EMI on a ₹8 lakh car loan for 3 years at 10% interest
EMI ₹25,814 per month for 3 years on ₹8,00,000 at 10% — total interest ₹1,29,295, total payment ₹9,29,295.
- Monthly EMI
- ₹25,814
- Total interest
- ₹1,29,295
- Total repayment
- ₹9,29,295
| Tenure / rate | EMI | Total interest | Total paid |
|---|---|---|---|
| 3 years | ₹25,814 | ₹1,29,295 | ₹9,29,295 |
| 8 years | ₹12,139 | ₹3,65,376 | ₹11,65,376 |
| 13 years | ₹9,183 | ₹6,32,514 | ₹14,32,514 |
| 9% | ₹25,440 | ₹1,15,832 | ₹9,15,832 |
| 9.5% | ₹25,626 | ₹1,22,549 | ₹9,22,549 |
| 10% | ₹25,814 | ₹1,29,295 | ₹9,29,295 |
| 10.5% | ₹26,002 | ₹1,36,070 | ₹9,36,070 |
| 11% | ₹26,191 | ₹1,42,875 | ₹9,42,875 |
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 ₹8 lakh car loan for 3 years at 10%?
₹25,814 per month. Over 3 years you repay ₹9,29,295 in total, of which ₹1,29,295 is interest.
How much interest will I pay on ₹8 lakh at 10% over 3 years?
₹1,29,295 — 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.