INSUBCONTINENT EXCLUSIVE:
The State Bank of India (SBI) car loan
scheme caters to the customers who have already taken car loan from SBI
The finance can be made 100% on the on-road price of vehicle being financed
The persons in the age group of 21-65 are eligible
The repayment period for the SBI car loan is maximum of 7 years
Net Annual Income of applicant and/or co-applicant if any, together should be Rs
01.03.2018 (1 year MCLR: 8.15%)i) SBI Car Loan, ii) NRI Car Loan, iii) Combo Loan Scheme, iv) Assured Car Loan Scheme, v) SME Retail Car
Loan and Combo Loan SchemeFor Men: 1.15% above 1 year MCLR i.e
Housing Loan will be extended to cover the Car Loan for the loan amount above Rs 5 Lacsiii) In case of car loans upto Rs 5 Lacs, a letter
from the borrower authorizing the Bank to exercise lien on title deeds and to retain the title deeds till the car loan is completely
discharged/repaid with interest and other charges.The eligibility of car loans is ) Regular employees of State/Central Govt., Public Sector
Undertakings, corporations, private sector companies, and reputed establishments .ii) Professionals, Self-employed, Businessmen,
proprietary/partnership firms and others who are income tax assesses can avail of the car loan facilityiii) Persons engaged in agriculture
and allied activities can also avail the car loan
Income Tax return is not required in case of agriculturists.
