EMI on a ₹15 lakh car loan for 5 years at 10% interest
EMI ₹31,871 per month for 5 years on ₹15,00,000 at 10% — total interest ₹4,12,234, total payment ₹19,12,234.
- Monthly EMI
- ₹31,871
- Total interest
- ₹4,12,234
- Total repayment
- ₹19,12,234
| Tenure / rate | EMI | Total interest | Total paid |
|---|---|---|---|
| 5 years | ₹31,871 | ₹4,12,234 | ₹19,12,234 |
| 10 years | ₹19,823 | ₹8,78,713 | ₹23,78,713 |
| 15 years | ₹16,119 | ₹14,01,434 | ₹29,01,434 |
| 9% | ₹31,138 | ₹3,68,252 | ₹18,68,252 |
| 9.5% | ₹31,503 | ₹3,90,168 | ₹18,90,168 |
| 10% | ₹31,871 | ₹4,12,234 | ₹19,12,234 |
| 10.5% | ₹32,241 | ₹4,34,451 | ₹19,34,451 |
| 11% | ₹32,614 | ₹4,56,818 | ₹19,56,818 |
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 5 years at 10%?
₹31,871 per month. Over 5 years you repay ₹19,12,234 in total, of which ₹4,12,234 is interest.
How much interest will I pay on ₹15 lakh at 10% over 5 years?
₹4,12,234 — roughly 27% 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.