Monthly EMI: ₹8,274 at 8.85% for 5 years. Total interest: ₹96,440.
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With a ₹4 Lakh car loan from SBI at 8.85% for 5 years, you will pay a monthly EMI of ₹8,274. The total amount payable is ₹4,96,440, of which ₹96,440 is interest.
At 8.85% interest rate for 5 years, the EMI for ₹4 Lakh Car Loan from SBI is ₹8,274 per month. Total interest payable: ₹96,440.
SBI offers Car Loan at 8.85 - 9.55% p.a. The actual rate may vary based on your credit score, income, and the loan amount.
For ₹4 Lakh at 8.85% for 5 years, you would pay approximately ₹96,440 as total interest, making the total repayment ₹4,96,440.
SBI's prepayment policy for Car Loan: Nil after 6 months. Making prepayments can significantly reduce your total interest outgo.
SBI offers competitive rates starting from 8.85 - 9.55% with tenure up to 7 years. Compare with other banks on this page to find the best option for your ₹4 Lakh car loan.