SBI Car Loan EMI Calculator

Loan Amount

₹10,00,000

₹1,00,000₹10,00,00,000

Rate of Interest (p.a.)

6.5%

1%30%

Loan Tenure

5 Years

1 Year30 Years

Monthly EMI

₹19,566

Principal Amount

Interest Amount

Loan Amount

₹10,00,000

Interest Amount

₹1,73,969

Total Amount

₹11,73,969

Principal Amount

Interest Amount

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SBI Car Loan EMI Calculator

Calculate Your Monthly EMI for SBI Car Loans Instantly

The SBI Car Loan EMI Calculator helps you estimate the monthly installment, total interest payable, and total repayment amount for car loans offered by the State Bank of India. Whether you’re buying a new or used vehicle, this tool enables you to plan your EMI and budget efficiently before taking a loan.

What Is an SBI Car Loan?

An SBI Car Loan is a secured loan offered by the State Bank of India to help individuals purchase new or pre-owned vehicles. The loan offers:

Loan amounts up to 90% of on-road price
Interest rates starting around 8.65% p.a. (subject to credit score)
Tenure of up to 7 years
Zero prepayment penalty for floating-rate loans
Quick processing with minimal documentation

How the SBI Car Loan EMI Calculator Works

Inputs Required:

Loan amount
Interest rate (% p.a.)
Loan tenure (in months or years)

Formula Used:

EMI = [P × r × (1 + r)ⁿ] / [(1 + r)ⁿ – 1]

P: Principal loan amount
r: Monthly interest rate = annual rate ÷ 12 ÷ 100
n: Tenure in months

Output Provided:

Monthly EMI
Total interest payable
Total repayment amount (principal + interest)

Example

For a car loan of ₹10 lakh at 9% interest over 5 years (60 months):

Monthly EMI: ₹20,758
Total repayment: ₹12.45 lakh
Total interest paid: ₹2.45 lakh

Benefits of Using the SBI Car Loan EMI Calculator

Instant and accurate EMI estimates
Compare multiple loan options (amounts, rates, tenures)
Helps determine affordable EMIs before applying
Useful for both new and used car loan planning

Disclaimer : The results given by the above calculator are for illustration purpose only. They are often based on a number of assumptions. The results given are in no way any guarantee of the returns that will be given. Investments in stock markets and securities markets are subject to market risks and other risks. There is no guarantee of the return that will be actually given. Investment in other financial products may also be subject to market risks and other risks. There is no guarantee of the returns that will be given by them. The calculator also does not make any recommendation directly or indirectly. Please consult a registered Financial Advisor before taking any investment decision.

FAQs on SBI Car Loan EMI Calculator

What is the SBI Car Loan EMI Calculator?

It’s an online tool that helps you calculate the monthly EMI, total interest, and repayment amount for a car loan from the State Bank of India based on the loan amount, interest rate, and tenure.

What is the current SBI car loan interest rate?

SBI car loan rates typically start from 8.65% p.a., but the actual rate depends on your CIBIL score, loan tenure, and type of vehicle.

What is the maximum tenure for SBI car loans?

SBI offers a repayment tenure of up to 7 years (84 months), depending on your profile and vehicle type.

Can I prepay or foreclose my SBI car loan?

Yes. SBI allows part-prepayment and foreclosure without any charges on floating-rate loans. Fixed-rate loans may have nominal penalties.

How does tenure affect EMI?

Longer tenure reduces the EMI but increases total interest. Shorter tenure increases EMI but reduces interest burden.

Is the EMI fixed throughout the loan?

Yes. For fixed-rate loans, EMI remains the same for the full term. For floating-rate loans (rare in car loans), EMI may change if rates are revised.

Can I get a car loan with zero down payment?

SBI typically finances up to 90% of the on-road price, but a minimum margin/down payment of 10% is usually required. Zero down payment may be offered in select cases or promotions.