EMI on a ₹15 lakh car loan
What is the EMI on a ₹15 lakh car loan?
₹31,503 / month
At 9.5% for 5 years. You repay ₹18,90,168 in all — ₹3,90,168 of it interest.
Open in the EMI calculatorEMI by rate and tenure
| Rate | 3 years | 4 years | 5 years | 6 years | 7 years |
|---|---|---|---|---|---|
| 8.5% | ₹47,351 | ₹36,972 | ₹30,775 | ₹26,668 | ₹23,755 |
| 9.0% | ₹47,700 | ₹37,328 | ₹31,138 | ₹27,038 | ₹24,134 |
| 9.5% | ₹48,049 | ₹37,685 | ₹31,503 | ₹27,412 | ₹24,516 |
| 10.0% | ₹48,401 | ₹38,044 | ₹31,871 | ₹27,789 | ₹24,902 |
| 10.5% | ₹48,754 | ₹38,405 | ₹32,241 | ₹28,168 | ₹25,291 |
| 11.0% | ₹49,108 | ₹38,768 | ₹32,614 | ₹28,551 | ₹25,684 |
Monthly reducing balance. Processing fees and insurance are extra.
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₹
₹15 lakh
%
yrs
Monthly EMI
₹31,503
for 5 years · you’ll repay ₹18,90,168 in total
What the loan really costs
Interest
₹3.9 L
26% of loan
Principal
₹15,00,000
Total interest
₹3,90,168
Total paid
₹18,90,168
In year one, 35% of every EMI goes to interest.
Year by year
PrincipalInterest
Full repayment schedule
5 years
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹2,46,065 | ₹1,31,969 | ₹12,53,935 |
| 2 | ₹2,70,486 | ₹1,07,548 | ₹9,83,450 |
| 3 | ₹2,97,331 | ₹80,703 | ₹6,86,119 |
| 4 | ₹3,26,840 | ₹51,193 | ₹3,59,278 |
| 5 | ₹3,59,278 | ₹18,755 | ₹0 |
Questions people ask
What is the EMI on ₹15 lakh for 7 years?
About ₹24,516 a month at 9.5%. That’s ₹6,987 less a month than 5 years, but ₹1.69 L more in interest — on a car that loses value every year.
What salary do I need for a ₹15 lakh car loan?
Lenders usually want all your EMIs under about half your take-home pay. A common, safer rule is to keep the car EMI under 10–15% of take-home: for ₹31,503 a month that’s an in-hand salary of roughly ₹2,10,019 or more.
How much down payment should I make?
At least 20%. A ₹15 lakh loan with 20% down means a car of about ₹18.75 L on-road. A bigger down payment cuts the interest and keeps you from owing more than the car is worth.
Can I prepay a car loan?
Usually, yes. Floating-rate loans can’t carry prepayment charges, but most car loans are fixed-rate and banks may charge 2–5% for closing early. Check before you sign.