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SBI Car Loan for ₹20 Lakh

EMI: ₹41,371/month at 8.85%. Min income: ₹72,581/month.

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Your Details
Income Details
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Loan Parameters
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Eligibility Results
Maximum Eligible Loan
₹ 0
Monthly EMI
₹ 0
Total Interest
₹ 0
Total Payment
₹ 0
Monthly Income
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Existing EMIs
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New Loan EMI
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Remaining Income
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SBI Car Loan for ₹20 Lakh - Key Details

Interest Rate
8.85% p.a.
Monthly EMI
₹41,371
Total Interest
₹4,82,260
Total Payment
₹24,82,260
Min Income Required
₹72,581/mo
Processing Fee
0.50% of loan amount + GST

A ₹20 Lakh car loan from SBI at 8.85% interest for 5 years will cost you ₹41,371 per month as EMI. You will pay a total interest of ₹4,82,260 over the loan tenure. The minimum monthly income needed is ₹72,581 (assuming no existing EMIs).

Frequently Asked Questions

What is SBI car loan EMI for ₹20 Lakh?

SBI Car Loan EMI for ₹20 Lakh at 8.85% for 5 years is ₹41,371 per month.

What income do I need for ₹20 Lakh car loan from SBI?

You need a minimum monthly income of ₹72,581 for a ₹20 Lakh car loan from SBI (at 8.85% rate, assuming no existing EMIs).

What is the total interest on ₹20 Lakh car loan from SBI?

The total interest payable on ₹20 Lakh car loan from SBI at 8.85% for 5 years is ₹4,82,260.

What is SBI's processing fee for ₹20 Lakh car loan?

SBI charges a processing fee of 0.50% of loan amount + GST for Car Loan.

Can I prepay my SBI car loan?

SBI Car Loan prepayment policy: Nil after 6 months.

₹20 Lakh Car Loan from Other Banks

HDFC BankFrom 8.75 - 9.50%ICICI BankFrom 8.75 - 9.60%Axis BankFrom 8.70 - 12.50%Kotak Mahindra BankFrom 8.70 - 12.00%Bank of BarodaFrom 8.65 - 10.90%PNBFrom 8.85 - 10.30%Canara BankFrom 8.75 - 10.50%Union BankFrom 8.70 - 10.70%Indian BankFrom 8.80 - 10.30%IDBI BankFrom 8.80 - 11.00%

Other SBI Car Loan Amounts

₹3 LakhEMI ₹6,206/mo₹4 LakhEMI ₹8,274/mo₹5 LakhEMI ₹10,343/mo₹6 LakhEMI ₹12,411/mo₹7 LakhEMI ₹14,480/mo₹8 LakhEMI ₹16,549/mo₹9 LakhEMI ₹18,617/mo₹10 LakhEMI ₹20,686/mo