The SBI Car Loan EMI Calculator is an effective and efficient tool in calculating your monthly instalments 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.
The SBI Car Loan EMI Calculator provides quick, accurate monthly repayment estimates based on loan amount, tenure, and rate, helping borrowers plan effectively—especially with prepayment and used car loan options.
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.
Get Personal Loan Online Up to ₹15 Lakhs
By entering your number, you're agreeing to Terms & Conditions & Privacy Policy.
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,
-
- Open the website of SBI securities (www.sbisecurities.in).
- Hover over the option of ‘Calculators’ and choose ‘Car Loan EMI Calculator’ from it.
- On the following interface, enter your
- Loan amount,
- Tenure in years &
- Interest rates
in the respective places.
- Hit ‘Calculate’.
- 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%.
| Amount / Tenure | ₹1 Lakh | ₹5 Lakhs | ₹10 Lakhs | ₹25 Lakhs | ₹50 Lakhs | ₹1 Crore |
|---|---|---|---|---|---|---|
| 1 Year | ₹8,747 | ₹43,735 | ₹87,470 | ₹2,18,675 | ₹4,37,350 | ₹8,74,700 |
| 2 Years | ₹4,578 | ₹22,890 | ₹45,780 | ₹1,14,450 | ₹2,28,900 | ₹4,57,800 |
| 3 Years | ₹3,187 | ₹15,935 | ₹31,870 | ₹79,675 | ₹1,59,350 | ₹3,18,700 |
| 4 Years | ₹2,488 | ₹12,440 | ₹24,880 | ₹62,200 | ₹1,24,400 | ₹2,48,800 |
| 5 Years | ₹2,088 | ₹10,440 | ₹20,880 | ₹52,200 | ₹1,04,400 | ₹2,08,800 |
| 6 Years | ₹1,811 | ₹9,055 | ₹18,110 | ₹45,275 | ₹90,550 | ₹1,81,100 |
| 7 Years | ₹1,643 | ₹8,215 | ₹16,430 | ₹41,075 | ₹82,150 | ₹1,64,300 |
Note: The values have been rounded to the nearest whole number for ease of view. The data is reliable; however, interest rates are subject to change at the 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 the most from an option more suited to them.
The following are the types of car loans provided by SBI and their respective interest rates:
- SBI New Car Loan Scheme
- Certified Pre Owned Car Loan
- SBI Loyalty Car Loan Scheme
- SBI Assured Car Loan Scheme
- SBI Green Car Loan (Electric Cars Loans)
Here is an overview of interest rates as of 2025:
| Regular Borrowers (EV) | 9.10% onwards 9.20% onwards |
| Used Car Loans | Up to 11.75% p.a |
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 for car loans for new and used cars. Using an SBI car loan EMI calculator, you can check the monthly repayment based on the type of vehicle.
Here are the features of both loans:
New Car Loan:
| Tenure | Maximum 7 years |
| Minimum amount | 1 lakh |
| Maximum amount | 90% of on-road price |
| Advance EMI | Nil |
| Interest Rates | 9.20% – 10.15% p.a. |
| Interest Type | Daily Reducing Balance |
| Prepayment charges | Nil |
Used Car Loan:
| Interest Rate | 9.75% – 11.50% p.a. |
| Age | 21-67 Years |
| Tenure | Maximum 5 years |
| Loan Amount | ₹3 lakhs – ₹100 lakhs |
| Minimum Income: |
|
The car finance calculator SBI helps differentiate EMI costs between the two, factoring in down payment, interest rate, and tenure.
Download the Buddy Loan App Now!
One solution to each of your financial needs at your fingertip.
Scan to download now
