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State Bank of India ₹10 lakh Car Loan EMI for 5 Years
At the advertised starting rate of 8.55%, the EMI is about ₹20,541 a month, with total interest of about ₹2,32,438.
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) | ₹20,541 | ₹2,32,438 | ₹12,32,438 |
| 9.05% | ₹20,783 | ₹2,46,958 | ₹12,46,958 |
| 9.55% | ₹21,026 | ₹2,61,578 | ₹12,61,578 |
| 10.05% | ₹21,272 | ₹2,76,299 | ₹12,76,299 |
| 10.55% | ₹21,519 | ₹2,91,121 | ₹12,91,121 |
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 | ₹1,67,449 | ₹79,039 | ₹2,46,488 | ₹8,32,551 |
| Year 2 | ₹1,82,340 | ₹64,148 | ₹2,46,488 | ₹6,50,211 |
| Year 3 | ₹1,98,556 | ₹47,932 | ₹2,46,488 | ₹4,51,656 |
| Year 4 | ₹2,16,214 | ₹30,274 | ₹2,46,488 | ₹2,35,442 |
| Year 5 | ₹2,35,442 | ₹11,046 | ₹2,46,488 | ₹0 |
Frequently asked questions
What is the EMI for a ₹10 lakh State Bank of India car loan for 5 years?
At State Bank of India's starting rate of 8.55% the EMI is about ₹20,541 a month. If your offered rate is 9.55% it would be about ₹21,026.
How much total interest will I pay?
At 8.55% the total interest over 5 years is about ₹2,32,438, so you repay about ₹12,32,438 in all.