EMI for 8 Lakh Car Loan — Compare Rates and Tenures
Calculate exact EMI for Rs 8 lakh car loan at different interest rates and tenures from 3 to 7 years.
Rs 8 lakh is a typical car loan amount for popular mid-segment vehicles in India like Maruti Brezza Hyundai Venue Tata Nexon and similar SUVs and sedans. At 8.5% for 5 years the monthly EMI is Rs 16384 with total interest of Rs 1.83 lakh. Shorter tenures save significantly on interest since cars depreciate fast.
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Key Information
| Parameter | Details |
|---|---|
| EMI at 8.5% for 3 years | Rs 25228 per month |
| EMI at 8.5% for 5 years | Rs 16384 per month |
| Total Interest (8.5% 3 yrs) | Rs 1.08 lakh |
| Total Interest (8.5% 7 yrs) | Rs 2.56 lakh |
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Use Calculator NowFrequently Asked Questions
Best tenure for 8 lakh car loan?
3 years: Rs 25228 EMI total interest Rs 1.08L. 5 years: Rs 16384 EMI total interest Rs 1.83L. 7 years: Rs 12729 EMI total interest Rs 2.56L. Cars lose 50% value in 5 years — a 7-year loan means you owe more than the car is worth after year 4. Choose 3-5 years maximum.
What salary for 8 lakh car loan?
At 8.5% for 5 years EMI is Rs 16384. Banks want car EMI under 15-20% of monthly income. Minimum salary: Rs 82000-109000. However many banks approve car loans more easily than personal loans due to the vehicle serving as collateral.
Down payment for 8 lakh car loan?
Most banks require 10-20% down payment on the on-road price. On a Rs 10 lakh on-road car with Rs 8L loan: your down payment is Rs 2L (20%). Some dealers offer zero or 5% down payment schemes but these usually come with higher interest rates or mandatory accessories.
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Last updated: March 2026