SBI Used Car Loan EMI Calculator
Calculate monthly instalments on second-hand passenger car financing through SBI Certified Pre-Owned Car Loans.
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Official Rate Formula & Benchmark:
SBI provides pre-owned vehicle loans on reducing balance basis starting at 10.25% p.a. for certified vehicles up to 5 years of age.
Current official starting rate: 10.25% p.a. (Range: 10.25% – 12.50% p.a.).
SBI Used Car Loan EMI Calculator
Interactive calculation engine using official SBI rates
Official SBI Rate (10.25%)
₹5,00,000
₹1.00 L₹2.00 Cr
%
5.00%Published range: 10.25% - 12.5%20.00%
4 Years(48 mo)
1 Yr30 Yrs
Monthly EMI
₹12,741
For 4 years at 10.25% p.a. reducing balance
Principal Loan Amount₹5,00,000
Total Interest Payable₹1,11,592
Total Amount Payable₹6,11,592
Principal (81.8%)Interest (18.2%)
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 | ₹1,06,556 | ₹46,336 | ₹1,52,892 | ₹3,93,444 |
| Year 2 | ₹1,18,006 | ₹34,886 | ₹1,52,892 | ₹2,75,439 |
| Year 3 | ₹1,30,686 | ₹22,206 | ₹1,52,892 | ₹1,44,753 |
| Year 4 | ₹1,44,753 | ₹8,163 | ₹1,52,916 | ₹0 |
Rate Verification & Official Notice
Verified Official Published RateLast verified:
Rate Methodology →Headline / Starting Rate
10.25% p.a.
Effective Rate Range
10.25% – 12.50% p.a.
fixed RateBenchmark Index
SBI Base Spread
Applicable Conditions & Eligibility Factors:
- Finances certified pre-owned cars up to 5 years old
- Max tenure 5 years
Source: SBI Auto Loans Portal
Rates subject to borrower risk-grade & RBI regulatory changes.How It Works
- 1Finances passenger cars up to 5 years old.
- 2Tenures up to 60 months.
Key Factors Influencing Your Rate
- •Car valuation by authorized valuer
- •Borrower CIBIL score
Worked Numerical Example: SBI Used Car Loan EMI Calculator
Principal₹5,00,000
Rate Applied10.25% p.a.
Tenure4 Years
Monthly EMI₹12,741
For a ₹5,00,000 loan at 10.25% p.a. for 4 years (48 months), your monthly EMI is ₹12,741, with total interest of ₹1,11,592.
Frequently Asked Questions: SBI Used Car Loan EMI Calculator
- What is starting rate for SBI used car loan?
- 10.25% p.a.
- Max age of used car?
- Up to 5 years at loan sanction.