SBI Car Loan Calculator

  • Eligibility, Schemes, Interest Rates Jan 2017, EMI - New Car, Used Car

Features and Eligibility SBI New Car Loan Scheme SBI Used Car Loan Scheme
Interest Rates 9.60% Floating 13.05% Floating
Maximum Loan Amount Eligibility 85.00% of on-road price 85.00% of on-road price
Maximum Loan Tenure (years) 7 years 7 years
Lowest EMI per Rs. One Lakh Loan Amount (Rs.) Rs. 1640 Rs. 1640
Processing Fee 0.51% Min Rs. 1020 Max Rs. 10200 0.51% Min Rs. 1020 Max Rs. 10200
Prepayment Charges Nil 2%
Interest Calculation Monthly reducing balance Monthly reducing balance
Age (years) Between 21 years and 65 years Between 21 years and 65 years
Minimum Net Annual Income (Rs. lakh)
--Salaried 3.0 3.0
--Self employed professionals 4.0 4.0
--Self employed businessmen 4.0 4.0
Apply Car Loan Online @9.35%*
 Salaried   Self Employed - Professional   Self Employed - Business 

I authorize MyLoanCare, its partners to contact me. This over rides my number being in NDNC registry
  • Car loan EMI calculation varies from bank to bank depending upon the method of calculation.
  • The standard convention should be to use the EMI in arrears method on reducing balance basis – whereby you pay interest on the car loan amount outstanding on a reducing basis at or after the end of the month.
  • Simply key in the loan amount, rate of interest and car loan tenure here and check the EMI amount using the car loan EMI calculator here. In case the EMI amount displayed is different from the one advised to you by the agent, you must check the calculation basis with your car loan agent.

  • New Car Loan Schemes of All Banks

  • Used Car Loan Schemes of All Banks

*My Finance Care Advisors Pvt. Ltd., or is a bank neutral multi bank platform that helps borrowers and bank customers compare loans and deposits of all banks in India at one place. Information carried at this website is based on perusal of public sources and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not assure as to the correctness of information carried at the website. Lenders/ banks/ other parties may contact us at to provide corrections or updates. We may act as and/ or be associated with channel partners of banks and other sellers of financial products.