State Bank Of India Auto Loan

I need some information about New Car/ Auto Loan Scheme of State Bank of India, so that I can go through it?

[pawan]

As per your demand I will let you know more about State Bank of India, New Car/ Auto Loan Scheme so that you can have idea.

Features
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;
We also reimburse finance for the cars purchased out of your own funds at rate of interest applicable to New Car Financing:
Car should not be more than 3 month old
Optional SBI Life Insurance cover available;
Overdraft facility available.

Eligibility
To avail an SBI Car Loan, you should be an individual aged 21 to 65 years, belonging to one of the following 3 categories:

Category 1
Regular employee of State / Central Government, Public Sector Undertaking, Private Company or a reputed establishment.

Income Criteria Max. Loan Amount
Net Annual Income of applicant and/or co-applicant if any, together should be a minimum of Rs. 2,50,000/- 48 times of the Net Monthly Income

Category 2
Person engaged in agricultural and allied activities.

Income Criteria Max. Loan Amount
Net Annual income of applicant and/or co applicant together should be a minimum of Rs. 4,00,000/- 3 times of Net Annual

Category 3
Professionals, self-employed, businessmen, proprietary/partnership firms who are income tax assesses.

Income Criteria Max. Loan Amount
Net Profit or Gross Taxable income of Rs. 4,00,000/- p.a.
(income of co-applicant can be clubbed together) 4 times Net Profit or Gross Taxable income as per ITR after adding back depreciation and repayment of all existing loans


New Car/ Auto loan scheme




Address:-
State Bank of India
18 19, Devdas Kamlleg Block, Synergy Building, Bandra Kurla Complex-Bandra East, Mumbai - 400051, Behind National Stock Exchange

Phone:-
1800425-3800