🚗 Auto Loan Calculator
Car Loan EMI Calculator
Calculate car loan EMI and bike/two-wheeler loan EMI with current bank rates. View amortization schedule and compare the impact of down payment.
Current Auto Loan Rates (July 2025)
| Bank | Car Loan | Bike Loan |
|---|---|---|
| SBI | 9.15% | 14.45% |
| HDFC Bank | 9.25% | 13.00% |
| ICICI Bank | 9.30% | 14.00% |
| Axis Bank | 9.20% | 13.50% |
| Canara Bank | 9.35% | 13.75% |
*Rates indicative as of July 2025. Final rate depends on credit score.
Car Loan EMI Calculator
₹
₹
%
Years
Monthly EMI₹16,618
Loan Amount₹8,00,000
Total Interest₹1,97,092
Total Repayment₹9,97,092
Car & Bike Loan FAQs
What is the EMI for Tata Tiago EV at 8.99% for 5 years?
Tata Tiago EV base variant price ≈ ₹7.99 lakh (ex-showroom). With 20% down payment (₹1.6L), loan amount = ₹6.39L. At 8.99% for 5 years, EMI ≈ ₹13,243/month. Total interest = ₹1.55L. Note: Government subsidies (FAME-2) may reduce on-road price further.
What is the EMI for Royal Enfield Hunter 350?
Royal Enfield Hunter 350 price ≈ ₹1.49 lakh (ex-showroom). With 10% down payment (₹15K), loan amount = ₹1.34L. At SBI bike rate 14.45% for 3 years, EMI ≈ ₹4,618/month. Total interest = ₹32,268. Total repayment = ₹1.66 lakh.
Can I foreclose my car loan without penalty?
Prepayment charges vary: SBI and most PSU banks charge 0-2% on outstanding principal. Private banks like HDFC and ICICI may charge 5-6% in the first year, reducing to 2-3% after. Some lenders have lock-in periods (6-12 months). Check your loan agreement before prepaying. Prepaying in early years saves maximum interest.
What documents are needed for a car loan?
Car loan documents: (1) ID Proof — Aadhaar, PAN, Passport, (2) Address Proof — utility bill, bank statement, (3) Income Proof — last 3 months salary slips, 6 months bank statement, Form 16, (4) Employment Proof — employee ID or HR letter, (5) Photographs. Self-employed need ITR for 2 years and business proof. Processing time: 1-3 working days.