| Interest Rate Range | Processing Fee Range |
Loan Amount
|
Tenure Range
|
| 9.30%Floating | 0 |
- |
7 Years
|
About SBI Car Loan
Since 1973 in action that's non-profit termed Community Services Banking SBI Bank is involved. Administrative offices throughout the nation their branches and Each sponsor and take part in many social causes and welfare activities. Their business is over banking since the lives of people touch anywhere. Their commitment to nation-building is complete & comprehensive.
SBI supply the perfect automobile loan plan for you. Continue Reading to find out about the eligibility and documentation requirements into the SBI Automobile Loan. State Bank of India, there is a Fortune 500 firm one of the establishments in India with services which range from banking, corporate banking, NRI solutions to banking. The devotion to its contributions towards nation building and the society of SBI have made recognition and benefits from across the world. SBI has also evolved and adapted and has become a leader in providing innovative banking options itself. State Bank of India presents car loan plans with the loan tenure, competitive interest rates and flexible repayment options.
Documentation needed to apply for an SBI Car Loan
1. Residence proof
2. Photo ID and age proof
3. Signed application form with photograph
4. Last 6 months bank statement
5. Documentation for salaried applicants:
- Last 3 months salary – slips
- Form 16 or Income Tax Returns
6. Documentation for self-employed applicants:
- Last 3 years Income Tax Returns with computation of Income
- Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account
SBI Car Loan Interest Rates
| Interest Rate | Men : 9.30% Women : 9.25% |
| Processing Fees | Nil |
| Pre Closure Charges | Nil |
| Loan Tenure | 1 year to 7 years |
Why choose a SBI Car Loan?
State Bank of India offers car loans to salaried professionals, self-employed professionals, partnership firms and farmers of every class. SBI Car Loans are provided for multi utility vehicles, new passenger cars and SUVs. With so many options like this, the SBI Car Loan Scheme becomes a natural choice for an applicant, who wants to buy a car of his choice.
Features of SBI Car Loan
- The interest rates offered are also the cheapest that vary from 9.20% - 9.25%.
Any punishment does not charge for pre closure of a car loan. - State Bank of India provides car loans to each sector of the population self-employed professionals midsize professionals, partnership companies and agriculturists. SBI Car Loans are provided for new passenger automobiles, utility vehicles and SUVs. With a wide variety of options, the SBI car loan scheme becomes a natural selection for an applicant wanting to purchase a car of his/her option.
- An overdraft facility can be accessible with SBI for debtors.
- The loan allowance granted by SBI for debtors having a net yearly income of around Rs 10 lakhs is 15 percent of the on-road price of the automobile. For customers with a net income of more than 10 lakhs, the loan margin is around 15% on the purchase price or 20 percent over the on-road cost of the automobile.
- State Bank of India provides among the very best car loans in India with a selection of benefits. Clients opting for a SBI car loan can expect great value and return on their investment.
- The State Bank of India auto loan contains no hassles seeing EMIs and supplies a customer the least expensive EMI payment option potential. The further benefit is that a customer doesn't have to pay any EMI that is whilst availing a SBI car loan complex. Clients have the flexibility of choosing to cover their EMIs at any time.
- Customers might also enjoy the advantage of an SBI life insurance policy cover.
SBI gives the highest repayment tenure with customers choosing spans of around seven years (84 months) for repayment of the vehicle loans.
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