State Bank of India Used Car Loan

Can you please provide the detailed information regarding the State Bank Of India Car Loan Scheme for Used Car?

[Quick Sam]

State Bank Of India offers the best car loan scheme of used car, not more than 5 years old.

SBI offers :

Longest repayment tenure (7 years);

No Advance EMI;

Lowest interest rates ;

Lowest EMI;

LTV 85% of On Road Price of car (includes registration, insurance and cost of accessories worth Rs 25000),

Flexibility of payment of EMI anytime during the month;

Low pre-payment penalty, only 2%;

Low processing fee (only 0.51% of loan amount);

Interest Calculated on Daily Reducing Balance;

Optional SBI Life cover;

Eligibility

To avail SBI Car Loan, applicants must be:

Individual between age of 21-65 years of age.

A Permanent employee of Public Sector Undertaking,
or
Person engaged in Agricultural and allied activities.
Salaried:

a) a) Net Annual Income of applicant and/or co-applicant if any, together must be Rs. 3,00,000/-

b) Agriculturist:

Net Annual income of applicant and/or co applicant together to be Rs. 4,00,000/-

Loan Amount

Maximum Loan amount will be 2.5 times of net annual income.

Documents Required

Statement of Bank account of the borrower for last 6 months.

A copy of passport /voters ID card/PAN card.

2 passport size photographs of borrower(s).

Signature identification from bankers of borrower(s).

Proof of residence.

Latest salary-slip showing all deductions

Proof of official address for non-salaried individuals
Margin

15% of the on the road price (which includes insurance, vehicle registration charges, one-time road tax and accessories).

Hii guys ,My want to apply for Car Loan from State Bank of India , So can you please tell me information for SBI Car Loan Scheme Interest rate ?

[Shaleen]

Friend , as per your Demand Here I wan to tell you information about SBI Car Loan Scheme Interest rate :

SBI Car Loan Scheme Interest rate :

For Men :

0.55% above base rate i.e. 9.85% p.a.

For Women :

0.50% above base rate i.e. 9.80% p.a.


NRI Car Loans: 9.80% – 9.85% p.a

For Used Cars: 16.90% – 17.15%

For Certified Pre-owned car loan : 15.65% – 16.15%

For SBI Nano Youth Car Loan Scheme : 10.05% – 10.10%

For SBI Loyalty Car Loan Scheme : 9.55% – 9.60%


SBI offers :

No Advance EMI;
Longest repayment tenure (7 years);
Lowest interest rates ;
Lowest EMI;
LTV 85% of On Road Price of car (includes registration, insurance and cost of accessories worth Rs 25000),
Interest Calculated on Daily Reducing Balance;
Flexibility of payment of EMI anytime during the month;
Low pre-payment penalty, only 2%;
Low processing fee (only 0.51% of loan amount);
Optional SBI Life cover;

Loan Amount :

Maximum Loan amount will be 2.5 times of net annual income.

Eligibility :

• Individual between the age of 21-65 years of age.

• A Permanent employee of State / Central Government, Public Sector Undertaking, Private company or a reputed establishment or

• A Professionals or self-employed individual who is an income tax assesses or
• Person engaged in Agricultural and allied activities.


Documents Required :

• Statement of Bank account of the borrower for last 6 months .

• 2 passport size photographs of borrower(s) .

• Signature identification from bankers of borrower(s) .

• A copy of passport /voters ID card/PAN card .

• Proof of residence .

• Latest salary-slip showing all deductions

• I.T. Returns/Form 16: 2 years for salaried employees and 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


Margin :

15% of the on the road price (which includes vehicle registration charges, insurance, one-time road tax and accessories).