| SBI car loans are available at the bank’s personal banking branches and more than 6000 other branches. Car loan is available for new car, jeep or Multi Utility Vehicles (MUVs); used car or jeep(not more than 5 years old) and take over of existing loan from other banks and financial institutions. |
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Highlights
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Loan Amount There is no upper limit for the amount of a car loan. A maximum loan amount of 2.5 times the net annual income will be sanctioned. If married, spouse's income could also be considered provided the spouse guarantees the loan. The loan amount includes finance for one-time road tax, registration and insurance! There is no ceiling on the loan amount for new cars, while the loan amount for used car is subject to a maximum limit of Rs. 15 lacs.
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Margin New / Used vehicles : 15% of the on the road price. |
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Repayment Maximum repayment period for new vehicles is 84 months Maximum repayment period for used vehicles is up to 84 months from the date of original purchase of the vehicle.
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Documents Required You would need to submit the following documents along with the completed application form if you are an existing SBI account holder:
If you are not an account holder with SBI you would also need to furnish documents that establish your identity and give proof of residence. |
| Sbi Loan Products:- |
| • Sbi Home Loan |
| • Sbi Personal Loan |
| • Sbi Credit Card |
| Indian NRI |
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