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State Bank of India ₹8 lakh Car Loan EMI for 5 Years
At the advertised starting rate of 8.55%, the EMI is about ₹16,433 a month, with total interest of about ₹1,85,951.
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) | ₹16,433 | ₹1,85,951 | ₹9,85,951 |
| 9.05% | ₹16,626 | ₹1,97,566 | ₹9,97,566 |
| 9.55% | ₹16,821 | ₹2,09,263 | ₹10,09,263 |
| 10.05% | ₹17,017 | ₹2,21,039 | ₹10,21,039 |
| 10.55% | ₹17,215 | ₹2,32,897 | ₹10,32,897 |
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 | ₹1,33,959 | ₹63,231 | ₹1,97,190 | ₹6,66,041 |
| Year 2 | ₹1,45,872 | ₹51,318 | ₹1,97,190 | ₹5,20,169 |
| Year 3 | ₹1,58,845 | ₹38,345 | ₹1,97,190 | ₹3,61,324 |
| Year 4 | ₹1,72,971 | ₹24,219 | ₹1,97,190 | ₹1,88,353 |
| Year 5 | ₹1,88,353 | ₹8,837 | ₹1,97,190 | ₹0 |
Frequently asked questions
What is the EMI for a ₹8 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 ₹16,433 a month. If your offered rate is 9.55% it would be about ₹16,821.
How much total interest will I pay?
At 8.55% the total interest over 5 years is about ₹1,85,951, so you repay about ₹9,85,951 in all.