SBI Car Loan | SBI Car Loan Interest Rate | Complete Details - BankBazaar

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SBI Car Loan

SBI offers car loans to buy new car, jeep, Multi Utility Vehicle(MUV) or SUV of any make or model. Old vehicles must not be more than 5 years old. In some cases, loans are offered for transfer of existing loan from other Bank/Financial institution

Features & Benefits of SBI Car Loan

Finance for one-time road tax, registration fee, insurance premium and accessories
SBI car loans are available for both new and used cars
Applicant must visit an SBI branch in order to apply for an SBI car loan
No advance EMIs

Eligibility conditions for SBI Car Loan

Individual must be 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 self-employed individual who is an income tax assessee
Net Annual Income Rs. 100,000/- and above

Details of SBI Car Loan. Use our calculator to compare offers from multiple banks
Interest Rate (Daily reducing balance)	1st year : 8% fixed 2nd and 3rd year : 10% fixed 4th and 5th year : 11.25% floating 6th and 7th year : 11.5% floating
Processing Fees	0.5% of loan amount, with a maximum of Rs. 10,000 25% of processing fee will not be returned if application is rejected after pre-sanction survey
Loan Tenure	Up to 7 years for salaried & 5 years for self-employed
Pre-closure Charges	2 % of pre-closed amount
Loan Amount	85% of car's price or 2.5 times net annual income, whichever is lower
Guarantor Requirement	Guarantor is required
Documents	Statement of Bank account of the borrower for last 12 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

Get the lowest car loan interest rate in 2 minutes

Recently made loan offers

Rs.6.55 lakhs for Rs.16,770 EMI

9.50% Rate 36 Tenure

Total Interest PayableRs. 149,970

Total Tax + FeesRs. 16,375

Total Interest + FeesRs. 166,345

Submitted 2 minutes ago

Rs.5.90 lakhs for Rs.19,176 EMI

9.50% Rate 36 Tenure

Total Interest PayableRs. 100,352

Total Tax + FeesRs. 11,800

Total Interest + FeesRs. 112,152

Submitted 9 minutes ago

Rs.6.00 lakhs for Rs.19,786 EMI

9.50% Rate 36 Tenure

Total Interest PayableRs. 112,282

Total Tax + FeesRs. 15,000

Total Interest + FeesRs. 127,282

Submitted 31 minutes ago

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    <option value="5">May</option>
    <option value="6">Jun</option>
    <option value="7">Jul</option>
    <option value="8">Aug</option>
    <option value="9">Sep</option>
    <option value="10">Oct</option>
    <option value="11">Nov</option>
    <option value="12">Dec</option>

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    <option value=""
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    <option value="2010">2010</option>
    <option value="2009">2009</option>
    <option value="2008">2008</option>
    <option value="2007">2007</option>
    <option value="2006">2006</option>
    <option value="2005">2005</option>
    <option value="2004">2004</option>
    <option value="2003">2003</option>
    <option value="2002">2002</option>
    <option value="2001">2001</option>
    <option value="2000">2000</option>
    <option value="1999">1999</option>
    <option value="1998">1998</option>
    <option value="1997">1997</option>
    <option value="1996">1996</option>
    <option value="1995">1995</option>
    <option value="1994">1994</option>
    <option value="1993">1993</option>
    <option value="1992">1992</option>
    <option value="1991">1991</option>

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        </td>
        <td>
            <span style="margin-right:7px;">EMI</span>
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            <span class="addRel"> | <a class="bankrel brel" href="#" onclick="add('{1}');">Add another</a></span></span>
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