SBI Car Loan EMI Calculator

The SBI Car Loan EMI Calculator is an effective and efficient tool in calculating your monthly installments and helps you plan your finances accordingly, if you are looking for a car loan with SBI. This can serve as a crucial step if you are looking for the best bank options to choose a car loan from.

The SBI Car Loan EMI calculator can simplify the long calculations and eliminate error probabilities, which often happen while considering various variables such as size of the loan, tenure of the loan, rate of interest etc.

Read on to learn more about the SBI Car Loan calculator, how to use it, the benefits of using it and more.

Table of Contents:

• ⇾ SBI Car Loan EMI Interest Calculator
• ⇾ Benefits of SBI Car Loan EMI Calculator
• ⇾ Guide to Calculate SBI Car Loan EMI with Repayment
• ⇾ Steps for using SBI Car Loan EMI calculator
• ⇾ SBI Car Loan Types
• ⇾ SBI Car Loan for New and Used Cars
• ⇾ Frequently Asked Questions

SBI Car Loan EMI Interest Calculator

The SBI car loan EMI calculator allows users to determine EMI amounts based on three factors:

• Loan amount
• Interest rate
• Tenure

The SBI Car loan interest rate starts at 9.10% p.a. It is important to note that it can vary depending on the borrower profile and the type of vehicle financed.

The best thing about SBI Car Loan EMI Calculator is that it instantly provides EMI estimates based on loan amount, interest rate, tenure, and helps in comparisons between car loans from various banks. This helps borrowers plan their finances confidently and avoid repayment surprises.

Benefits of SBI Car Loan EMI Calculator

Using an SBI car loan calculator saves time and provides accurate EMI planning. It's ideal for borrowers comparing loan schemes or adjusting down payments. Here is a comprehensive list of benefits a customer can get by using SBI Car Loan EMI Calculator.

• Accurate EMI breakdown within seconds
• Supports new and used car loan scenarios
• Option to test prepayment impact
• Budget-friendly planning for monthly expenses
• Helps compare SBI with other lenders
• Assess the loan affordability
• Compare various loan options and find out the best option

The Sbi Emi Calculator is accessible through any device and browser, making it very flexible to use.

Guide to Calculate SBI Car Loan EMI with Repayment

Using the SBI Car Loan EMI calculator with prepayment option is an easy and effective method to understand how early payments affect total interest and loan duration.

Using an online Car Loan EMI Calculator tool is advised as it eliminates the risk of errors during manual calculations and provides accurate data.

Steps for using SBI Car Loan EMI calculator

To find the official SBI Car Loan EMI calculator easily,

1. Open the website of SBI securities (www.sbisecurities.in).
2. Hover over the option of ‘Calculators’ and choose ‘Car Loan EMI Calculator’ from it.
3. On the following interface, enter your
1. Loan amount,
2. Tenure in years &
3. Interest rates

in the respective places.

4. Hit ‘Calculate’.
5. Your principal amount, interest amount and total amount will be displayed.

You could also receive financial insights that could help you in repayment plans. The EMI calculator can also show interest saved if you prepay part of the loan. This can also help you plan your repayment or calculate the affordability of the loan with your income.

For manual calculations, the formula used to calculate the EMI is as follows:

EMI = [P × R × (1 + R)^N] / [(1 + R)^N – 1]

Where:

• P = Loan amount
• R = Monthly interest rate (Annual rate ÷ 12 ÷ 100)
• N = Loan tenure in months

For example, a ₹5 lakh loan at 9% p.a. for 5 years gives an EMI of approx. ₹10,377.

Here is a depiction of various EMI amounts payable, when considering a car loan from SBI over different tenures and amounts. Keep in mind that the interest rate is calculated as 9.20%.

Note: The values have been rounded to the nearest whole number for the ease of view. THe data is reliable, however, interest rates are subject to change at bank’s discretion and borrower profile. Please use this data for understanding purposes only.

Also read: SBI Personal loan EMI calculator

SBI Car Loan Types

There are multiple types of car loans provided by SBI, from which customers can benefit best from an option more suited for them.

The following are the types of car loans provided by SBI and their respective interest rates:

1. SBI New Car Loan Scheme
2. Certified Pre Owned Car Loan
3. SBI Loyalty Car Loan Scheme
4. SBI Assured Car Loan Scheme
5. SBI Green Car Loan (Electric Cars Loans)

Here is an overview of interest rates as of 2025:

The calculator applies a fixed rate formula based on MCLR (9.00%), which gives quick monthly EMI estimates. This makes it an essential SBI car loan calculator for anyone comparing loan options.

This tool is especially useful for salaried individuals, government employees, and early prepayment planners.

SBI Car Loan for New and Used Cars

SBI provides support as car loans for new and used cars. Using an SBI car loan EMI calculator, you can check monthly repayment based on the type of vehicle.

Here are the features of both loans:

New Car Loan:

Used Car Loan:

The car finance calculator SBI helps differentiate EMI costs between the two, factoring in down payment, interest rate, and tenure.