EMI on a ₹15 lakh car loan for 3 years at 10% interest
EMI ₹48,401 per month for 3 years on ₹15,00,000 at 10% — total interest ₹2,42,428, total payment ₹17,42,428.
- Monthly EMI
- ₹48,401
- Total interest
- ₹2,42,428
- Total repayment
- ₹17,42,428
| Tenure / rate | EMI | Total interest | Total paid |
|---|---|---|---|
| 3 years | ₹48,401 | ₹2,42,428 | ₹17,42,428 |
| 8 years | ₹22,761 | ₹6,85,080 | ₹21,85,080 |
| 13 years | ₹17,218 | ₹11,85,965 | ₹26,85,965 |
| 9% | ₹47,700 | ₹2,17,186 | ₹17,17,186 |
| 9.5% | ₹48,049 | ₹2,29,779 | ₹17,29,779 |
| 10% | ₹48,401 | ₹2,42,428 | ₹17,42,428 |
| 10.5% | ₹48,754 | ₹2,55,132 | ₹17,55,132 |
| 11% | ₹49,108 | ₹2,67,891 | ₹17,67,891 |
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 ₹15 lakh car loan for 3 years at 10%?
₹48,401 per month. Over 3 years you repay ₹17,42,428 in total, of which ₹2,42,428 is interest.
How much interest will I pay on ₹15 lakh at 10% over 3 years?
₹2,42,428 — roughly 16% 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.