CAR Loan Interest Rate in State Bank of India

For buying a new car my brother wants to take Car Loan from State Bank of India, so tell me what is the State Bank of India Car loan interest rate & eligibility criteria???

[Shaleen]

Here are details about State Bank of India Car Loan scheme details:

Car loan:

Eligibility
Age limit;
You should be an individual aged 21 to 65 years

Financing
Net Annual Income upto Rs. 10 lac
85% of 'On-road Price'

Net Annual Income more than Rs. 10 lac
85% of 'On-road Price'

Interest rates:

For all tenures
For Term Loan and Overdraft:
0.45% above Base Rate, i.e. 10.45% p.a. ( for MEN)
0.40% above Base Rate, i.e. 10.40% p.a. ( for WOMEN)

Documents Required
Statement of bank account for last 6 months.
2 passport size photographs
Proof of Identity
Address Proof
Income Proof: Latest Salary Slip, Form 16
I.T. Returns or Form 16 for the last 2 years

Hello sir I want to take Car Loan from State Bank of India so please provide me the interest rate details of this bank for this type of loan.

[Raman Vij]

SBI offers the best deal for financing new car. It offers lowest interest rates, lowest EMI, minimal paperwork and quick disbursement.

Salient features of SBI Loan

Lowest Interest Rates & EMI;
Longest Repayment Tenure (7 years);
Financing on ‘On-Road price':
On-Road price includes Registration, Insurance and Extended Warranty/ Total Service Package/ Annual Maintenance Contract/ Cost of Accessories
Interest calculated on Daily Reducing Balance;
No Pre-Payment Penalty or Foreclosure Charges;
No Advance EMI;

Purpose

For purchase of new passenger cars, Multi Utility Vehicles (MUVs) and SUVs

Eligibility

To avail an SBI Car Loan, you should be an individual aged 21 to 65 years depends on your income and max. Loan amount

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