INSUBCONTINENT EXCLUSIVE:
The State Bank of India (SBI) offers a
carloan scheme to allow its customers to buy certified pre-owned car, not older than five years
The SBI car loan scheme has a litany of advantages
The first advantage is that no advance equated monthly instalment (EMI) is meant to be paid
Interest on car loan is calculated on daily reducing balance
The car loan scheme offers flexibility of payment of EMIs anytime during the month
There is a low processing fee, which is just 1 per cent of the loan amount
The largest lender of the country also allows you the optional SBI Life cover.The loan can be granted for the purchase of certified pre
owned car, from certified used car dealers, not more than five years old
The loan should be repaid within eight years from the date of the original purchase of the vehicle
lakh.Maximum loan amount will be 2.5 times of net annual income
