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State Bank of India ₹5 lakh Car Loan EMI for 3 Years
At the advertised starting rate of 8.55%, the EMI is about ₹15,795 a month, with total interest of about ₹68,633.
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) | ₹15,795 | ₹68,633 | ₹5,68,633 |
| 9.05% | ₹15,912 | ₹72,814 | ₹5,72,814 |
| 9.55% | ₹16,028 | ₹77,014 | ₹5,77,014 |
| 10.05% | ₹16,145 | ₹81,232 | ₹5,81,232 |
| 10.55% | ₹16,263 | ₹85,468 | ₹5,85,468 |
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 | ₹1,52,686 | ₹36,859 | ₹1,89,544 | ₹3,47,314 |
| Year 2 | ₹1,66,264 | ₹23,280 | ₹1,89,544 | ₹1,81,050 |
| Year 3 | ₹1,81,050 | ₹8,494 | ₹1,89,544 | ₹0 |
Frequently asked questions
What is the EMI for a ₹5 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 ₹15,795 a month. If your offered rate is 9.55% it would be about ₹16,028.
How much total interest will I pay?
At 8.55% the total interest over 3 years is about ₹68,633, so you repay about ₹5,68,633 in all.