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SBI Car Loan EMI Calculator – Quick and Accurate Car Loan EMI Calculation Online

Easily Calculate Your SBI Car Loan EMI Monthly Payments

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Home / Life Insurance / Calculators / Articles / EMI Calculator / SBI Car Loan EMI Calculator

SBI Car Loan EMI Calculator

Calculate your SBI Car loan EMI & plan your finances wisely

Loan Amount
Rate of Interest(p.a)
Loan Tenure
Monthly EMI
₹ 1,135
Total Interest
₹ 36,258
Principal Amount
₹ 1,00,000
Total Amount Paid
₹ 1,36,258

SBI is one of India's most renowned banking institutions. For many years, it has been providing financial assistance to its customers and facilitating the distribution of savings. SBI gives loans to its clients and offers them deposit account services. It also offers customers more assistance through tools like SBI loan EMI calculators.

An SBI car loan EMI calculator is a tool that assists people in determining the monthly amount that they will have to pay back. It acts as a self-help device, helping individuals manage their monthly expenses and determine whether they can afford to allocate that amount for a particular purpose.

How SBI Car Loan EMI Calculator Can Enhance Your Financial Strategy
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Using the SBI car loan EMI calculator can be helpful in several ways:

An SBI car loan monthly EMI calculator works on the following formula:

EMI = P x R x (1+R)^N / [(1+R)^N-1]


Based on this standardised formula, our SBI car loan EMI calculator runs its algorithm and displays the EMI you’ll be liable to pay. This insight into the future EMI amount for a stipulated period will help you plan your finances accordingly.

A Guide to How SBI Car Loan EMI Calculator Calculates EMIs
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The three most important factors affecting a car loan's interest rate are credit score, income, and down payment amount. The SBI car loan EMI calculator calculates the fixed monthly payment amount based on the car owner's income, expenses, and loan interest rate. You can type these parameters into the calculator to get estimates, which will do the rest.


Consider the case where you secure an ₹8 lakh car loan from SBI and consequently pay 8.5% of the annual interest for three years.

Step 1: Find out the monthly rate of interest on your car loan

Step 2: Use the standard formula to calculate the car loan EMI

Step 3: Make the most of this EMI value to prepare an amortisation (repayment) schedule


Principal Paid

Interest Paid

Total EMI Paid 

Outstanding Principal

Year 1





Year 2





Year 3





Year 4





How To Use Acko SBI Car Loan EMI Calculator: Simplifying your Car Loan Planning
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Are you planning to buy a new car? The SBI Car Loan EMI Calculator from Acko is a highly reliable tool. Its incredibly easy-to-use platform simplifies the loan procedure. With a mere few clicks, this free tool provides accurate and detailed calculations and a breakdown so that you can make wise financial decisions. 

So, take the car loan preparation into your own hands. Acko's SBI car Loan EMI calculator solves the problems associated with your car purchase. It will give you the exact rates, the repayment schedule, and the freedom to manage your finances.

Car Loan and Term Insurance
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A car loan is a type of loan offered by lenders to individuals who need to purchase cars, whether new or pre-owned. During this period, the debtor makes monthly instalment payments (EMIs) to pay off the principal and interest of the loan.

Whether you agree or not! Having a car loan means you have financial liability. If something unfortunate were to happen to you, such as passing away unexpectedly, your loved ones might struggle to manage this debt on their own. However, with a term insurance plan in place, there's a clear solution.

The term insurance payout can cover the balance of the car loan and any other liabilities you may have. This direct linkage ensures that your loved ones won't be burdened with repaying the loan, providing them with financial support and preserving their ownership of the vehicle. However, you must review your policy, including any terms related to loan coverage and to what extent.

Advantages Of Acko SBI Car Loan EMI Calculator
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Here are the four key benefits of using our Acko SBI car loan EMI calculator:


Smart Budgeting
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The Acko calculator's SBI Car Loan EMI can help you make good decisions. By clearly defining your monthly EMI payments, you can draft a realistic budget that easily includes the car loan payments. This will enable you to circumvent dreadful financial shocks in the future.


Assurance of Accuracy
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The calculator eliminates human mistakes in complex calculations. It gives the correct EMI numbers based on the formula we used. Thus, you make the most of your information from trusted and valid sources.


Flexible Exploration
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Acko's calculator quickly shows different financing options. Simply adjust the settings to grasp how the loan amount and repayment duration influence the EMI. Because of this flexibility, your loan plan can fit your financial situation well.


Affordability Leads to Peace of Mind
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Make the most efforts to get your finances in order. Knowing that you control your financial life will make you feel better. By adjusting the loan parameters in the calculator, you can be sure that the EMI you have chosen will fit neatly into your monthly paycheck.

Customisation Options in the Acko SBI Car Loan EMI Calculator
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Acko realises that every car loan is different. So, using our SBI Car Loan EMI Calculator, you can personalise your plan with many features.

Customised Loan Tenure
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The main thing is to keep the right balance between the cost and the repayment schedule. Change the loan term to fit your economic situation. Decide wisely by observing how the loan term extension decreases the interest while raising the monthly instalments.

Flexible Loan Amounts
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The loan amount slider will be used to see the affordability of different forms of automobiles. Look at the EMIs that differ according to the car cost that one wants to buy.

Interest Rate Adjustments
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The calculator provides an approximate interest rate, but you can alter it to account for possible fluctuations that lenders might present. This lets you consider different situations and choose the loan with the best conditions.

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Planning your car budget is much easier with Acko's SBI Car Loan EMI Calculator. This calculator offers Smart Budgeting, Assurance of Accuracy, and Flexible Exploration. Harness the power of the ACKO SBI car loan EMI calculator today!

Frequently Asked Questions
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Here are some frequently asked questions related to SBI Car Loan EMI Calculator.


Who is eligible for an SBI car loan?

SBI car loans are available to salaried and self-employed people between the ages of 21 and 65.

What is an amortisation schedule for a car loan?

A car loan amortisation schedule presents your debt payment plan in tabular form. It shows the principal amount, interest rate, total amount paid, and remaining loan balance.

What is the maximum term for an Indian car loan from SBI Bank?

Car loans from the State Bank of India have a maximum seven-year payback period.

Can people pay off their car loans with SBI Bank early?

Yes, borrowers from SBI Bank may pay off their car loans early for a fee.