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State Bank of India ₹10 lakh Car Loan EMI for 7 Years
At the advertised starting rate of 8.55%, the EMI is about ₹15,862 a month, with total interest of about ₹3,32,378.
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) | ₹15,862 | ₹3,32,378 | ₹13,32,378 |
| 9.05% | ₹16,114 | ₹3,53,615 | ₹13,53,615 |
| 9.55% | ₹16,370 | ₹3,75,046 | ₹13,75,046 |
| 10.05% | ₹16,627 | ₹3,96,671 | ₹13,96,671 |
| 10.55% | ₹16,887 | ₹4,18,487 | ₹14,18,487 |
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 | ₹1,09,047 | ₹81,292 | ₹1,90,340 | ₹8,90,953 |
| Year 2 | ₹1,18,745 | ₹71,595 | ₹1,90,340 | ₹7,72,208 |
| Year 3 | ₹1,29,305 | ₹61,035 | ₹1,90,340 | ₹6,42,903 |
| Year 4 | ₹1,40,804 | ₹49,535 | ₹1,90,340 | ₹5,02,098 |
| Year 5 | ₹1,53,326 | ₹37,013 | ₹1,90,340 | ₹3,48,772 |
| Year 6 | ₹1,66,962 | ₹23,378 | ₹1,90,340 | ₹1,81,810 |
| Year 7 | ₹1,81,810 | ₹8,530 | ₹1,90,340 | ₹0 |
Frequently asked questions
What is the EMI for a ₹10 lakh State Bank of India car loan for 7 years?
At State Bank of India's starting rate of 8.55% the EMI is about ₹15,862 a month. If your offered rate is 9.55% it would be about ₹16,370.
How much total interest will I pay?
At 8.55% the total interest over 7 years is about ₹3,32,378, so you repay about ₹13,32,378 in all.