With increasing automobile industry expansion., India is the world’s 4th largest market for 4 wheelers, growing at 9.5% annually. With more people looking for a means to finance their dream cars, the need for a trusted and user-friendly car loan EMI calculator has increased. The Pice EMI Calculator is here to help you plan, budget, and make informed decisions, from determining your monthly instalments to understanding the full cost of the loan.

Today, a new car is within reach for many, thanks to car loans from various lenders. No longer is it necessary to save up for years; instead, with a steady income and a good credit score, you can secure a pre-approved car loan application with flexible tenure and loan amounts. For those seeking a quick, reliable online tool, an EMI calculator simplifies the math, letting you know exactly what to expect each month. Here are the major benefits of using a car loan interest rate calculator:

• Saves Valuable Time: A car loan EMI calculator provides instant results, replacing the need for manual calculations and ensuring precision.
• Error-Free Calculation: Unlike manual calculations, an online calculator guarantees accuracy every time.
• Better Financial Planning: When you know your monthly payment, it’s easier to align the loan with your financial situation. For expensive cars needing a larger loan amount, you can adjust the loan term to spread out the repayments.
• Comprehensive Loan Breakdown: The calculator breaks down your loan costs into key components such as principal loan amount, interest payable, and processing fee, providing clear insight into each aspect of your loan.

At Pice, we use a standardised formula to determine your monthly EMI:

The calculator financial tool gives you the exact numbers without following any complex calculation process or any mistake in seconds. Where:

• P = Loan Principal
• R = Monthly interest rate (annual rate divided by 12)
• N = Loan tenure in months

Let’s take another example using the Pice Car Loan EMI Calculator with a loan amount of ₹10,00,000. Suppose:

• Principal (P) = ₹10,00,000
• Interest Rate (R) = 10% per annum (or 0.84% monthly rate)
• Tenure (N) = 5 years (or 60 months)

Using the EMI Calculator formula:

1. Monthly Interest Rate (R) = 8% / 12 months = 0.84% or 0.00833
2. EMI Calculation: As per the calculation based on the formula, monthly EMI is approximately ₹21,245 At the end of the term, you’ll have repaid ₹12,74,700, with ₹2,74,700 as interest.

Before applying for a business loan, ensure your business meets the minimum turnover requirement, as this can influence your loan approval as the loan differs from business to business. Other factors, such as your credit score, business vintage, and financial stability, may also impact the loan application process and interest rate. The Pice Business Loan EMI Calculator enables prospective loan applicants to experiment with different loan amounts and repayment terms, facilitating the selection of the best financing options for specific business needs and investment decisions.

Here's an amortization schedule sample for an ₹11 lakh loan with a 5-year tenure at 9% interest.

Each month, the interest decreases while the principal component increases, creating a clear pathway to full repayment.

Using our car loan calculator is simple and accessible from any device:

• Step 1: Enter the Loan Amount: Input the principal amount you want to borrow.
• Step 2: Specify Interest Rate: Select your interest rate—whether fixed or variable.
• Step 3: Define Loan Tenure: Choose your entire loan tenure in months or years.
• Step 3: Click Calculate: Instantly view your EMI, total interest, and overall repayment amount.

Our online car loan EMI calculator brings transparency and simplicity to your financial planning by instant estimates .

1. Secure Data Storage: Your information is safe and protected with Pice.
2. Unlimited Free Usage: Register once to access the calculator as many times as needed.
3. User-Friendly: It’s designed to be accurate and easy to use, eliminating any calculation errors.
4. Saves Time and Money: Plan efficiently, comparing loans to choose the most affordable repayment options.
5. Detailed Repayment Schedule: Get a downloadable EMI schedule to track loan repayment.
6. Customizable Loan Options: Adjust loan terms, interest rates, and amounts to find the best fit.

Start planning today—calculate your car loan EMIs with Pice and bring your dream car within reach!