State Bank of India

State Bank of India

Overview

Move ahead in life with SBI Car Loans with more than 6000 Branches offering Car Loans. If you have been putting off purchasing that Car, SBI invites you to an attractive Car Loan Scheme with low interest rates, free accidental insurance, easy repayment options, optional SBI life cover, total transparency. Loan finance will include vehicle registration charges, insurance, one-time road tax and accessories worth Rs.25000/-.

Loan Feature

Loan Amount 85% to 90% of on-road price
Interest Rate 10.75% Per Annum
Tenure Up to 84 Months
Pre Payment Charges No pre-payment charges
Service Charges

Processing Charges: Rs. 500/- per Car Loan Application

Eligibility Criteria : Car Loan

  Salaried Self
Age 21-65 Years 21-65 Years
Income Net Annual Income Rs. 400,000/- and above Net Annual Income Rs. 600,000/- and above
Job Experience 2 Years 3 Years
Residence Proof Valid Residence proof Valid Residence proof

Docs Required : Car Loan

  Salaried Self
ID Proof Copy of passport /Voters ID card/PAN card Copy of passport /Voters ID card/PAN card
Address Proof Passport/Voters ID/Driving License/Latest Electricity bill/Latest Landline Telephone Bill/Any other Valid Address proof Passport/Voters ID/Driving License/Latest Electricity bill/Latest Landline Telephone Bill/Any other Valid Address proof
DOB Proof Information not available Information Not Available
Financial Docs

Salaried Individual:

  • 2 passport size photographs of borrower(s)
  • Signature identification from bankers of borrower(s)
  • Latest Salary Slip for 3 months
  • Bank Statement for last 6 months
  • I.T. Returns/Form 16 for last 2 years

Self Employed Individual:

  • 2 passport size photographs of borrower(s)
  • I.T. Returns/Form 16 for last 3 years for professional/ self-employed/businessmen duly accepted by the ITO wherever applicable to be submitted.
  • Proof of official address for non-salaried individuals

Other Charges : Car Loan

N/A

Products offered by State Bank of India

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