EMI Calculator

8 lakh car loan EMI calculator

By Anchal Katyal · Written on Jun 9, 2026 · Verified on Sep 27, 2026

EMI on ₹8 lakh at 10% for 5 years is about ₹ 16,998 a month, with ₹2.2 lakh in total interest. Change the rate, tenure or amount below, or add a prepayment to compare.

What you'll learn:

  • EMI across common rates and tenures
  • What to plan for at ₹8 lakh
  • Total repayment in a worked example
Car Loan
Car Loan
Currency
Principal you borrow: the starting balance before interest accrues.Learn more
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Annual rate charged on the outstanding balance. EMI uses rate ÷ 12 each month.Learn more
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Repayment period in months. Longer tenure lowers EMI but usually raises total interest.Learn more
mo
One-time charge as a % of the amount, usually paid upfront or cut from the payout. It does not change the EMI but adds to what you pay in total.Learn more
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Extra payments toward principal (lump-sum or monthly). Reduce tenure usually saves more interest. Reduce EMI if you need cash-flow relief.Learn more
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Shows what share of your monthly take-home pay goes to EMIs (FOIR). Banks usually cap all EMIs at 40% to 50% of net income.Learn more
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Monthly EMI-
Principal-
Total interest-
Total payment-
Interest share-
EMIs use - of take-home
Payment breakup
  • Principal
  • Interest

Amortization schedule
Starting from

Yearly principal vs interest

  • Principal
  • Interest
#DateEMIPrincipalInterestBalance

Lowest car loan rates from Indian lenders

Your EMI at each lender for ₹ 8 Lakhs over 5 yrs, at the low and high ends of its public rate band. The low end goes to the strongest profiles; your sanction letter sets your rate.

LenderRate bandEMI fromEMI up toLender's page
Canara Bank7.5% to 10.7%₹ 16,030₹ 17,274Get offer: Canara Bank (opens in a new tab)
PNB7.85% to 8.95%₹ 16,164₹ 16,587Get offer: PNB (opens in a new tab)
Bank of Baroda7.85% to 11.55%₹ 16,164₹ 17,614Get offer: Bank of Baroda (opens in a new tab)
HDFC8.25% onwards₹ 16,317–Get offer: HDFC (opens in a new tab)
SBI8.4% to 9.35%₹ 16,375₹ 16,743Get offer: SBI (opens in a new tab)
ICICI8.4% onwards₹ 16,375–Get offer: ICICI (opens in a new tab)
Axis8.8% to 11.7%₹ 16,529₹ 17,675Get offer: Axis (opens in a new tab)
Kotak9% onwards₹ 16,607–Get offer: Kotak (opens in a new tab)

Ordered by lowest advertised rate. Bands checked against each lender's public rate card between 10 Oct 2026 and 11 Oct 2026; they are not live quotes. We are not a lender and do not collect your details: "Get offer" opens the lender's own site. Fees, repo-hike status and public vs private averages are on the car loan interest rates page.

Planning a ₹8 lakh car loan EMI

₹8 lakh car loan EMI is about ₹ 16,998 at 10% for 5 years, with total interest roughly ₹2.2 lakh if you never prepay and the rate does not change. ₹8 lakh is a typical loan for a new compact SUV or sedan.

Paying ₹1 lakh more upfront lowers the EMI by about ₹2,125 a month, without adding years to the loan. Try to finish the loan before you expect to sell or replace the car.

EMI at common rates for ₹ 8,00,000

Monthly reducing-balance EMI if the rate stays constant. Highlighted cells are nearest to 10% for 5 years.

Rate3 yr4 yr5 yr6 yr7 yr
8.5%₹ 25,254₹ 19,719₹ 16,413₹ 14,223₹ 12,669
9.5%₹ 25,626₹ 20,099₹ 16,801₹ 14,620₹ 13,075
10%₹ 25,814₹ 20,290₹ 16,998₹ 14,821₹ 13,281
10.5%₹ 26,002₹ 20,483₹ 17,195₹ 15,023₹ 13,489
11.5%₹ 26,381₹ 20,871₹ 17,594₹ 15,433₹ 13,909
12.5%₹ 26,763₹ 21,264₹ 17,998₹ 15,849₹ 14,337

Figures exclude processing fees, insurance, and floating-rate resets. Use the calculator above for your exact quote, then stress rate +1%. See also the car loan EMI calculator, prepayment, and eligibility tools.

Key takeaways

  • Repaying in 3 years instead of 5 raises the EMI to ₹25,814 but saves about ₹90,563 in interest.
  • Stretching to 7 years drops the EMI to ₹13,281 but adds about ₹95,741 in interest, on a car that keeps losing value.
  • A dealer's 6% flat rate sounds cheaper but means ₹2.4 lakh of interest over 5 years, more than the ₹2.2 lakh on this 10% bank loan.
  • Insurance and accessories added to the loan raise both the EMI and the interest you pay.

Worked example: ₹ 8,00,000 at 10% for 5 years

₹ 8,00,000 car loan EMI ≈ ₹ 16,998. Over 60 months you would pay about ₹ 10,19,858 in total, of which roughly ₹ 2,19,858 is interest if you make no prepayments and the rate stays constant. Raise the rate by 1%, or add a lump sum under Prepayments, to see how much the total interest changes.

Formula: Reducing-balance EMI on the financed amount after down payment. Dealer subvention, advance EMI, or insurance add-ons may change the first payment or principal. Confirm with the lender.

Figures are estimates for education and planning and may differ from your lender’s schedule due to fees, floating rates, or product rules.

Last updated on Jul 18, 2026.