MathMyLoan Free call back
Home loan starting ratesBank of Maharashtra 7.25%Indian Bank 7.35%Canara Bank 7.40%PNB 7.45%Central Bank 7.45%SBI 7.50%Federal Bank 7.50%Kotak 7.60%IDFC FIRST 7.75%Axis Bank 8.00%ICICI Bank 8.50%HDFC Bank 8.50%

Home › Car Loan › State Bank of India

State Bank of India Car Loan Interest Rate November 2026

Updated 2 November 2026Rates from official bank websitesHow we check rates

State Bank of India advertises car loan rates starting from 8.55% per annum. For ₹8 lakh over 5 years that is an EMI of about ₹16,433 a month.

Starting rate8.55%per annum
EMI per month₹16,433₹8 lakh, 5 years
Total interest₹1,85,951over the full term
Max tenuren/aas stated by the bank

SBI car loan rates and charges

Starting interest rate8.55% per annum
Applies toCIC score 800 or more, tenure 3 to 5 years; range 8.55% to 9.50% (3-month MCLR 8.40%)
Processing feeNot stated on the page we checked
PrepaymentNot stated on the page we checked
Maximum tenureNot stated on the page we checked

Source: State 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.

SBI car loan EMI calculator

Prepayment options (optional): pay extra to finish sooner

Apply or get a call back for a State Bank of India car loan

Share your details and a partner lender or loan advisor may call you. No fee from us.

Shared only with partner lenders or loan advisors, and only with your consent.

₹5 lakh for 3 years₹5 lakh for 5 years₹5 lakh for 7 years₹8 lakh for 3 years₹8 lakh for 5 years₹8 lakh for 7 years₹10 lakh for 3 years₹10 lakh for 5 years₹10 lakh for 7 years₹15 lakh for 3 years₹15 lakh for 5 years₹15 lakh for 7 years

Compare State Bank of India with other banks

SBI vs Bank of MaharashtraSBI vs Indian BankSBI vs Canara BankSBI vs Bank of BarodaSBI vs Union BankSBI vs Federal BankSBI vs PNBSBI vs Central BankSBI vs ICICI BankSBI vs HDFC BankSBI vs Axis Bank

Frequently asked questions

What is the State Bank of India car loan interest rate?

State Bank of India's website advertises car loan rates starting from 8.55% per annum (checked 2026-11-02). The rate you get depends on your credit score, income and loan amount.

What is the EMI on a ₹8 lakh car loan from State Bank of India?

At the starting rate of 8.55% over 5 years the EMI is about ₹16,433 a month, with total interest of about ₹1,85,951. A higher personal rate would raise this.

What is the processing fee for a State Bank of India car loan?

The State Bank of India page we checked did not state a processing fee. Please confirm it with the bank's fee schedule before applying.

Does State Bank of India charge prepayment charges on a car loan?

The page we checked did not state prepayment terms. Please confirm with the bank.

EligibilityFree call back