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Bank of Maharashtra ₹15 lakh Car Loan EMI for 5 Years
At the advertised starting rate of 7.7%, the EMI is about ₹30,200 a month, with total interest of about ₹3,11,981.
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) | ₹30,200 | ₹3,11,981 | ₹18,11,981 |
| 8.2% | ₹30,558 | ₹3,33,502 | ₹18,33,502 |
| 8.7% | ₹30,920 | ₹3,55,175 | ₹18,55,175 |
| 9.2% | ₹31,283 | ₹3,77,000 | ₹18,77,000 |
| 9.7% | ₹31,650 | ₹3,98,976 | ₹18,98,976 |
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 | ₹2,55,799 | ₹1,06,598 | ₹3,62,396 | ₹12,44,201 |
| Year 2 | ₹2,76,205 | ₹86,191 | ₹3,62,396 | ₹9,67,996 |
| Year 3 | ₹2,98,240 | ₹64,156 | ₹3,62,396 | ₹6,69,756 |
| Year 4 | ₹3,22,033 | ₹40,364 | ₹3,62,396 | ₹3,47,723 |
| Year 5 | ₹3,47,723 | ₹14,673 | ₹3,62,396 | ₹0 |
Frequently asked questions
What is the EMI for a ₹15 lakh Bank of Maharashtra car loan for 5 years?
At Bank of Maharashtra's starting rate of 7.7% the EMI is about ₹30,200 a month. If your offered rate is 8.7% it would be about ₹30,920.
How much total interest will I pay?
At 7.7% the total interest over 5 years is about ₹3,11,981, so you repay about ₹18,11,981 in all.