EMI on a ₹5 lakh car loan for 3 years at 9% interest
EMI ₹15,900 per month for 3 years on ₹5,00,000 at 9% — total interest ₹72,395, total payment ₹5,72,395.
- Monthly EMI
- ₹15,900
- Total interest
- ₹72,395
- Total repayment
- ₹5,72,395
| Tenure / rate | EMI | Total interest | Total paid |
|---|---|---|---|
| 3 years | ₹15,900 | ₹72,395 | ₹5,72,395 |
| 8 years | ₹7,325 | ₹2,03,210 | ₹7,03,210 |
| 13 years | ₹5,448 | ₹3,49,951 | ₹8,49,951 |
| 8% | ₹15,668 | ₹64,055 | ₹5,64,055 |
| 8.5% | ₹15,784 | ₹68,216 | ₹5,68,216 |
| 9% | ₹15,900 | ₹72,395 | ₹5,72,395 |
| 9.5% | ₹16,016 | ₹76,593 | ₹5,76,593 |
| 10% | ₹16,134 | ₹80,809 | ₹5,80,809 |
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 ₹5 lakh car loan for 3 years at 9%?
₹15,900 per month. Over 3 years you repay ₹5,72,395 in total, of which ₹72,395 is interest.
How much interest will I pay on ₹5 lakh at 9% over 3 years?
₹72,395 — 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.