💳 EV EMI Calculator
Calculate your monthly EMI for any electric vehicle in India
Enter Loan Details
₹15.00 Lakh
₹3.00 Lakh (20%)
Typical EV loan rate: 8% – 12%
Loan Amount:
₹12,00,000
(Vehicle Price − Down Payment)
Monthly EMI
₹24,897
Total Interest
₹2,93,820
Total Payment
₹14,93,820
Principal: ₹12,00,000
Interest: ₹2,93,820
Principal portion
Interest portion
📊 EMI Comparison by Tenure
| Tenure | Monthly EMI | Total Interest | Total Payment |
|---|
💡 EV Loan Tips
›
Higher down payment = lower EMI and total interest paid.
›
Many banks offer special lower interest rates for EV loans. Compare before applying.
›
FAME II subsidy reduces your effective vehicle cost — subtract it from the price above.
›
State subsidies can further reduce your loan amount.
›
Shorter tenure = higher EMI but much less interest overall.
🏦 EV Loan Interest Rates
SBI
8.00% – 9.25%
HDFC Bank
8.50% – 10.00%
ICICI Bank
8.75% – 10.50%
Axis Bank
9.00% – 11.00%
Kotak Bank
8.50% – 10.25%
*Indicative rates. Actual rates may vary. As of Jun 2026.