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Bank of Maharashtra ₹8 lakh Car Loan EMI for 5 Years
At the advertised starting rate of 7.7%, the EMI is about ₹16,106 a month, with total interest of about ₹1,66,390.
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) | ₹16,106 | ₹1,66,390 | ₹9,66,390 |
| 8.2% | ₹16,298 | ₹1,77,868 | ₹9,77,868 |
| 8.7% | ₹16,490 | ₹1,89,427 | ₹9,89,427 |
| 9.2% | ₹16,684 | ₹2,01,067 | ₹10,01,067 |
| 9.7% | ₹16,880 | ₹2,12,787 | ₹10,12,787 |
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 | ₹1,36,426 | ₹56,852 | ₹1,93,278 | ₹6,63,574 |
| Year 2 | ₹1,47,310 | ₹45,968 | ₹1,93,278 | ₹5,16,264 |
| Year 3 | ₹1,59,061 | ₹34,217 | ₹1,93,278 | ₹3,57,203 |
| Year 4 | ₹1,71,751 | ₹21,527 | ₹1,93,278 | ₹1,85,452 |
| Year 5 | ₹1,85,452 | ₹7,826 | ₹1,93,278 | ₹0 |
Frequently asked questions
What is the EMI for a ₹8 lakh Bank of Maharashtra car loan for 5 years?
At Bank of Maharashtra's starting rate of 7.7% the EMI is about ₹16,106 a month. If your offered rate is 8.7% it would be about ₹16,490.
How much total interest will I pay?
At 7.7% the total interest over 5 years is about ₹1,66,390, so you repay about ₹9,66,390 in all.