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.