SBI Car Loan EMI Calculator
Estimate monthly EMIs on an SBI New Car Loan with flexible repayment tenures and financing up to 90% of on-road vehicle price.
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Official Rate Formula & Benchmark:
SBI calculates vehicle financing EMIs using monthly reducing balance interest linked to 1-Year MCLR. Starting rate is 8.65% p.a.
Current official starting rate: 8.65% p.a. (Range: 8.65% – 9.80% p.a.).
SBI Car Loan EMI Calculator
Interactive calculation engine using official SBI rates
Official SBI Rate (8.65%)
₹8,00,000
₹1.00 L₹2.00 Cr
%
5.00%Published range: 8.65% - 9.8%20.00%
5 Years(60 mo)
1 Yr30 Yrs
Monthly EMI
₹16,471
For 5 years at 8.65% p.a. reducing balance
Principal Loan Amount₹8,00,000
Total Interest Payable₹1,88,269
Total Amount Payable₹9,88,269
Principal (80.9%)Interest (19.1%)
Calculated according to standard Indian banking methodology (Quarterly compounding for deposits, monthly reducing balance for loans).
Yearly Repayment Schedule
| Year | Principal Paid | Interest Paid | Total Paid | Balance |
|---|---|---|---|---|
| Year 1 | ₹1,33,669 | ₹63,983 | ₹1,97,652 | ₹6,66,331 |
| Year 2 | ₹1,45,701 | ₹51,951 | ₹1,97,652 | ₹5,20,630 |
| Year 3 | ₹1,58,816 | ₹38,836 | ₹1,97,652 | ₹3,61,814 |
| Year 4 | ₹1,73,111 | ₹24,541 | ₹1,97,652 | ₹1,88,703 |
| Year 5 | ₹1,88,703 | ₹8,958 | ₹1,97,661 | ₹0 |
Rate Verification & Official Notice
Verified Official Published RateLast verified:
Rate Methodology →Headline / Starting Rate
8.65% p.a.
Effective Rate Range
8.65% – 9.80% p.a.
floating RateBenchmark Index
1-Year MCLR (8.95%)
Applicable Conditions & Eligibility Factors:
- Up to 90% on-road financing
- Zero prepayment penalty on floating car loans
Source: SBI Official Portal - Auto Loans
Rates subject to borrower risk-grade & RBI regulatory changes.How It Works
- 1Financing up to 90% of on-road price.
- 2Repayment tenures from 1 to 7 years.
Key Factors Influencing Your Rate
- •CIBIL Score (750+ for lowest rate)
- •Car model and manufacturer ties
Worked Numerical Example: SBI Car Loan EMI Calculator
Principal₹8,00,000
Rate Applied8.65% p.a.
Tenure5 Years
Monthly EMI₹16,471
For a ₹8,00,000 loan at 8.65% p.a. for 5 years (60 months), your monthly EMI is ₹16,471, with total interest of ₹1,88,269.
Frequently Asked Questions: SBI Car Loan EMI Calculator
- What is SBI car loan starting rate?
- Starts from 8.65% p.a.
- Max loan tenure?
- Up to 84 months.