SBI Bank Car Loan ✔ Interest Rates October 2018 ✔ Eligibility ✔ Documentation ✔ Loan Limit ✔ Processing Fee ✔ Age Limit ✔ Prepayment Option ✔ Prepayment Charges ✔ Repayment Period / Tenure ✔ Customer Care ✔ Margin. Apply SBI Bank Car Loan instantly through sbiloanrates.com
Purpose: For purchase of new passenger cars, Multi Utility Vehicles (MUVs) and SUVs. And Certified Pre-owned Car, not more than 5 years old.
Table of Contents
SBI Bank Car Loan – Interest Rates | Loan Limit | Eligibility Criteria | Processing Fee | Tenure | Customer Care
|New Car Loan|
|Processing Charges||0.50% + ST (Minimum Rs.950 + ST To Maximum Rs.9100 + ST)|
|Foreclosure Charges||No Foreclosure Charges or Pre-Payment Penalty|
|Repayment Period||Up to 7 Years|
|Age Criteria||Minimum 21-Years to Maximum 65-Years|
|Overdraft||Overdraft facility available.|
|Security||As per Bank’s extant instructions.|
|Certified Pre-owned Car|
|Tenure||Up to 5-Years (Loan should be repaid within 8 years from the date of the original purchase)|
|Age Criteria||Minimum 21-Years To Maximum 65-Years|
|Annual Income||Rs. 2,00,000/ p.a. (Income of applicant and/or co-applicant can be clubbed)|
|Loan Amount||2.5 times of net annual income|
|Margin||20% of Invoice or Insured’s Declared Value (IDV)|
SBI Bank Car Loan Documentation
- Photographs: 2 passport size photographs
- Identity Proof: Passport/PAN Card/Driving License/Voters ID card/ etc. (Copy of any one)
- Address Proof: Passport/Ration card/Driving License/Voters ID card/Telephone Bill/ Electricity bill/Life Insurance policy (Copy of any one)
- Bank StatementLast 6 months Bank Statement
- Documents For Salaried: Latest Salary Slip/ Form 16 /I.T. Returns (For Last 2 Years)
- Documents For Non-Salaried/ Professional/Businessmen: I.T. Returns/ Form 16 for the last 2 years/ Audited Balance sheet/ P&L statement for 2 years/ Shop & establishment act certificate / sales tax certificate / SSI registered certificate / copy of partnership.
- Documents For Agriculturist: Khasra/Chitta Adangal/Patta/Khatoni/Documentary proof of running of the activities to be provided.
How to Apply for SBI Bank Car Loan
Applying for a SBI Bank online Car Loan is simple. It just takes several steps to get an instant Car Loan approval!
Step 1: Click here to go to our online form. Enter-in all required details and submit the form at sbiloanrates.com
Step 2: Get an instant quotes on loan amount & eligibility. Select your required loan amount and Repayment Period.
Step 3: You will get response from our representative and get details about Car Loan.