📋 Amortization Schedule
| Period | EMI Paid | Principal | Interest | Prepay | Balance |
|---|
Calculate auto loan EMI for Maruti, Hyundai, Tata • See how prepayment saves thousands!
| Period | EMI Paid | Principal | Interest | Prepay | Balance |
|---|
Calculate your car loan EMI and see how much you can save by paying extra. Car loans typically have shorter tenure (3-7 years) compared to home loans, so even small extra payments can significantly reduce your interest burden.
Car loan interest rates in India range from 8% to 12% depending on the bank, your credit score, and whether it's a new or used car. SBI, HDFC, and ICICI offer competitive rates starting from 8.5%.
Most banks charge foreclosure fees of 2-5% on car loans. However, some banks waive this for customers with good repayment history. Check with your bank for specific terms.
Most banks offer car loans for 1-7 years. Shorter tenure means higher EMI but less total interest paid. For a 5-year loan, you can save significantly by paying even ₹2,000 extra monthly.