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State Bank of India (SBI) Car Loans

Bank
Interest Rate
Processing Fee
Loan Amount
Tenure
SBI New Car Loan
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₹ Up to 10 Lacs and Above

Up to 10 Lacs and Above

1 - 7 Years

1 - 7 Years

Description:

How the interest is calculated on SBI Car Loan?

The interest on the availed loan will be calculated on the daily reducing balance.

 

Do I need a co-applicant to avail SBI Car Loan?

You must have a co-applicant if your income doesn’t meet the income criteria for SBI Car Loan. A co-applicant can be a spouse or a family member.

 

Is there any concession provided in interest rate for the female customers?

Yes, SBI offers a 0.05% concession for the female customers.

 

What are the applicable processing charges on SBI Car Loan?

A processing charge of Rs. 1,000 is applicable for loan amount less than or equal to Rs.6 lac. and Rs. 1,500 will be charged for loan amount exceeding Rs. 6 lac.