EMI on a ₹8 lakh car loan for 3 years at 9% interest
EMI ₹25,440 per month for 3 years on ₹8,00,000 at 9% — total interest ₹1,15,832, total payment ₹9,15,832.
- Monthly EMI
- ₹25,440
- Total interest
- ₹1,15,832
- Total repayment
- ₹9,15,832
| Tenure / rate | EMI | Total interest | Total paid |
|---|---|---|---|
| 3 years | ₹25,440 | ₹1,15,832 | ₹9,15,832 |
| 8 years | ₹11,720 | ₹3,25,136 | ₹11,25,136 |
| 13 years | ₹8,717 | ₹5,59,921 | ₹13,59,921 |
| 8% | ₹25,069 | ₹1,02,487 | ₹9,02,487 |
| 8.5% | ₹25,254 | ₹1,09,145 | ₹9,09,145 |
| 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 |
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 9%?
₹25,440 per month. Over 3 years you repay ₹9,15,832 in total, of which ₹1,15,832 is interest.
How much interest will I pay on ₹8 lakh at 9% over 3 years?
₹1,15,832 — 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.