HDFC Car Loan EMI Calculator

Yearly/monthly repayment schedule
MonthBeginning balanceEMIPrincipalInterestEnding Balance
MonthBeginning balanceEMIPrincipalInterestEnding Balance
EMI payable
Payable amount
Total Interest
Loan amount

The HDFC Car Loan EMI Calculator is the perfect tool to help you estimate your car loan EMI payments with accuracy, so you can take the first step towards confidently owning your dream car. We understand that buying a car is an exciting milestone, but it's important to understand the financial commitment involved. 

This user-friendly calculator simplifies this process by providing instant calculations based on your loan amount, interest rate, and tenure. Whether you're planning to purchase a new or used car, our calculator empowers you to make informed decisions by offering transparent insights into your monthly EMI obligations. Don't let the financial aspect of owning a car hold you back. Explore the possibilities today and make your dream a reality with HDFC Car Loan EMI Calculator.

How to Calculate EMI for a Car Loan from HDFC Bank?

HDFC Car Loan EMI is calculated as follows:

EMI = P x R x (1+R) ^N / [(1+R) ^N-1]


  • P = Principal amount of the Loan
  • R = Rate of interest
  • N = Number of monthly instalments

For example, let's say someone takes out a Rs. 2 lakh car loan with an annual interest rate of 8.1% for a one-year term. He will receive his EMI as

EMI = [2,00,000 X 8.1 X (1+8.1)^12]/ [(1+8.1%)^(12-1)]

EMI, therefore, equals Rs. 17,407 (approximately)

What are some key features of using a Car loan Calculator for HDFC Bank?

  • The car loan EMI calculator accurately predicts total interest and monthly EMI. 
  • Using precise algorithms, it swiftly calculates the EMI amount. 
  • Essential information includes vehicle type, loan amount, loan duration, and anticipated interest rate. 
  • The calculator estimates the total loan EMI based on these inputs, with actual rates potentially varying slightly.

Is HDFC Bank Car Loan Good?

HDFC Bank Car Loan can be a good choice that provides borrowers valuable insights into repayment commitments, aiding in efficient budgeting and loan strategising. Its precision enables well-informed decisions, ensuring alignment with borrowers' financial capabilities and objectives.

Does HDFC Bank provide a 100% Car Loan?

Yes, we can obtain an instant car loan with 100% on-road price funding with flexible EMI options, quick approvals, simple processing, and instant disbursement. 

Can I close my HDFC Bank car loan early?

Yes, it is possible to prepay or terminate your car loan early. Follow the below-mentioned steps to closure:

  • Go to HDFC Bank's official website and log in.
  • Choose the loan that needs to be closed. 
  • Choose the foreclosure request service type. 
  • Choose the closest branch and your city from the dropdown menu.
  • After displaying the outstanding loan amount, choose the cause for closure and confirm. Keep the request open.
  • Open the link you received in your SMS and confirm with your OTP. Verify terms and conditions before completing the payment through the payment gateway. 

What is the minimum salary for a car loan from HDFC Bank?

The minimum salary for availing HDFC Bank car loan is at least Rs 3 lakhs each year for an individual to avail. The fewest amount of documents is required to maximise your convenience. Use an HDFC Bank car loan to buy the vehicle of your dreams.

What is the current HDFC Bank car loan interest rate?

Interest Rates and Fees for HDFC Car Loans Interest rates starts from 8.28% p.a.

Who can avail of HDFC Bank Car Loans?

  • Car loans extend to self-employed and salaried individuals aged 21 to 65 who meet monthly income thresholds, maintain good credit, handle debts responsibly, and preferably have permanent employment. 
  • Properly registered entities with turnovers meeting specified criteria, financial stability, and necessary business documentation are eligible for car loans.
  • Individuals who maintain active accounts and have long-standing relationships with banks may enjoy additional benefits or favourable terms for car loan eligibility.

What is the minimum EMI limit for HDFC Bank Car Loan?

The limit for HDFC Bank Car Loan is affected by variables like the loan amount, interest rate, and loan length, which affect the minimum Equated Monthly Instalment (EMI) for a car loan from HDFC Bank. HDFC Bank offers a variety of EMIs with varying tenure options and interest rates, hence providing flexibility. 

What is the tenure for an HDFC Bank Car Loan?

One of the key elements that determines your EMI is tenure. You can maintain a low EMI if you choose the most extended car loan term. You will be responsible for a higher EMI if you select a shorter term. You can select a tenure from HDFC Bank that is flexible and lasts up to seven years.

Is there a penalty on the prepayment of HDFC Bank car loans?

A 5% fee will be added to the part payment amount if the prepayment is made within 24 months of the first EMI. A 3% fee will be applied to the portion of the payment amount if the partial prepayment is made 24 months after the first EMI. 

What are the main features of an HDFC Bank Car Loan?

  • It gives you a clear picture of your monthly vehicle loan payments, which aids in budget planning.
  • To determine the best loan option, you can evaluate several possibilities by changing criteria like loan amount, interest rate, and tenure.
  • The process of calculating EMI can be laborious and error-prone. Results from an EMI calculator are accurate and fast.
  • You can try out various loan options to determine which monthly payment best fits your budget.
  • You might evaluate the effects of making additional or prepayments to lower interest and expedite loan repayment.

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