SBI one of the largest public sector bank in the country provides you with the most successful way to finance for a new car with lowest interest rates, lowest EMI, less documentation and easy payment services. SBI provides the fastest way to approval for a loan without waiting for a long period. SBI has the longest tenure of 84 months and provides loan for purchasing both a new car and old car. There is no advance EMI s another appealing aspect, which means you don't have to pay any EMI before using your car. SBI Car Loan is can be afforded by both salaried and self-employed applicants. Buying a dream car is much easier now as SBI car loans can pay up to 90% of the on-road price of your new car. But the rate of interest for a old car will be higher than a new car.
|Loan Name||Interest Rate||Processing Fee||Loan Amount||Tenure|
|SBI New Car Loan Scheme||9.30% -9.80%, Floating||0||-||7 Years|
For Salaried Individuals
For individuals engaged in Agricultural and Allied Activities
For Non-Salaried/ Businessmen/ Professionals
The applicants should fall under the below-mentioned categories to secure the loan
|Category||Income Criteria||Maximum Loan Amount|
|Should be a regular employee in State/ Central Government or Private Company or Public Sector Undertaking or a reputed establishment||Net Annual Income of the applicant and or the co-applicant if any should be minimum of Rs 2,50,000||48 times of total Net Monthly Income|
|If the applicant is engaged in agricultural and related activities||Net Annual Income of the applicant and or co-applicant together should be minimum of Rs 4,00,000||3 times the Net Annual Income|
|Professionals, self-employed, Businessmen, Partnership/Proprietary firms who are income tax assesses||Net Profit or Gross Taxable Income of Rs 3,00,000 per annum (in this case, the income of the co-applicant can be clubbed together)||4 times the Net Profit or Gross Taxable Income as per the Income Tax Regulations after adding back depreciation amount and repayment of all existing loans.|
|SBI Two Wheeler Loans||9.30%-9.80%, Floating||0||-||3 Years|
For salaried applicants
For self-employed applicants
Get an interest rate of 9.20-9.70
Car Loan Calculator from Sbi lets you swiftly measure your Car Loan EMI.
Sbi assures a comfortable car loan EMI with a low-interest rate and a long repayment period. Calculate the EMI for your loan using EMI Car loan calculator. Sbi Car Loan calculator is simple to operate for a car buyer.
Benefits of Sbi Car Loan EMI Calculator
Sbi Car Loan calculator gives a clear insight into the balance that needs to be paid to the EMI and helps to make informed decisions about the outflow to the car loan each month. This enables to calculate the amount of the loan that can be used and helps to evaluate the own contribution requirements and the cost of the asset. Understanding the EMI is therefore essential for determining approval for the car loan.
How do I use the Car Loan EMI calculator from Sbi?
For any inquiry or issue for Sbi Car Loan, kindly call on the below given 24x7 tollfree numbers
1800 11 2211
1800 425 3800
This numbers can be used from landline and mobile phones across the country.
Sbi Car Loan customers can contact Sbi Customer Care service by sending SMS
Write UNHAPPY and send it to 8008 202020
Or else the applicant can write or reach to the below-given address
Real Estate and Housing Business Unit,
State Bank of India, Corporate Center
Madame Cama Road, State Bank Bhavan, Nariman Point
Mumbai- 400021, Maharashtra
Applicants can raise their complaint through Email
Sbi Quick Facility
MISSED CALL BANKING is a free service provided by Sbi Bank to its customers, in order to access Account Statement, Mini Statement or to raise any complaint. This feature can be used in Sbi Quick App which is available in Android, IOS, Windows and Blackberry Phones. This app doesn't require any steady Internet connection, applicants can use this facility over SMS or Missed Call.
Q: What are the benefits that SBI provides for Women car loan borrowers?
A: SBI provides a lower interest rate on the car loan for women borrowers. The borrower can get 0.05% lesser rates while comparing with regular customers.
Q: What are the salient features of SBI car loan?
A: SBI offers the following features to the car loan borrowers:
Q: Is there any special benefit on “On-road price”?
A: Yes, On-road price includes Registration, Insurance and Extended warranty/Annual maintenance contract/Total service package/Cost of accessories
Q: How can a customer take over the car loan from another bank to SBI?
A: By submitting the following documents a customer can take over the car loan from another bank to SBI:
Q: How many types of car loans do SBI provides to the borrowers?
A: Based on the borrower's income SBI provides different types of Car Loans. They are listed below: