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State Bank of India ₹8 lakh Car Loan EMI for 3 Years
At the advertised starting rate of 8.55%, the EMI is about ₹25,273 a month, with total interest of about ₹1,09,812.
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) | ₹25,273 | ₹1,09,812 | ₹9,09,812 |
| 9.05% | ₹25,458 | ₹1,16,503 | ₹9,16,503 |
| 9.55% | ₹25,645 | ₹1,23,222 | ₹9,23,222 |
| 10.05% | ₹25,833 | ₹1,29,971 | ₹9,29,971 |
| 10.55% | ₹26,021 | ₹1,36,750 | ₹9,36,750 |
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 | ₹2,44,297 | ₹58,974 | ₹3,03,271 | ₹5,55,703 |
| Year 2 | ₹2,66,023 | ₹37,248 | ₹3,03,271 | ₹2,89,680 |
| Year 3 | ₹2,89,680 | ₹13,590 | ₹3,03,271 | ₹0 |
Frequently asked questions
What is the EMI for a ₹8 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 ₹25,273 a month. If your offered rate is 9.55% it would be about ₹25,645.
How much total interest will I pay?
At 8.55% the total interest over 3 years is about ₹1,09,812, so you repay about ₹9,09,812 in all.