Auto Loan Calculator
Calculate EMI and total cost for a two-wheeler or commercial vehicle loan.
🔢
Auto Loan Calculator
Use the formula and worked example below to calculate manually.
Overview
The auto loan calculator helps you compute the monthly EMI for a two-wheeler, commercial vehicle, or auto-rickshaw loan, along with the total interest and cost of the vehicle on finance.
How to use this calculator
- Enter the vehicle price and down payment.
- Enter the annual interest rate on the loan.
- Set the repayment tenure in months.
- The calculator shows the EMI, total interest, and total cost of ownership.
Understanding the inputs & results
Vehicle price (on-road)
The total price of the vehicle including registration, insurance, and applicable taxes.
Down payment
Your upfront contribution. Loan = Vehicle price − Down payment.
Loan tenure
Repayment duration — typically 12–60 months for two-wheelers; longer for commercial vehicles.
EMI
Your fixed monthly payment covering principal and interest.
The formula
Auto loan EMI
EMI = P × r × (1 + r)^n / ((1 + r)^n − 1)
P = loan amount, r = monthly interest rate (annual / 12 / 100), n = tenure in months.
Worked example
Bike price ₹1,20,000, down payment ₹20,000, 12% p.a., 36 months.
- Loan = ₹1,00,000; r = 0.01; n = 36.
- EMI = 1,00,000 × 0.01 × (1.01)^36 / ((1.01)^36 − 1) ≈ ₹3,321.
- Total paid = 3,321 × 36 = ₹1,19,556. Interest = ₹19,556.
✓ EMI ≈ ₹3,321. Total interest ≈ ₹19,556 on a ₹1 lakh loan.
Frequently asked questions
Actual loan terms and interest rates vary by lender and credit profile. Confirm EMI and charges with your lender before signing.