EMI on a ₹15 lakh car loan for 3 years at 9% interest
EMI ₹47,700 per month for 3 years on ₹15,00,000 at 9% — total interest ₹2,17,186, total payment ₹17,17,186.
- Monthly EMI
- ₹47,700
- Total interest
- ₹2,17,186
- Total repayment
- ₹17,17,186
| Tenure / rate | EMI | Total interest | Total paid |
|---|---|---|---|
| 3 years | ₹47,700 | ₹2,17,186 | ₹17,17,186 |
| 8 years | ₹21,975 | ₹6,09,629 | ₹21,09,629 |
| 13 years | ₹16,345 | ₹10,49,852 | ₹25,49,852 |
| 8% | ₹47,005 | ₹1,92,164 | ₹16,92,164 |
| 8.5% | ₹47,351 | ₹2,04,647 | ₹17,04,647 |
| 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 |
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 9%?
₹47,700 per month. Over 3 years you repay ₹17,17,186 in total, of which ₹2,17,186 is interest.
How much interest will I pay on ₹15 lakh at 9% over 3 years?
₹2,17,186 — 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.