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Axis Bank ₹15 lakh Car Loan EMI for 7 Years
At the advertised starting rate of 8.8%, the EMI is about ₹23,982 a month, with total interest of about ₹5,14,458.
Source: Axis Bank official page, checked 2 November 2026.
These figures use the bank's advertised starting rate. Most borrowers are offered a higher rate depending on credit score, income and loan size, so treat the result as a best case.
Prepayment options (optional): pay extra to finish sooner
EMI at higher rates
| Rate | EMI | Total interest | Total payment |
|---|---|---|---|
| 8.8% (starting) | ₹23,982 | ₹5,14,458 | ₹20,14,458 |
| 9.3% | ₹24,363 | ₹5,46,460 | ₹20,46,460 |
| 9.8% | ₹24,747 | ₹5,78,752 | ₹20,78,752 |
| 10.3% | ₹25,135 | ₹6,11,332 | ₹21,11,332 |
| 10.8% | ₹25,526 | ₹6,44,200 | ₹21,44,200 |
Year-by-year repayment schedule at 8.8%
How much of each year's payments goes to principal and to interest, and what you still owe at the end of the year. Use the calculator above for a month-by-month view and prepayment options.
| Year | Principal | Interest | Paid | Balance left |
|---|---|---|---|---|
| Year 1 | ₹1,62,219 | ₹1,25,561 | ₹2,87,780 | ₹13,37,781 |
| Year 2 | ₹1,77,084 | ₹1,10,695 | ₹2,87,780 | ₹11,60,697 |
| Year 3 | ₹1,93,312 | ₹94,468 | ₹2,87,780 | ₹9,67,385 |
| Year 4 | ₹2,11,027 | ₹76,753 | ₹2,87,780 | ₹7,56,358 |
| Year 5 | ₹2,30,365 | ₹57,415 | ₹2,87,780 | ₹5,25,994 |
| Year 6 | ₹2,51,475 | ₹36,305 | ₹2,87,780 | ₹2,74,519 |
| Year 7 | ₹2,74,519 | ₹13,261 | ₹2,87,780 | ₹0 |
Frequently asked questions
What is the EMI for a ₹15 lakh Axis Bank car loan for 7 years?
At Axis Bank's starting rate of 8.8% the EMI is about ₹23,982 a month. If your offered rate is 9.8% it would be about ₹24,747.
How much total interest will I pay?
At 8.8% the total interest over 7 years is about ₹5,14,458, so you repay about ₹20,14,458 in all.