₹5 Lakh Car Loan EMI for 5 Years
EMI on a ₹5 lakh car loan over 5 years at 9% is ₹10,379 a month, ₹1.2L in total interest. Change the rate or tenure to match your bank's offer.
A ₹5 lakh car loan repaid over 5 years at 9% costs ₹10,379 every month. Over the full term you pay ₹6,22,751, of which ₹1.2L is interest. Banks quote anywhere from 8.0% to 10.5%, so drag the rate to your offer; at 8.5% the EMI drops to ₹10,258. Add an extra monthly payment below to see how many years it removes.
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0% down · borrowing ₹5,00,000
Optional. Goes straight to principal and ends the loan sooner.
- Principal₹5,00,00080%
- Interest₹1,22,75120%
Add ₹1,000 a month and you save ₹13,874 in interest, finishing 6 months sooner.
A rate of 8.00% instead of 9% would cost ₹14,459 less in interest and ₹240.98 less a month.Half the loan is repaid in year 3; the first year alone costs ₹41,635 in interest.
| Year | Principal vs interest | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | ₹82,915 | ₹41,635 | ₹4,17,085 | |
| 2 | ₹90,693 | ₹33,857 | ₹3,26,392 | |
| 3 | ₹99,201 | ₹25,349 | ₹2,27,191 | |
| 4 | ₹1,08,506 | ₹16,044 | ₹1,18,685 | |
| 5 | ₹1,18,685 | ₹5,865 | ₹0 |
How a car loan payment works
The amount financed is the price minus your down payment and any trade-in. The monthly payment then repays that amount with interest over the term. Longer terms lower the payment but raise the total interest and can leave you owing more than the car is worth for the first few years.
Term length and total cost
Moving from a 4-year to a 7-year loan on the same car can cut the payment by a third while adding hundreds or thousands in interest. Save both as scenarios and compare the total interest, not just the monthly number.
Rate depends on credit and car age
New cars get lower rates than used ones, and a strong credit score can be several percentage points cheaper. Try the slider to see what one percentage point is worth over the life of your loan.
Taxes, fees and add-ons
Sales tax, registration and dealer fees are often rolled into the financed amount. If yours will be, add them to the vehicle price so the payment here matches what the dealer quotes.
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