5/2/2011 STATE BANK OF INDIA :: INDIA's LAR…

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HOME » SBI ADVANTAGE CAR LOAN SCHEME FOR LESS
PERSONAL BANKING » THAN RS. 5 LACS Purpose
PERSONAL FINANC E » [Print Page]
C AR LOAN » Loan Amount
SBI ADVANTAGE Documents
CAR LOAN SCHEME Required
FOR LESS THAN RS.
5 LACS Repayment
A DVA NTA GE CA R Interest
LOA N FOR RS. 5 LA CS
A ND A BOVE SBI provide the best car loan scheme for you to take a loan Security
CERTIFIED PRE- below Rs 5 lacs.
OWNED CA R LOA N RELA TED LINKS ›
CA R LOA N SCHEME
FOR USED CA R Salient features: INTER EST R ATES

2-WHEELER LOA N EMI C alculator

SBI EZEE CA R LOA N – Maturity Value

NA NO SUBVENTION
No Advance EMI; C alculator
SCHEME (FO R MS) PER SO NAL
Longest repayment tenure (7 years); BANKING
MOST IMPORTA NT
TERMS A ND (FAQ ) C AR LO AN
CODITIONS Lowest interest rates ( there are further concessions
for Corporate Salary Package accounts) ; LIST O F P BB
BR ANC HES
Lowest EMI;

LTV 85% of 'On Road Price' of car (includes

registration, insuranc e and cost of accessories worth
Rs 25000), 90% in case of Corporate Salary Package
accounts;

Interest Calculated on Daily Reducing Balance;

Flexibility of payment of EMI anytime during the month ;

No pre-payment penalty;

Low processing fee (only 0.50% of loan amount); for

Corporate Salary Pac kage accounts, only Rs.500 per
application.

Free Accidental insurance ; Optional SBI Life cover;

Overdraft facility available.

Purpose

For purchase of new passenger cars, Multi Utility Vehicles

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5/2/2011 STATE
For purchase of BANK OF INDIA ::cars,
new passenger INDIA's LAR…
Multi Utility Vehicles
(MUVs) and SUVs with minimum loan component of Rs. 5.0
lakh and above.

Eligibility

To avail an SBI Car Loan, you should be :

Individual between the age of 21-65 years of age.

A Permanent employee of State / Central Government,
Public Sector Undertaking, Private company or a
reputed establishment
Professionals, self-employed,businessmen who is an
income tax assessee or
Person engaged in agriculture and allied activities.
Net Annual Income Rs. 100,000/- and above.

Salient Features

Loan Amount

Maximum Loan amount will be 2.5 times of net annual income.

Spouse’s income could also be considered provided the
spouse becomes a co-borrower in the loan.

Loan amount below Rs. 5 lac s will cover under the scheme

Documents Required

You would need to submit the following documents along with

the c ompleted application form:

1. Statement of Bank ac count of the borrower for last 12

months.
2. 2 passport size photographs of borrower(s).
3. Signature identification from bankers of borrower(s).
4. A copy of passport /voters ID card/PAN card.
5. Proof of residence.
6. Latest salary-slip showing all deductions
7. I.T. Returns/Form 16: 2 years for salaried employees
and 3 years for professional/self-employed/businessmen
duly accepted by the ITO wherever applicable to be
submitted.
8. Proof of official address for non-salaried individuals.

Margin

15% of the on the road price (which includes vehicle

registration charges, insurance, one-time road tax and
accessories).

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5/2/2011 STATE BANK OF INDIA :: INDIA's LAR…
Repayment

You c an enjoy the longest repayment period in the industry

with us as long as 84 months.

Interest

Click here to view the interest rates.

Processing Fee

Only 0.50% of Loan amount to be paid up front as processing

fee, with minimum: Rs. 500/- and maximum Rs. 10,000
25% of Processing fee will be retained if application is
rejected after pre-sanction survey.

Security

As per Bank's extant instructions.

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