Car Loan EMI calculator SBI

You can use the Car Loan EMI Calculator sbi tool to figure out how much you'll have to pay in Equated Monthly Instalments (EMI) to repay your SBI Car Loan. Calculating the EMI can assist you in better organising your monthly budget because you will know how much of your monthly earnings will be used to repay the loan. You can then decide whether you can afford to repay the car loan based on your financial situation.

SBI Car Loan EMI

For years, SBI has been one of India's most trusted financial organisations, providing financial aid to its consumers and assisting in the channelling of deposits. SBI not only provides bank account services but also provides loans to its consumers. It also provides customers with tools such as SBI loan EMI calculators to assist them further.

SBI offers a variety of automobile loan options, each of which is tailored to the needs of the applicants.

As an example,

  • To buy a new car, you can use the SBI New Car Loan Scheme.

  • A person who wants to buy a two-wheeler and a four-wheeler can use the SBI Combo Loan Scheme.

  • Individuals who want to buy a certified pre-owned car can apply for an SBI Certified Pre-Owned Car Loan.

  • SBI Loyalty Car Loan Scheme is available to SBI home loan borrowers.

  • The SBI Nano Young Car Loan Scheme is specifically designed to promote Tata Nano cars among India's youth and is available to them.

  • Each of these SBI vehicle loan alternatives is available for a different term and at a different interest rate.

As a result, the EMI amount that individuals must pay is influenced by the tenure, loan amount, and rate of interest. Borrowers, for example, must pay a larger EMI when taking out a loan with a shorter term.



Interest Rate

7.75% - 8.45%

Processing Fee

New Cars: No processing fees

Used Cars: 0.50% of loan amount + GST; Min INR 450 + GST & Max: INR 9100 + GST

Foreclosure Charges


Loan Tenure

1-7 Years for New Cars

1-5 Years for Old Cars

SBI Car Loan calculator

A car loan emi calculator sbi is one such tool that helps people figure out how much they'll have to pay each month on their auto loan. It serves as a self-help tool, assisting users in better planning their monthly payments while also assisting them in determining whether or not the amount is affordable to them.

Loan amount   

Loan tenure   

Interest rate  

Processing fee   


Rs.5 lakh

1 year




Rs.5 lakh

5 years




Rs.10 lakh

1 year




Rs.10 lakh

5 years




Rs.15 lakh

1 year




Rs.15 lakh

5 years




How to use the SBI car loan EMI calculator

Here's how to use the car loan EMI calculator SBI:-

  • Select your preferred loan amount and loan term using the slider.

  • Enter the applicable interest rate as well as the processing charge.

  • Select "Calculate" from the drop-down menu.

  • The EMI payable under the loan will then be displayed by the calculator. 

Then scroll down and click the plus symbol next to “Your Amortization Details” to see a graphical representation of the amounts being paid, as well as the year-by-year and month-by-month breakdown of the loan repayment schedule.

Who Qualifies for an SBI Car Loan emi

SBI car loans are available to salary, self-employed business people and professionals, partnership firms, and even agriculturists. The loan is valid for new and pre-owned cars, commonly known as old or used cars, in the categories of passenger cars, multi-utility vehicles (MUVs), sports utility vehicles (SUVs), and other vehicles.






21-65 years

21-65 years

21-65 years


The net annual salary of the applicant and/or co-applicant, if any, together should at least be ₹ 3 lakhs

Net profit or gross taxable income of ₹ 4 lakhs per year (You can club the income of co-applicants such as your spouse, son, daughter, sister or brother)

The net annual income of the applicant and/or co-applicant, if any, must come out to be ₹ 4 lakhs

Max. Loan Amount

48 times of net monthly salary

4 times Net Profit or Gross Taxable income as per ITR after adding back depreciation and repayment of all the existing loans running in your account

3 times of net annual income

How Much sbi Car Loan you can take

In the case of new cars, SBI gives a loan up to 85 percent of the on-road price. The on-road price is calculated by adding the ex-showroom price to the costs of registration, road tax, insurance, and accessories, if applicable. In the case of used autos, the bank can support an amount equal to 80% of the valuation amount. So, keep these facts in mind while you negotiate with the auto dealer to get the greatest offer.

SBI car loan prepayment calculator

  • You can prepay or pay a portion of your loan at once with SBI. This lowers the outstanding principal and, as a result, the EMI for the remaining loan term. You can also choose to shorten the loan term and pay higher EMIs to pay off your loan as quickly as possible.
  • SBI car loan prepayment calculator will show you how your loan schedule will alter if you pay it off early. You can use the calculator to figure out how much you want to prepay and how much EMI you'll have to pay after that.

Frequently asked questions

What is the formula for determining the EMI for a car loan?

EMI The following formula is used to compute it:-

  • EMI = [P x R x (1+R) ^N] / [(1+R) ^N – 1],
  • Where P is the principal amount, R denotes the monthly interest rate, and N denotes the number of payments.
  • The pre-payments you make toward the loan are not taken into account by this formula.

What is an amortisation schedule for a car loan?

In a tabular style, a vehicle loan amortisation chart illustrates the payment plan of your debt. It shows how the principal, interest rate, total paid amount, and outstanding loan balance are broken out.

What distinguishes an SBI Car Loan from others?

Low EMIs, speedy loan disbursement, on-road price including yearly maintenance contract, registration taxes, cost of extras, and extended warranty and insurance are the primary benefits of the SBI Car Loan.

What is the SBI Car Loan emi minimum limit?

The SBI Car loan has a minimum EMI limit of Rs. 1,622 per lakh. Both the principal and interest amounts are included in the EMI payment.

What is the term of the SBI Car Loan?

Ans. SBI car loans have a maximum term of seven years.

Is there a penalty for paying off SBI car loans early?

No, there are no penalties for paying off such debts early.