EMI on a ₹8 lakh car loan for 5 years at 10% interest
EMI ₹16,998 per month for 5 years on ₹8,00,000 at 10% — total interest ₹2,19,858, total payment ₹10,19,858.
- Monthly EMI
- ₹16,998
- Total interest
- ₹2,19,858
- Total repayment
- ₹10,19,858
| Tenure / rate | EMI | Total interest | Total paid |
|---|---|---|---|
| 5 years | ₹16,998 | ₹2,19,858 | ₹10,19,858 |
| 10 years | ₹10,572 | ₹4,68,647 | ₹12,68,647 |
| 15 years | ₹8,597 | ₹7,47,431 | ₹15,47,431 |
| 9% | ₹16,607 | ₹1,96,401 | ₹9,96,401 |
| 9.5% | ₹16,801 | ₹2,08,089 | ₹10,08,089 |
| 10% | ₹16,998 | ₹2,19,858 | ₹10,19,858 |
| 10.5% | ₹17,195 | ₹2,31,707 | ₹10,31,707 |
| 11% | ₹17,394 | ₹2,43,636 | ₹10,43,636 |
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 5 years at 10%?
₹16,998 per month. Over 5 years you repay ₹10,19,858 in total, of which ₹2,19,858 is interest.
How much interest will I pay on ₹8 lakh at 10% over 5 years?
₹2,19,858 — 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.