Car Loan EMI for ₹1.5 Lakh — Monthly Payment Calculator
Your EMI for a ₹1,50,000 car loan at 8.5% is ₹3,077/month. Adjust rate and tenure below.
Your Monthly EMI
₹3,077
Principal
₹1,50,000
Total Interest
₹34,649
Total Payable
₹1,84,649
Breakdown
Principal: ₹1,50,000 (81%)
Total Interest: ₹34,649 (19%)
Interest-to-Principal: 23.1%
📊 Interactive EMI Breakdown
Principal vs Interest
Year-by-Year Payment Split
CIBIL Score Insight (India)
Check typical credit score requirements for car loan eligibility
A higher CIBIL score improves your approval chances and may help you negotiate a lower interest rate. Car loans are secured against the vehicle, so lenders may accept slightly lower scores than unsecured loans.
Any Bank: General industry preference across all types of lenders.
⚠️ CIBIL score ranges shown are typical industry preferences. Actual eligibility and interest rates depend on lender policy, income, existing obligations, employment, property profile, and documentation. Learn more about CIBIL Score →
Car Loan Scenario Comparison
| Metric | Your plan | +1% Interest (9.5%) | +12 Months (72mo) |
|---|---|---|---|
| Monthly EMI | ₹3,077 | ₹3,150 ↑ ₹73 | ₹2,667 ↓ ₹410 |
| Total Interest | ₹34,649 | ₹39,017 ↑ ₹4,368 | ₹42,007 ↑ ₹7,358 |
| Total Payable | ₹1,84,649 | ₹1,89,017 | ₹1,92,007 |
💡 Understanding Your ₹1.5 Lakh Car Loan EMI
A ₹1.5 Lakh car loan is common for buyers financing older pre-owned vehicles — models like a 2015–2018 Maruti Alto, Hyundai Eon, or Datsun Go. At 8.5% over 5 years, your EMI is ₹3,077 per month with ₹34,620 in total interest. This is a low-commitment loan that most individuals earning ₹18,000+ per month can handle comfortably. The key consideration at this price point is whether the car's remaining useful life justifies the 5-year loan commitment — older vehicles may need ₹15,000–₹30,000/year in maintenance.
Before taking a ₹1.5 Lakh used car loan, get the vehicle inspected by an independent mechanic. A pre-purchase inspection costs ₹1,000–₹2,000 and can save you from expensive engine or suspension repairs later. Also verify the car's service history, accident history (via the insurance claim record), and remaining insurance validity. Banks typically require the vehicle to be no older than 7–10 years at loan maturity, so a 2017 car with a 5-year loan may be on the edge of eligibility.