EMI on a ₹8 lakh car loan for 5 years at 9% interest
EMI ₹16,607 per month for 5 years on ₹8,00,000 at 9% — total interest ₹1,96,401, total payment ₹9,96,401.
- Monthly EMI
- ₹16,607
- Total interest
- ₹1,96,401
- Total repayment
- ₹9,96,401
| Tenure / rate | EMI | Total interest | Total paid |
|---|---|---|---|
| 5 years | ₹16,607 | ₹1,96,401 | ₹9,96,401 |
| 10 years | ₹10,134 | ₹4,16,087 | ₹12,16,087 |
| 15 years | ₹8,114 | ₹6,60,544 | ₹14,60,544 |
| 8% | ₹16,221 | ₹1,73,267 | ₹9,73,267 |
| 8.5% | ₹16,413 | ₹1,84,794 | ₹9,84,794 |
| 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 |
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 9%?
₹16,607 per month. Over 5 years you repay ₹9,96,401 in total, of which ₹1,96,401 is interest.
How much interest will I pay on ₹8 lakh at 9% over 5 years?
₹1,96,401 — 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.