SBI Car Loan
- Maximum Loan Amount
- Rs. No ceiling on loan amount
- Minimum Loan Amount
- Rs. Rs 1 Lakh
- Loan To Value Ratio
- 85%
- Interest Rate
- 11.25 %
- Interest Type
- Floating
- Rate Type
- Monthly reducing
- Processing Fees
- 0.50% of the loan amount
- Prepayment Charges
- 2% of prepaid amount
- Repayment Years (Max)
- 7 year(s)
- Repayment Years (Min)
- 1 year(s)
Features and Benefits of SBI Car Loan
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Low interest rates.
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Repayment period of up to 84 months.
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No administrative charges.
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Expenses for one-time road tax, registration fee, insurance premium and accessories included in finance.
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No need to pay any advance EMI.
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Interest is levied on daily reducing balance method.
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Loan can be availed for new or old car, jeep or Multi Utility Vehicles.
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Quick disbursement of the loan amount
Documents Required for SBI Car Loan
Salaried Individuals
- Application form with recent photograph
- 2 passport size photographs
- Latest salary slip
- Form 16/IT returns of last 2 years
- Bank statement for last 12 months
- Proof of Identity (any one): Passport/Driving licence /Photo credit card/Employee licence/Voter's ID/PAN card
- Proof of Residence (any one): Driving licence/Any utility bill/Govt. or authority bill
Self Employed
- Application form with recent photograph
- 2 passport size photographs
- Form 16/IT returns of last 3 years
- Bank statement for last 12 months
- Proof of Identity (any one): Passport/Driving licence /Photo credit card/Employee licence/Voter's ID/PAN card
- Proof of Residence (any one): Driving licence/Any utility bill/Govt. or authority bill
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Proof of official address
Expert Review of SBI Car Loan
User Reviews
- Product Rating -
Average user rating
- Member's Recomendation
SBI Car loan is highly recommended
By: Sameer, Noida | 10 May 2010
We highly recommened this bank as they are very clear for their product and their staff does not tell half truth. They guide you properly and hence you dont face problem in the long run. ...[Read]
- Product Rating -
Average user rating
- Member's Recomendation
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By: Sanjay, Bhopal | 06 May 2010
SBI have very rude staff. They are not at all humble. People go to them because they have wide presence else with this attitude they cant pull it of....[Read]
- Product Rating -
Average user rating
- Member's Recomendation
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SBI CAR LOAN - infinite time required for processing after submitting all the required docs.
By: Avani, India | 14 June 2010
I have applied for car loan on 12th may 2010 and have not received any draft/cheque from the bank. I have raised complaints through the website written several mails to DGM , AGM but to my surprise...[Read]
- Product Rating -
Average user rating
- Member's Recomendation
-
SBI CAR LOAN - infinite time required for processing after submitting all the required docs.
By: Avani, India | 14 June 2010
The staff has no courtesy and nor any concern for the customers. You apply for loan and they will take months. No matter even if the DGM , AGM ask for status no one is worried. I have applied o...[Read]
- Product Rating -
Average user rating
- Member's Recomendation
-
SBI CAR LOAN - infinite time required for processing after submitting all the required docs.
By: Avani, India | 14 June 2010
The staff has no courtesy and nor any concern for the customers. You apply for loan and they will take months. No matter even if the DGM , AGM ask for status no one is worried. I have applied o...[Read]
- Product Rating -
Average user rating
- Member's Recomendation
SBI CAR LOAN - infinite time required for processing after submitting all the required docs.
By: Avani, India | 14 June 2010
I applied for car loan of Rs. 3.28Lakh on 12th May 2010. I was told that processing time is 48-72 hours. On 15th May 2010 I was told that two documents are missing (which were submitted in a day)an...[Read]
- Product Rating -
Average user rating
- Member's Recomendation
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By: sksharma, India | 25 March 2011
TRANSPARENT DEALINGS,LOANS ARE GIVEN TO PERSONS WHO CAN AFFORD TO REPAY, NOT EVERY TOM DICK AND HARRY WHO FEEL STAFF RUDE WHEN THEY ARE GIVEN EXPERT ADVICE,TO AVOID HUMILIATION TO them AFTERWORDS WHEN...[Read]
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