EMI on a ₹8 lakh car loan
What is the EMI on a ₹8 lakh car loan?
₹16,801 / month
At 9.5% for 5 years. You repay ₹10,08,089 in all — ₹2,08,089 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% | ₹25,254 | ₹19,719 | ₹16,413 | ₹14,223 | ₹12,669 |
| 9.0% | ₹25,440 | ₹19,908 | ₹16,607 | ₹14,420 | ₹12,871 |
| 9.5% | ₹25,626 | ₹20,099 | ₹16,801 | ₹14,620 | ₹13,075 |
| 10.0% | ₹25,814 | ₹20,290 | ₹16,998 | ₹14,821 | ₹13,281 |
| 10.5% | ₹26,002 | ₹20,483 | ₹17,195 | ₹15,023 | ₹13,489 |
| 11.0% | ₹26,191 | ₹20,676 | ₹17,394 | ₹15,227 | ₹13,698 |
Monthly reducing balance. Processing fees and insurance are extra.
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₹
₹8 lakh
%
yrs
Monthly EMI
₹16,801
for 5 years · you’ll repay ₹10,08,089 in total
What the loan really costs
Interest
₹2.08 L
26% of loan
Principal
₹8,00,000
Total interest
₹2,08,089
Total paid
₹10,08,089
In year one, 35% of every EMI goes to interest.
Year by year
PrincipalInterest
Full repayment schedule
5 years
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹1,31,234 | ₹70,383 | ₹6,68,766 |
| 2 | ₹1,44,259 | ₹57,359 | ₹5,24,506 |
| 3 | ₹1,58,576 | ₹43,041 | ₹3,65,930 |
| 4 | ₹1,74,315 | ₹27,303 | ₹1,91,615 |
| 5 | ₹1,91,615 | ₹10,003 | ₹0 |
Questions people ask
What is the EMI on ₹8 lakh for 7 years?
About ₹13,075 a month at 9.5%. That’s ₹3,726 less a month than 5 years, but ₹90.2K more in interest — on a car that loses value every year.
What salary do I need for a ₹8 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 ₹16,801 a month that’s an in-hand salary of roughly ₹1,12,010 or more.
How much down payment should I make?
At least 20%. A ₹8 lakh loan with 20% down means a car of about ₹10 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.