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To take a car loan, you can choose the country's largest government bank, State Bank of India i.e. SBI. SBI offers car loans to its customers at very good interest rates.

Almost every person dreams of having his car, but buying a car is a big deal for common people. Lakhs of rupees are needed to buy a car. In such a situation, common people take a car loan from the bank to fulfill this dream. Car loans are given by different banks at different interest rates. In such a situation, if you are planning to buy a car by taking a car loan, then you should take a car loan from a bank, whose interest rates are lower than other banks.

To take a car loan, you can choose the country's largest government bank, State Bank of India i.e. SBI. SBI offers car loans to its customers at very good interest rates.

SBI Car Loan

Talking about the interest rates of SBI car loans, the initial interest rates of SBI car loans start from 9.10 percent. This interest rate can be higher depending on your eligibility and your CIBIL score.

Monthly EMI on a car loan of Rs 7 lakh from SBI

If you are taking a car loan of Rs 7 lakh from SBI for a period of 5 years and you get this loan at an interest rate of 7.10 percent, then you will have to pay Rs 14,565 every month as EMI. In this way, you will pay a total of Rs 8,73,891 to the bank in 5 years. In such a situation, you will give a total of Rs 1,73,891 to the bank only as interest.