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State Bank of India ₹15 lakh Car Loan EMI for 5 Years
At the advertised starting rate of 8.55%, the EMI is about ₹30,811 a month, with total interest of about ₹3,48,657.
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) | ₹30,811 | ₹3,48,657 | ₹18,48,657 |
| 9.05% | ₹31,174 | ₹3,70,437 | ₹18,70,437 |
| 9.55% | ₹31,539 | ₹3,92,367 | ₹18,92,367 |
| 10.05% | ₹31,907 | ₹4,14,449 | ₹19,14,449 |
| 10.55% | ₹32,278 | ₹4,36,681 | ₹19,36,681 |
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 | ₹2,51,173 | ₹1,18,559 | ₹3,69,731 | ₹12,48,827 |
| Year 2 | ₹2,73,510 | ₹96,221 | ₹3,69,731 | ₹9,75,317 |
| Year 3 | ₹2,97,834 | ₹71,898 | ₹3,69,731 | ₹6,77,483 |
| Year 4 | ₹3,24,320 | ₹45,411 | ₹3,69,731 | ₹3,53,163 |
| Year 5 | ₹3,53,163 | ₹16,569 | ₹3,69,731 | ₹0 |
Frequently asked questions
What is the EMI for a ₹15 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 ₹30,811 a month. If your offered rate is 9.55% it would be about ₹31,539.
How much total interest will I pay?
At 8.55% the total interest over 5 years is about ₹3,48,657, so you repay about ₹18,48,657 in all.