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Bank of Maharashtra ₹8 lakh Car Loan EMI for 7 Years
At the advertised starting rate of 7.7%, the EMI is about ₹12,350 a month, with total interest of about ₹2,37,378.
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) | ₹12,350 | ₹2,37,378 | ₹10,37,378 |
| 8.2% | ₹12,549 | ₹2,54,102 | ₹10,54,102 |
| 8.7% | ₹12,750 | ₹2,70,983 | ₹10,70,983 |
| 9.2% | ₹12,953 | ₹2,88,019 | ₹10,88,019 |
| 9.7% | ₹13,157 | ₹3,05,211 | ₹11,05,211 |
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 | ₹89,719 | ₹58,478 | ₹1,48,197 | ₹7,10,281 |
| Year 2 | ₹96,877 | ₹51,320 | ₹1,48,197 | ₹6,13,404 |
| Year 3 | ₹1,04,605 | ₹43,592 | ₹1,48,197 | ₹5,08,799 |
| Year 4 | ₹1,12,950 | ₹35,247 | ₹1,48,197 | ₹3,95,848 |
| Year 5 | ₹1,21,961 | ₹26,236 | ₹1,48,197 | ₹2,73,887 |
| Year 6 | ₹1,31,691 | ₹16,506 | ₹1,48,197 | ₹1,42,197 |
| Year 7 | ₹1,42,197 | ₹6,000 | ₹1,48,197 | ₹0 |
Frequently asked questions
What is the EMI for a ₹8 lakh Bank of Maharashtra car loan for 7 years?
At Bank of Maharashtra's starting rate of 7.7% the EMI is about ₹12,350 a month. If your offered rate is 8.7% it would be about ₹12,750.
How much total interest will I pay?
At 7.7% the total interest over 7 years is about ₹2,37,378, so you repay about ₹10,37,378 in all.