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Bank of Maharashtra ₹5 lakh Car Loan EMI for 3 Years
At the advertised starting rate of 7.7%, the EMI is about ₹15,599 a month, with total interest of about ₹61,567.
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) | ₹15,599 | ₹61,567 | ₹5,61,567 |
| 8.2% | ₹15,714 | ₹65,717 | ₹5,65,717 |
| 8.7% | ₹15,830 | ₹69,885 | ₹5,69,885 |
| 9.2% | ₹15,946 | ₹74,072 | ₹5,74,072 |
| 9.7% | ₹16,063 | ₹78,277 | ₹5,78,277 |
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 | ₹1,54,050 | ₹33,139 | ₹1,87,189 | ₹3,45,950 |
| Year 2 | ₹1,66,340 | ₹20,849 | ₹1,87,189 | ₹1,79,610 |
| Year 3 | ₹1,79,610 | ₹7,579 | ₹1,87,189 | ₹0 |
Frequently asked questions
What is the EMI for a ₹5 lakh Bank of Maharashtra car loan for 3 years?
At Bank of Maharashtra's starting rate of 7.7% the EMI is about ₹15,599 a month. If your offered rate is 8.7% it would be about ₹15,830.
How much total interest will I pay?
At 7.7% the total interest over 3 years is about ₹61,567, so you repay about ₹5,61,567 in all.