SBI car and personal loan interest rates: How much will be your EMI on Rs 5 lakh, Rs 10 lakh, Rs 15 lakh, and Rs 20 lakh loans for 5 years

SBI car and personal loan calculator: Car and personal loans are two popular categories of loans. Cars are expensive, and their value depreciates with time. So, people prefer to purchase them on a loan, where they make a down payment and pay the rest of the amount in an equated monthly instalment (EMI). People take a personal loan to fulfil their personal requirements, such as renovating a property, covering medical expenses, or financing higher education. The most popular car and personal loan durations are two to five years. Like many banks, State Bank of India (SBI) also offers car loans and personal loans. Know the latest SBI car and personal loan interest rates and what will be the EMI on a Rs 5 lakh, Rs 10 lakh, Rs 15 lakh, and Rs 20 lakh car and personal loans for five years.   

SBI car loan

State Bank of India is offering car loans in the range of 8.75 per cent to 9.80 per cent annual interest rates (As per Paisabazaar.com). The processing fee for the loan can be up to Rs 1,500. The one who has taken a Rs five lakh, five-year car loan has to pay the EMI in the range of Rs 10,319 and Rs 10,554.

For a Rs 10 lakh car loan for five years, the EMI will be in the range of Rs 20,637 and Rs 21,149.

For a Rs 15 lakh car loan for five years, the EMI will be in the range of Rs 30,956 and Rs 31,723.

For a Rs 20 lakh car loan for five years, the EMI will be in the range of Rs 41,274 and Rs 42,298.

SBI personal loan

SBI is offering its personal loan in the range of 11.15 per cent to 15.30 per cent (As per Paisabazaar.com). The processing fee for the SBI personal loan can be 1.50 per cent of the total loan amount (minimum Rs 1,000 to maximum Rs 15,000).

A borrower with a Rs 5 lakh, 5-year personal loan has to pay the EMI in the range of Rs 10,909–Rs 11,974.

For a Rs 10 lakh personal loan for five years, the EMI will be in the range of Rs 21,817 and Rs 23,948.

For a Rs 15 lakh personal loan for five years, the EMI will be in the range of Rs 32,726 and Rs 35,922.

For a Rs 20 lakh personal loan for five years, the EMI will be in the range of Rs 43,635 and Rs 47,895.

(Disclaimer: Please check with SBI for the latest personal and car loans interest rates if you want to apply for the same)