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Bank of Maharashtra ₹10 lakh Car Loan EMI for 3 Years
At the advertised starting rate of 7.7%, the EMI is about ₹31,198 a month, with total interest of about ₹1,23,134.
Source: Bank of Maharashtra 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 |
|---|---|---|---|
| 7.7% (starting) | ₹31,198 | ₹1,23,134 | ₹11,23,134 |
| 8.2% | ₹31,429 | ₹1,31,434 | ₹11,31,434 |
| 8.7% | ₹31,660 | ₹1,39,771 | ₹11,39,771 |
| 9.2% | ₹31,893 | ₹1,48,144 | ₹11,48,144 |
| 9.7% | ₹32,127 | ₹1,56,555 | ₹11,56,555 |
Year-by-year repayment schedule at 7.7%
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 | ₹3,08,101 | ₹66,277 | ₹3,74,378 | ₹6,91,899 |
| Year 2 | ₹3,32,680 | ₹41,698 | ₹3,74,378 | ₹3,59,220 |
| Year 3 | ₹3,59,220 | ₹15,158 | ₹3,74,378 | ₹0 |
Frequently asked questions
What is the EMI for a ₹10 lakh Bank of Maharashtra car loan for 3 years?
At Bank of Maharashtra's starting rate of 7.7% the EMI is about ₹31,198 a month. If your offered rate is 8.7% it would be about ₹31,660.
How much total interest will I pay?
At 7.7% the total interest over 3 years is about ₹1,23,134, so you repay about ₹11,23,134 in all.