EMI on a ₹15 lakh car loan for 5 years at 9% interest
EMI ₹31,138 per month for 5 years on ₹15,00,000 at 9% — total interest ₹3,68,252, total payment ₹18,68,252.
- Monthly EMI
- ₹31,138
- Total interest
- ₹3,68,252
- Total repayment
- ₹18,68,252
| Tenure / rate | EMI | Total interest | Total paid |
|---|---|---|---|
| 5 years | ₹31,138 | ₹3,68,252 | ₹18,68,252 |
| 10 years | ₹19,001 | ₹7,80,164 | ₹22,80,164 |
| 15 years | ₹15,214 | ₹12,38,520 | ₹27,38,520 |
| 8% | ₹30,415 | ₹3,24,875 | ₹18,24,875 |
| 8.5% | ₹30,775 | ₹3,46,488 | ₹18,46,488 |
| 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 |
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 9%?
₹31,138 per month. Over 5 years you repay ₹18,68,252 in total, of which ₹3,68,252 is interest.
How much interest will I pay on ₹15 lakh at 9% over 5 years?
₹3,68,252 — roughly 25% 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.