At 7.55%, a 7-year ₹10 lakh car loan has an EMI nearly ₹15,766 lower than a 3-year one, but adds about ₹1.70 lakh in interest. See EMIs for 3, 5 and 7 years, rates from 7.55% to 14.30% and what. AI Quick Read A ₹10-15 lakh budget can leave car buyers with a tricky choice.