ₹9 lakh | ₹18,683 | ₹2.21 lakh |
| ₹10 lakh | ₹20,758 | ₹2.46 lakh |
| ₹12 lakh | ₹24,910 | ₹2.95 lakh |
| ₹15 lakh | ₹31,138 | ₹3.68 lakh |
| ₹20 lakh | ₹41,517 | ₹4.91 lakh |
Change the numbers
Frequently asked questions
What is the EMI on a ₹10 lakh car loan?
At 9% over 5 years, the EMI on a ₹10 lakh car loan is ₹20,758. Over 3 years it would be ₹31,800.
How much interest will I pay on a ₹10 lakh car loan?
About ₹2.46 lakh at 9% over 5 years, so you repay ₹12.46 lakh in total. Over 3 years the interest drops to ₹1.45 lakh.
How much does a 1% lower rate save on ₹10 lakh?
At 8% instead of 9%, the EMI falls by ₹482 to ₹20,276, saving ₹28,918 over 5 years.
What salary do I need for a ₹10 lakh car loan?
A common rule is to keep the car EMI within about 15% to 20% of your monthly take-home pay. For an EMI of ₹20,758 (9%, 5 years) that suggests a take-home salary of about ₹1,03,792 to ₹1,38,389 a month.
Reducing-balance EMI. Processing fees and insurance are not included. Dealers sometimes quote flat rates, which look lower but cost more. An estimate. Related: All car loan amounts · EMI calculator · Car loan calculator