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Bank of Maharashtra ₹15 lakh Car Loan EMI for 3 Years
At the advertised starting rate of 7.7%, the EMI is about ₹46,797 a month, with total interest of about ₹1,84,700.
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) | ₹46,797 | ₹1,84,700 | ₹16,84,700 |
| 8.2% | ₹47,143 | ₹1,97,150 | ₹16,97,150 |
| 8.7% | ₹47,490 | ₹2,09,656 | ₹17,09,656 |
| 9.2% | ₹47,839 | ₹2,22,216 | ₹17,22,216 |
| 9.7% | ₹48,190 | ₹2,34,832 | ₹17,34,832 |
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 | ₹4,62,151 | ₹99,416 | ₹5,61,567 | ₹10,37,849 |
| Year 2 | ₹4,99,020 | ₹62,547 | ₹5,61,567 | ₹5,38,830 |
| Year 3 | ₹5,38,830 | ₹22,737 | ₹5,61,567 | ₹0 |
Frequently asked questions
What is the EMI for a ₹15 lakh Bank of Maharashtra car loan for 3 years?
At Bank of Maharashtra's starting rate of 7.7% the EMI is about ₹46,797 a month. If your offered rate is 8.7% it would be about ₹47,490.
How much total interest will I pay?
At 7.7% the total interest over 3 years is about ₹1,84,700, so you repay about ₹16,84,700 in all.