Flat interest EMI
Flat interest calculates interest on the original loan amount for the full tenure. This method is simple to compare, but it can show a higher total interest amount because the principal does not reduce for interest calculation.
CAR LOAN PLANNING
Car Loan EMI Calculator
Estimate monthly EMI, total interest, and repayment value before choosing a used car. Adjust loan amount, interest rate, tenure, and calculation method to compare flat and diminishing finance options.
Loan Details
Move the sliders or type values to estimate your monthly EMI.
Repayment Graph
Principal and interest by year
PrincipalInterest
First Month Interest₹6,333
Last Month Interest₹132
Average Monthly Interest₹3,468
Year 1Months 1-12
- Principal
- ₹1,31,234
- Interest
- ₹70,383
- Balance
- ₹6,68,766
Year 2Months 13-24
- Principal
- ₹1,44,259
- Interest
- ₹57,359
- Balance
- ₹5,24,506
Year 3Months 25-36
- Principal
- ₹1,58,576
- Interest
- ₹43,041
- Balance
- ₹3,65,930
Year 4Months 37-48
- Principal
- ₹1,74,315
- Interest
- ₹27,303
- Balance
- ₹1,91,615
Year 5Months 49-60
- Principal
- ₹1,91,615
- Interest
- ₹10,003
- Balance
- ₹0
FINANCE GUIDE
Used car loan EMI planning
Use this calculator to estimate a monthly car loan EMI before visiting the showroom. The result shows the expected monthly installment, total interest, total repayment, and a year-wise principal-interest graph for clearer used car finance planning.
Diminishing balance EMI
Diminishing balance calculates interest on the outstanding loan balance each month. As principal is repaid, the interest portion reduces over time and the graph shows how repayment changes year by year.
What to compare
Compare EMI, total interest, total repayment, tenure, and the first-to-last month interest difference. Final lender quotes can also include processing fees, down payment, eligibility checks, insurance, and approved rate changes.
How is car loan EMI calculated?
Car loan EMI is calculated from the loan amount, annual interest rate, and tenure. In diminishing balance, interest is charged on the outstanding balance each month. In flat interest, interest is calculated on the original loan amount for the full tenure.
What is the difference between flat and diminishing EMI?
Flat EMI calculates interest on the original loan amount throughout the loan period. Diminishing EMI calculates interest on the remaining principal, so the interest component reduces as the loan is repaid.