#1
4th December 2015, 04:40 PM
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Sbhyd Car Loan
I wan t to apply for car loan in State Bank of Hyderabad (SBH) so can you please provide me the details of car loan in this bank?
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#2
4th December 2015, 04:40 PM
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Re: Sbhyd Car Loan
State Bank of Hyderabad (SBH) is a nationalized bank in India, with headquarters at Hyderabad, Telangana. It is one of the five associate banks of State Bank of India and is one of the scheduled banks in India. It was established in 1941 Car Loan- Term Loans are sanctioned by the Bank for purchase of passenger cars, Multi Utility Vehicles (MUVs) Financing of old vehicles on the basis of duplicate Registration Books will not be entertained. Loan Amount : Salaried Persons: 48 times the Net Monthly Income (NMI) Self Employed: 4 times the Net Annual Income (NAI) Margin : 15% of the cost of the vehicle Processing Fee : nil Interest : Floating rate of interest liked to ‘BASE RATE’ Used vehciles less than 3 years – 15.55% p.a Used vehicles 3 to 5 years – 15.80% p.a Eligibility- Individual between the age of 21-65 years of age. Permanent employee of state/ central government, public sector undertaking, private company or a reputed establishment Professionals, self-employed, businessmen who is an income tax assessee or Person engaged in agriculture and allied activities. Net Annual Income `250,000/- and above. Repayment- The loan should be repaid in suitable monthly installments acceptable to the customer in such a manner that the loan is liquidated within a period of 7 years. In case of Car Loans to agriculturists, the periodicity of installments should be decided upon the merits of each case, on a realistic basis, coinciding with harvest of the crop at half yearly/yearly intervals For old vehicles recovery should be such that the loan gets repaid within 7 years from the date of original sale. |
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