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Bank of Maharashtra ₹10 lakh Car Loan EMI for 7 Years
At the advertised starting rate of 7.7%, the EMI is about ₹15,437 a month, with total interest of about ₹2,96,722.
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) | ₹15,437 | ₹2,96,722 | ₹12,96,722 |
| 8.2% | ₹15,686 | ₹3,17,628 | ₹13,17,628 |
| 8.7% | ₹15,937 | ₹3,38,729 | ₹13,38,729 |
| 9.2% | ₹16,191 | ₹3,60,024 | ₹13,60,024 |
| 9.7% | ₹16,447 | ₹3,81,513 | ₹13,81,513 |
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 | ₹1,12,149 | ₹73,097 | ₹1,85,246 | ₹8,87,851 |
| Year 2 | ₹1,21,096 | ₹64,150 | ₹1,85,246 | ₹7,66,755 |
| Year 3 | ₹1,30,757 | ₹54,489 | ₹1,85,246 | ₹6,35,998 |
| Year 4 | ₹1,41,188 | ₹44,058 | ₹1,85,246 | ₹4,94,810 |
| Year 5 | ₹1,52,451 | ₹32,795 | ₹1,85,246 | ₹3,42,359 |
| Year 6 | ₹1,64,613 | ₹20,633 | ₹1,85,246 | ₹1,77,746 |
| Year 7 | ₹1,77,746 | ₹7,500 | ₹1,85,246 | ₹0 |
Frequently asked questions
What is the EMI for a ₹10 lakh Bank of Maharashtra car loan for 7 years?
At Bank of Maharashtra's starting rate of 7.7% the EMI is about ₹15,437 a month. If your offered rate is 8.7% it would be about ₹15,937.
How much total interest will I pay?
At 7.7% the total interest over 7 years is about ₹2,96,722, so you repay about ₹12,96,722 in all.