PNB Car Loan EMI Calculator
A Punjab National Bank car loan helps you finance a new or used vehicle while spreading the cost over a few years of fixed monthly instalments. This calculator estimates the EMI on a PNB car loan, the total interest across the tenure, and the principal-versus-interest split, so you can match the monthly outgo to your budget before you visit the showroom or the branch.
- Principal
- ₹8,00,000
- Total Interest
- ₹2,10,437
- Total Payment
- ₹10,10,437
Monthly EMI
₹16,841
- Principal79%
- Interest21%
Formula
EMI = P × r × (1 + r)ⁿ ÷ [(1 + r)ⁿ − 1]
- P
- Principal — the car loan amount after your down payment.
- r
- Monthly interest rate = annual rate ÷ 12 ÷ 100.
- n
- Tenure in months; car loans typically run 5 to 7 years.
The bigger your down payment, the smaller the principal financed — which lowers both the EMI and the total interest you pay to PNB.
Worked example
Suppose you finance ₹8,00,000 of a car through PNB at an indicative 9.6% per annum over 5 years (60 months).
- Loan Amount (P)
- ₹8,00,000
- Annual Interest Rate
- 9.6% (indicative)
- Tenure
- 5 years (60 months)
EMI ≈ ₹16,841; total repayment ≈ ₹10,10,437; total interest ≈ ₹2,10,437.
Year-by-year repayment breakdown
Based on the default PNB Car Loan EMI Calculator values above — the loan amount, interest rate and tenure shown in the calculator. Adjust the sliders to recalculate your own figures.
- Monthly EMI
- ₹16,841
- Total interest
- ₹2,10,437
- Total payment
- ₹10,10,437
- Interest / principal
- 26%
In the first year, about 35% of what you pay goes towards interest rather than reducing the balance. From year 1 onwards, more of each year's payments goes to principal than to interest.
| Year | Principal paid | Interest paid | Total paid | Balance |
|---|---|---|---|---|
| 1 | ₹1,30,955 | ₹71,137 | ₹2,02,092 | ₹6.69 Lakh |
| 2 | ₹1,44,094 | ₹57,998 | ₹2,02,092 | ₹5.25 Lakh |
| 3 | ₹1,58,552 | ₹43,539 | ₹2,02,091 | ₹3.66 Lakh |
| 4 | ₹1,74,462 | ₹27,630 | ₹2,02,092 | ₹1.92 Lakh |
| 5 | ₹1,91,937 | ₹10,125 | ₹2,02,062 | ₹0 |
How this calculator works
Enter the amount you plan to finance after your down payment, the rate PNB quotes, and the repayment tenure. The tool applies the reducing-balance EMI formula and returns your monthly instalment, total repayment, and total interest. Car loans are usually fixed-rate over a moderate tenure, so the EMI stays steady and is easy to plan around month to month.
Matching the loan to the car
A car is a depreciating asset, so the goal is to finance it sensibly rather than stretch the loan to its limit. A larger down payment and a shorter tenure keep your total interest down and reduce the risk of being underwater on the loan. Run the numbers here for a couple of down-payment and tenure combinations, then confirm you are comfortable with the EMI before factoring in running costs like fuel, servicing, and insurance.
Tips before you borrow
- Confirm the live rate, and whether it differs for new versus used cars, with Punjab National Bank.
- Make the largest down payment you reasonably can to cut interest.
- Prefer a shorter tenure so you are not paying for the car long after it has aged.
- Budget for insurance, registration, road tax, and processing fees on top of the EMI.
Frequently asked questions
Is the 9.6% rate PNB's actual car loan rate?
No, it is an indicative figure for illustration. Car loan rates differ for new versus used vehicles and depend on your credit profile and the bank's benchmark. Confirm the live rate with Punjab National Bank before committing.
How much down payment should I make?
Banks usually finance a large share of the on-road price and you fund the rest as down payment. A bigger down payment lowers the financed principal, which reduces both your EMI and total interest. Test different amounts here to see the effect.
Does a longer car loan tenure help?
A longer tenure lowers the monthly EMI but increases total interest, and since cars depreciate quickly you can end up owing more than the car is worth. A shorter tenure usually makes more sense if the EMI stays affordable.
Are new and used car loan rates the same?
Usually not. Used-car loans typically carry higher rates and shorter maximum tenures than new-car loans because the asset is older. Ask PNB for the specific rate that applies to the vehicle you are buying.
Does this estimate include insurance or registration?
No. The EMI covers loan principal and interest only. Vehicle insurance, registration, road tax, and any processing fee are separate costs you should budget for alongside the EMI.