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•CAR LOAN
It is part of middle-class car with cool hideout and home. Only a small percentage of people (including the rich) choose to buy a car outright.
Most of them go the way of car loan All you need is a good enough result and all vehicle documents in place. No need of running to different banks for their lending rates.
Compare interest rates on car loans here, on a single click. Please note here that used car loans are slightly more expensive than new car loans.
The loan amount for your car loan is simply the total cost of the car minus the initial deposit. When you increase the deposit, the amount of your loan decreases.
For a given interest rate, a reduced loan amount reduces the EMI you have to pay each month.
Customer Profile
Salaried
Self Employed professional
Self Employed non professional
Eligibility
New Car
Loan up to 100% of ex-showroom price of the car.
•Pre-Owned Car
Loan up to 80% of the valuation of car with maximum tenure of 60 months
Required Documents
Salaried
–Photographs
–Identity Proof
–Address Proof
–Age Proof
–Bank Statements
–Latest Salary Slip / Form 16
–Employment Stability Proof
Self Employed professional
Photographs
Identity Proof
Address Proof
Age Proof
Bank Statements
Income Tax Returns of 2 previous financial years.
Business Stability proof / Ownership proof
Self Employed Non-Professional
identity Proof
Address Proof
Bank Statements
Signature Verification
income Tax returns of 2 previous financial years along with complete financial/audit report.
Business Stability proof / Ownership proof
Partnership deed and Letter signed by all partners authorising one partner
Companies and Societies: Resolution by Board of Directors (or such managing body) and Memorandum and Articles of Association
FAQ’S
Q. What is EMI? How is it calculated?
A : EMI stands for Equated Monthly Installments. This installment comprises both principal and interest components. Your EMI would be calculated depending on the tenor you choose, to repay your loan. The EMI would be higher if you choose to repay within a shorter period as against a longer-term loan.
Q . What makes of cars does SBI finance?
A. We finance all makes of new cars, and second hand cars not more than five years old. Thus, you are free to choose any vehicle you want to own
Register on below link for car loan
https://docs.google.com/forms/d/1YNFTDapJhEaeiNSb0USnanNkgAqfhaM-hqR2deSTtMM/viewform
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