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State Bank of India ₹10 lakh Car Loan EMI for 3 Years
At the advertised starting rate of 8.55%, the EMI is about ₹31,591 a month, with total interest of about ₹1,37,266.
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.
Prepayment options (optional): pay extra to finish sooner
EMI at higher rates
| Rate | EMI | Total interest | Total payment |
|---|---|---|---|
| 8.55% (starting) | ₹31,591 | ₹1,37,266 | ₹11,37,266 |
| 9.05% | ₹31,823 | ₹1,45,628 | ₹11,45,628 |
| 9.55% | ₹32,056 | ₹1,54,028 | ₹11,54,028 |
| 10.05% | ₹32,291 | ₹1,62,464 | ₹11,62,464 |
| 10.55% | ₹32,526 | ₹1,70,937 | ₹11,70,937 |
Year-by-year repayment schedule at 8.55%
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 | ₹3,05,371 | ₹73,717 | ₹3,79,089 | ₹6,94,629 |
| Year 2 | ₹3,32,528 | ₹46,560 | ₹3,79,089 | ₹3,62,100 |
| Year 3 | ₹3,62,100 | ₹16,988 | ₹3,79,089 | ₹0 |
Frequently asked questions
What is the EMI for a ₹10 lakh State Bank of India car loan for 3 years?
At State Bank of India's starting rate of 8.55% the EMI is about ₹31,591 a month. If your offered rate is 9.55% it would be about ₹32,056.
How much total interest will I pay?
At 8.55% the total interest over 3 years is about ₹1,37,266, so you repay about ₹11,37,266 in all.