EV EMI Calculator
Plan your electric vehicle purchase with our comprehensive EMI calculator. Compare multiple vehicles, adjust loan terms, and make informed financial decisions.
Loan Calculator
EMI Summary
Key Financial Tips for Your EV
Consider these essential points for a smart and financially sound EV investment decision.
Cap EMI at 40% of Salary
A crucial guideline: ensure your Electric Vehicle's EMI, ideally along with all other monthly debt obligations, does not exceed 40% of your net monthly salary. This helps maintain healthy financial breathing room.
Larger Down Payment Advantage
Making a substantial down payment (aim for 20-25% or more if possible) significantly reduces your loan principal. This leads to more manageable EMIs and a lower total interest paid over the loan's lifetime.
Assess Total Cost of Ownership (TCO)
Look beyond just the purchase price and EMI. For EVs, evaluate the long-term TCO, which includes electricity costs for charging, significantly lower maintenance expenses compared to petrol/diesel cars, and potential battery replacement costs in the distant future.
Consider Battery Longevity
Battery replacement can be a significant cost in the EV lifecycle. Most modern EV batteries last 8-10 years, so factor this into your long-term financial planning, especially if financing for 7+ years.
EV-Specific Financing Options
Many financial institutions now offer specialized EV loan products with lower interest rates, longer tenure options, and special incentives to promote green transportation. Compare these options before finalizing your financing.