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Central Bank of India ₹15 lakh Car Loan EMI for 7 Years
At the advertised starting rate of 7.9%, the EMI is about ₹23,305 a month, with total interest of about ₹4,57,591.
Source: Central Bank of India 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 |
|---|---|---|---|
| 7.9% (starting) | ₹23,305 | ₹4,57,591 | ₹19,57,591 |
| 8.4% | ₹23,679 | ₹4,89,067 | ₹19,89,067 |
| 8.9% | ₹24,058 | ₹5,20,835 | ₹20,20,835 |
| 9.4% | ₹24,439 | ₹5,52,895 | ₹20,52,895 |
| 9.9% | ₹24,824 | ₹5,85,245 | ₹20,85,245 |
Year-by-year repayment schedule at 7.9%
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 | ₹1,67,121 | ₹1,12,535 | ₹2,79,656 | ₹13,32,879 |
| Year 2 | ₹1,80,812 | ₹98,844 | ₹2,79,656 | ₹11,52,067 |
| Year 3 | ₹1,95,625 | ₹84,031 | ₹2,79,656 | ₹9,56,441 |
| Year 4 | ₹2,11,652 | ₹68,004 | ₹2,79,656 | ₹7,44,790 |
| Year 5 | ₹2,28,991 | ₹50,665 | ₹2,79,656 | ₹5,15,799 |
| Year 6 | ₹2,47,751 | ₹31,905 | ₹2,79,656 | ₹2,68,048 |
| Year 7 | ₹2,68,048 | ₹11,608 | ₹2,79,656 | ₹0 |
Frequently asked questions
What is the EMI for a ₹15 lakh Central Bank of India car loan for 7 years?
At Central Bank of India's starting rate of 7.9% the EMI is about ₹23,305 a month. If your offered rate is 8.9% it would be about ₹24,058.
How much total interest will I pay?
At 7.9% the total interest over 7 years is about ₹4,57,591, so you repay about ₹19,57,591 in all.