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Bank of Maharashtra ₹5 lakh Car Loan EMI for 7 Years
At the advertised starting rate of 7.7%, the EMI is about ₹7,719 a month, with total interest of about ₹1,48,361.
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) | ₹7,719 | ₹1,48,361 | ₹6,48,361 |
| 8.2% | ₹7,843 | ₹1,58,814 | ₹6,58,814 |
| 8.7% | ₹7,969 | ₹1,69,364 | ₹6,69,364 |
| 9.2% | ₹8,095 | ₹1,80,012 | ₹6,80,012 |
| 9.7% | ₹8,223 | ₹1,90,757 | ₹6,90,757 |
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 | ₹56,075 | ₹36,548 | ₹92,623 | ₹4,43,925 |
| Year 2 | ₹60,548 | ₹32,075 | ₹92,623 | ₹3,83,377 |
| Year 3 | ₹65,378 | ₹27,245 | ₹92,623 | ₹3,17,999 |
| Year 4 | ₹70,594 | ₹22,029 | ₹92,623 | ₹2,47,405 |
| Year 5 | ₹76,226 | ₹16,397 | ₹92,623 | ₹1,71,180 |
| Year 6 | ₹82,307 | ₹10,316 | ₹92,623 | ₹88,873 |
| Year 7 | ₹88,873 | ₹3,750 | ₹92,623 | ₹0 |
Frequently asked questions
What is the EMI for a ₹5 lakh Bank of Maharashtra car loan for 7 years?
At Bank of Maharashtra's starting rate of 7.7% the EMI is about ₹7,719 a month. If your offered rate is 8.7% it would be about ₹7,969.
How much total interest will I pay?
At 7.7% the total interest over 7 years is about ₹1,48,361, so you repay about ₹6,48,361 in all.