SBI car loan is offered at an interest rate of 7.75 per centState Bank of India (SBI) offers cars loan at an interest rate of 7.75 per cent per annum along with several other benefits such as lowest EMI, minimal paperwork, and quick disbursement.
The country's largest lenderoffers customized car loanssuch as certified pre-owned car loan, regular car loan, SBI loyalty car loan for existing home loan borrowers, green car loan for electric cars, among others.The state-run bank's car loan scheme also comes with arepayment tenure of seven years, zero processing charges, and financing on on-road price'.
The on-road price includes the registration and insurance, and financing is up to 90 per centof the 'on-road price', according to a statement shared by SBI today.For car loan scheme, the interest is calculated on a daily reducing balance.
The bank alsoallows purchase of new passenger cars, multi utility vehicles (MUVs), and SUVs.
Customers will get aspecial interest concession of 25 bps on applying for the car loan through YONO - at7.50 per centper annum.
State Bank of India's auto loan market share is 31.11 per cent.
The car loan tenure is three-seven years.How to apply for SBI CarLoan Online?To apply for the car loan online, customers can access the link: https://onlineapply.sbi.co.in/personal-banking/auto-loan?se=Product-cp=SBICOIN-ag=General-Fill in the required details in the designated fields-Check eligibility and get the loan quotation.How to apply for SBI CarLoan on SBI YONO?Login to the YONO accountOn the home webpage, click on the menu (-the three marked lines) on the top extremeClick on loans and select car loanConduct theeligibility checkRequest for the loan after entering detailsFind the eligible amountFill theapplication form andupload the necessary documentsClick on 'Submit'On Thursday, September 30, shares of State Bank of India were last trading 1.49 per cent lower at Rs 453.25 apiece on the BSE.