|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.|
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: