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State Bank of India ₹8 lakh Car Loan EMI for 7 Years
At the advertised starting rate of 8.55%, the EMI is about ₹12,689 a month, with total interest of about ₹2,65,902.
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) | ₹12,689 | ₹2,65,902 | ₹10,65,902 |
| 9.05% | ₹12,892 | ₹2,82,892 | ₹10,82,892 |
| 9.55% | ₹13,096 | ₹3,00,037 | ₹11,00,037 |
| 10.05% | ₹13,302 | ₹3,17,336 | ₹11,17,336 |
| 10.55% | ₹13,509 | ₹3,34,789 | ₹11,34,789 |
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 | ₹87,238 | ₹65,034 | ₹1,52,272 | ₹7,12,762 |
| Year 2 | ₹94,996 | ₹57,276 | ₹1,52,272 | ₹6,17,766 |
| Year 3 | ₹1,03,444 | ₹48,828 | ₹1,52,272 | ₹5,14,322 |
| Year 4 | ₹1,12,644 | ₹39,628 | ₹1,52,272 | ₹4,01,679 |
| Year 5 | ₹1,22,661 | ₹29,611 | ₹1,52,272 | ₹2,79,018 |
| Year 6 | ₹1,33,569 | ₹18,702 | ₹1,52,272 | ₹1,45,448 |
| Year 7 | ₹1,45,448 | ₹6,824 | ₹1,52,272 | ₹0 |
Frequently asked questions
What is the EMI for a ₹8 lakh State Bank of India car loan for 7 years?
At State Bank of India's starting rate of 8.55% the EMI is about ₹12,689 a month. If your offered rate is 9.55% it would be about ₹13,096.
How much total interest will I pay?
At 8.55% the total interest over 7 years is about ₹2,65,902, so you repay about ₹10,65,902 in all.