EMI on a ₹10 lakh car loan for 3 years at 9% interest
EMI ₹31,800 per month for 3 years on ₹10,00,000 at 9% — total interest ₹1,44,790, total payment ₹11,44,790.
- Monthly EMI
- ₹31,800
- Total interest
- ₹1,44,790
- Total repayment
- ₹11,44,790
| Tenure / rate | EMI | Total interest | Total paid |
|---|---|---|---|
| 3 years | ₹31,800 | ₹1,44,790 | ₹11,44,790 |
| 8 years | ₹14,650 | ₹4,06,420 | ₹14,06,420 |
| 13 years | ₹10,897 | ₹6,99,902 | ₹16,99,902 |
| 8% | ₹31,336 | ₹1,28,109 | ₹11,28,109 |
| 8.5% | ₹31,568 | ₹1,36,431 | ₹11,36,431 |
| 9% | ₹31,800 | ₹1,44,790 | ₹11,44,790 |
| 9.5% | ₹32,033 | ₹1,53,186 | ₹11,53,186 |
| 10% | ₹32,267 | ₹1,61,619 | ₹11,61,619 |
How this is calculated
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where r is the monthly rate (annual ÷ 12 ÷ 100) and n is the number of months.
EMI कैलकुलेटर: किसी भी लोन की सही मासिक किस्त (EMI), कुल ब्याज और कुल भुगतान जानें — वही reducing-balance फ़ॉर्मूला जो हर भारतीय बैंक इस्तेमाल करता है।
Frequently asked
What is the EMI on a ₹10 lakh car loan for 3 years at 9%?
₹31,800 per month. Over 3 years you repay ₹11,44,790 in total, of which ₹1,44,790 is interest.
How much interest will I pay on ₹10 lakh at 9% over 3 years?
₹1,44,790 — roughly 14% of the amount borrowed.
How is EMI calculated in India?
Banks use the reducing-balance method: EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1). P is the principal, r the monthly interest rate and n the number of monthly instalments. Early EMIs are mostly interest; later ones mostly principal.
Does a longer tenure reduce my EMI?
Yes, but total interest rises sharply. Doubling a home-loan tenure from 10 to 20 years typically cuts the EMI by around 30% while roughly doubling the interest paid.
Is prepayment worth it?
On floating-rate home loans RBI rules prohibit prepayment penalties for individuals, so a lump-sum prepayment early in the tenure saves the most interest. Ask Simpledot with your exact loan details for a prepayment schedule.
Figures are computed exactly from the stated inputs. Bank rates, processing fees, insurance and taxes vary — treat this as the arithmetic, not an offer. Last computed October 2026.