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State Bank of India ₹15 lakh Car Loan EMI for 3 Years
At the advertised starting rate of 8.55%, the EMI is about ₹47,386 a month, with total interest of about ₹2,05,898.
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) | ₹47,386 | ₹2,05,898 | ₹17,05,898 |
| 9.05% | ₹47,735 | ₹2,18,442 | ₹17,18,442 |
| 9.55% | ₹48,084 | ₹2,31,042 | ₹17,31,042 |
| 10.05% | ₹48,436 | ₹2,43,696 | ₹17,43,696 |
| 10.55% | ₹48,789 | ₹2,56,405 | ₹17,56,405 |
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 | ₹4,58,057 | ₹1,10,576 | ₹5,68,633 | ₹10,41,943 |
| Year 2 | ₹4,98,792 | ₹69,840 | ₹5,68,633 | ₹5,43,151 |
| Year 3 | ₹5,43,151 | ₹25,482 | ₹5,68,633 | ₹0 |
Frequently asked questions
What is the EMI for a ₹15 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 ₹47,386 a month. If your offered rate is 9.55% it would be about ₹48,084.
How much total interest will I pay?
At 8.55% the total interest over 3 years is about ₹2,05,898, so you repay about ₹17,05,898 in all.