Tips for Getting the Best Car Loan Rate
Getting the best car loan rate requires preparation and smart comparison. Here are key strategies to minimize your borrowing cost:
750+
Credit Score Target
20%
Ideal Down Payment
3-5 Yr
Optimal Tenure
Car Loan Calculator
Car Loan EMI Calculator
Find Your Perfect Car Budget
Plan your car purchase with accurate EMI calculations. Compare rates and find the loan that fits your budget.
Car Loan EMI Calculator
Adjust the sliders to calculate your monthly EMI
Monthly EMI
₹1,63,820
Principal
₹8.00 L
Interest
₹19,100
Total
₹8.19 L
₹
₹10K₹50.00 L
%
0.5%20%
1 Month84 Months
Monthly EMI
₹1,63,820
Principal
Interest
Principal
₹8,00,000
Interest
₹19,100
Total
₹8,19,100
Ready to apply?
Compare the best car loan rates from top banks.
Amortization Schedule
Year-by-year breakdown of your loan repayment
| Month | EMI | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | ₹1,63,820 | ₹1,57,487 | ₹6,333 | ₹6,42,513 |
| 2 | ₹1,63,820 | ₹1,58,733 | ₹5,087 | ₹4,83,780 |
| 3 | ₹1,63,820 | ₹1,59,990 | ₹3,830 | ₹3,23,790 |
| 4 | ₹1,63,820 | ₹1,61,257 | ₹2,563 | ₹1,62,533 |
| 5 | ₹1,63,820 | ₹1,62,533 | ₹1,287 | ₹0 |
Frequently Asked Questions
Car loan interest rates in India typically range from 8.5% to 12% p.a. depending on the lender, your credit score, car type (new vs used), and loan amount. New car loans generally have lower rates than used car loans.