Monthly EMI: ₹14,480 at 8.85% for 5 years. Total interest: ₹1,68,800.
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With a ₹7 Lakh car loan from SBI at 8.85% for 5 years, you will pay a monthly EMI of ₹14,480. The total amount payable is ₹8,68,800, of which ₹1,68,800 is interest.
At 8.85% interest rate for 5 years, the EMI for ₹7 Lakh Car Loan from SBI is ₹14,480 per month. Total interest payable: ₹1,68,800.
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 ₹7 Lakh at 8.85% for 5 years, you would pay approximately ₹1,68,800 as total interest, making the total repayment ₹8,68,800.
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 ₹7 Lakh car loan.