Car Loan EMI Calculator — Calculations & Slabs for FY 2026-27

A higher down payment directly reduces the loan principal amount you borrow. This lowers your monthly EMI and decreases the total interest you will pay to the bank over the tenure of the loan.

Typically, the maximum tenure for a car loan in India is 7 years (84 months) for new cars, and up to 5 years (60 months) for used or pre-owned vehicles. Shorter tenures help save on total interest costs.

Yes, co-related fees include processing fees (usually 0.5% to 2% of the loan amount), documentation charges, stamp duty, and foreclosure or prepayment penalties (up to 5-6% of the outstanding principal if paid early).

Yes, most banks allow prepayment or full foreclosure after a lock-in period (usually 6 to 12 months). While public sector banks might not charge a foreclosure penalty on floating-rate loans, private banks often charge a fee.

You can verify the values against the official notifications listed in our data sources section at the bottom of the page.