SBI Car Loan EMI Calculator: Your EMI at 8.55% to 9.50% by CIC Score
An SBI car loan EMI calculator is only as good as the rate you type in. SBI's new car rate is 8.55% to 9.50% p.a., fixed for the term, with the row set by your CIC score and by whether you repay within 5 years or beyond. At the 8.55% floor, ₹10 lakh for 5 years costs ₹20,541 a month and ₹2,32,438 in interest; at 9.50% it's ₹21,002 and ₹2,60,112. The calculator here is preset to SBI's grid.
How to use the SBI car loan EMI calculator
SBI prints one fixed rate per CIC score band and term, so the calculator needs three inputs: amount, years, and the rate from your row.
Find your rate row
Check your score (our car loan CIBIL score guide explains the bands), then read SBI's grid, shown below:
- 800 and above: 8.55% for a term of 3 to 5 years, 8.65% above 5 years.
- 775 to 799: 8.70% or 8.80%.
- 757 to 774: 8.80% or 8.90%.
- 721 to 756: 9.05% or 9.15%.
- 700 to 720: 9.30% or 9.40%.
- 650 to 699: 9.40% or 9.50%.
Adjust for the scheme
Electric car? Enter the Green Car Loan rate, 8.45% to 9.50%. SBI's Green Car Loan page talks of 25 basis points off the normal rate, yet its rates table prints a floor only 10 points lower (8.55 minus 8.45) and the same ceiling; we follow the table. SBI home loan borrowers get the Loyalty scheme at 8.50% to 9.45%. Used cars are priced at 10.60% to 15.75%, so nothing here applies to them.
Amount and tenure
SBI funds up to 100% of the on-road price, registration and insurance included. The longest new-car term is 7 years (84 months); the Green Car Loan allows 3 to 8. Choosing 6 or 7 years moves you to the above-5-years column, 10 basis points higher in every row (8.65 minus 8.55, and so on down).
Reading the EMI: what your score and your tenure cost
The EMI table below shows two patterns.
Score: a few hundred rupees a month, far more over the term
Take ₹15 lakh over 5 years. At 8.55% the EMI is ₹30,811 with ₹3,48,657 of interest; at 9.50% it's ₹31,503 and ₹3,90,168. The monthly gap is ₹692 (31,503 minus 30,811), yet the interest gap is ₹41,511 (3,90,168 minus 3,48,657).
Tenure: the bigger lever
Hold ₹15 lakh at 8.55% and change only the years. Over 3 years the EMI is ₹47,386 and the interest ₹2,05,898. Going to 5 years cuts the EMI by ₹16,575 (47,386 minus 30,811) but adds ₹1,42,759 of interest (3,48,657 minus 2,05,898). Going on to 7 years saves another ₹7,019 a month (30,811 minus 23,792) and adds ₹1,49,910 more (4,98,567 minus 3,48,657).
The per-lakh shortcut
EMI scales with the amount, so divide a ₹10 lakh figure by 10. At 8.55% that's about ₹3,159 per lakh over 3 years (31,591 divided by 10), ₹2,054 over 5 years (20,541 divided by 10) and ₹1,586 over 7 years (15,862 divided by 10).
A caveat on the 7-year columns
The 8.55% rate belongs to the 3 to 5 year column; an 800-plus scorer pays 8.65% beyond 5 years, so a top scorer's true 7-year EMI sits a little above ₹15,862 on ₹10 lakh. Likewise 9.50% is the above-5-years rate for 650 to 699, who pay 9.40% on a shorter term. The ₹10 lakh car loan EMI page sets SBI beside every other lender's floor.
What the calculator leaves out at SBI
Four SBI costs sit outside the EMI.
Processing fee. It steps up with the loan: on ₹10 lakh a salaried borrower or pensioner pays ₹1,000 plus GST and a non-salaried one ₹1,250; above ₹10 lakh it's ₹1,500 or ₹2,000; at ₹5 lakh or less, ₹500 or ₹750. NRI, Loyalty, Green and Assured borrowers pay nothing. A used car draws 1.50% of the loan, ₹3,000 to ₹10,000, plus GST. More on our car loan processing fee page.
Registration and insurance. SBI's on-road price includes both, so borrow the lot and you pay interest on them for the full term.
Flexi pay. With a term of at least 36 months you may pay half the regular EMI for the first 6 months; with at least 60 months, half for 6 months and three quarters for the next 6. On ₹10 lakh over 5 years at 8.55% that's about ₹10,270 at first (half of 20,541), then about ₹15,406 (three quarters of 20,541), and later EMIs catch up.
Closing early. Part-prepayment costs nothing. Foreclosing in the first 24 months costs 2% of the amount you close, plus GST; from the third year it's free.
When the figure changes, and when it can't
SBI's car loan is fixed: the rate applied at disbursement stays for the entire loan period. When the RBI raised the repo rate to 5.50% on 7 October 2026 (a 25 basis point move), no running SBI car loan changed.
Before disbursement the grid can move. It's priced off SBI's 3-month MCLR of 8.40%, and the rates page was last updated on 15 October 2026 with no effective date printed. What binds SBI is the Key Facts Statement, required before signing since 1 October 2024, with the rate type, the APR and the repayment schedule. Being fixed, the loan sits outside the RBI's 2025 directions on pre-payment charges, which protect floating-rate borrowers from 1 January 2026.
SBI disclosed that its auto loans averaged 8.9% in the second quarter of FY 2026-27, so most borrowers sit in a middle row; run the tool at yours. The SBI car loan page covers eligibility and rivals; the car loan EMI calculator page explains the formula.
How to choose the right car loan, and the mistakes to avoid
Start with the EMI you can carry, then let the calculator set the loan size. Decide whether fixed suits you: SBI's rate can't rise, but it can't fall either, and leaving inside 2 years costs 2%. Take the shortest term that fits; the ₹15 lakh example shows the price of each extra pair of years. Compare the APR on SBI's Key Facts Statement with a rival's, and check the other 30 lenders on the car loan hub.
Common mistakes: entering 8.45% for a petrol car (that's the Green Car Loan floor, shown as Auto Loan in SBI's quick links); forgetting that 6 or 7 years uses the dearer column; typing the ex-showroom price when SBI lends on the on-road price; and trusting the floor when SBI's own average last quarter was 8.9%.
Frequently asked questions
How do I use the SBI car loan EMI calculator?
What is the SBI car loan EMI for 10 lakh?
Is there an SBI car loan interest calculator?
What is the SBI car loan EMI per lakh?
What is the SBI car loan EMI for 7 years?
Does the SBI car loan calculator work with a CIBIL score?
What is the SBI Green Car Loan EMI?
What is the SBI used car loan EMI?
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Disclaimer. Car loan rates are indicative and subject to change. The final rate depends on the lender's assessment of your profile and the car. Last verified on 9 November 2026. BankCreds is not a lender.
Sources
- SBI: State Bank of India, Auto Loans Interest Rates
Last verified: 9 November 2026
Written by Anjali Bhargawa, reviewed by BankCreds Financial Experts
BankCreds does not sell cards or take applications. Fees and rewards change; the bank's own terms on the day you apply are what count, and approval is the bank's decision.