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SBI Car Loan

Last Updated 17th Aug 2017

SBI Car Loans

Rate of Interest 9.60% - 9.65%
LTV 85.00% of of on-road price
Lowest EMI per lakh Rs. 1,640 per lakh
Maximum Loan Tenure 7 years
Processing Fee 0.51%
Apply Car Loan @ 9.25%*
Rs.
Rs.
+91

SBI Car Loan Details

SBI Car Loan Document List
Documents Salaried Self Employed
Signed Application Form Yes Yes
Passport Size Photo Yes Yes
Income Tax PAN Yes Yes
Quotation of Car Yes Yes
Identity Proof Passport/ Driving License/ Voter ID/ PAN Passport/ Driving License/ Voter ID/ PAN
Address Proof Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
Income Proof Latest pay slip, Form 16, 3 months bank statement showing salary credit and any EMI debit 6 months bank statement, ITR of last 2 years
Business Proof VAT/ service tax registration, incorporation details in case of companies, partnership deed, business address proof

SBI Car Loan Apply

SBI gives the facility of Car loan to the people who want to fulfill their dream of having their own car. There are some features and benefits of taking Car loan from SBI:

  • Low interest rates
  • Nil prepayment charges
  • No advance EMI

Car Loan SBI

SBI Car Loan Calculator

Interest Rate Calculator – This helps you in identifying the interest rate charged on applied SBI loan amount for effective tenure.

Interest rate on SBI car loan depends upon

  • Type of car - SBI rate of interest varies from car to car. High value car leads to low interest car loan
  • Salary - SBI interest rate varies with your net monthly income. Higher income leads to low interest rate
  • Company where you work - Your Company listed in SBI can avail you car loan with best interest rates.

Eligibility Calculator – This calculator calculates your Car loan eligibility depending upon your value of the car and your repayment capacity. Apply for only that much loan amount, what you are eligible for. You can also calculate your car loan eligibility online and based on that apply for loan. Eligibility depends on:

  • NTH – Higher monthly income increases your eligibility to get SBI Car loan. SBI requires a minimum income of at least Rs. to avail you loan.
  • Repayment Capacity – Your repayment capacity is tracked based upon the previous loan record. Existing obligations can reduce your chances of getting Car loan from SBI. So, complete your existing obligations first and then apply for loan.
  • SBI calculates your car loan eligibility based on

  • FOIR (Fixed Obligation Income Ratio) – Your SBI loan amount eligibility is calculated on the basis of your maximum EMI or monthly installments in respect to your income.

EMI Calculator – Car Loan EMI calculator helps you in calculating your monthly EMI based on the loan amount, interest rate and tenure you have applied for.

  • Loan amount – You should apply for only eligible loan amount from SBI. EMI will be high based on your loan amount.
  • Loan Tenure – High tenure of car loan leads to low amount of EMI.
  • Interest Rate – SBI car loan EMI will be low if your rate of interest is less. Interest rates are higher for second hand car and thus leads to higher EMI.

Topup, Balance Transfer, Preclosure

Car Loan Topup of SBI

A top up loan is an additional finance that can be availed on top of your existing loan with the same bank in order to meet your Car or professional needs. You can avail car loan top-up from SBI, subject to your eligibility

Car Loan Preclosure of SBI

These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. Prepayment on car loan is

Car Loan Balance Transfer of SBI

SBI offers Car loan balance transfer from another bank. This is subject to your meeting other eligibility criteria of SBI.

FAQs on Car Loan from SBI

What is the maximum loan to value ratio of SBI car loan?

SBI finances 85.00% of of on-road price of the dream car you want to buy.

How much fee is charged by SBI for Car loan?

Processing fee charged on SBI Car loan is 0.51% with applicable service tax.

Is SBI BT a better option?

SBI offers minimum rate of 9.60% with lowest EMI of Rs. 1,640 per lakh. If you are paying higher EMI than SBI, then balance transfer is the right option.

Can I check my loan account statement online?

You can login into your SBI online net banking account to get your loan details, track your loan history and make the payment online.

Easy comparison of SBI home loan with other banks

SBI Car Loan Customer Care Number, Email, Application Status, Branches

City Customer Care Number
Agra 979-350-2211
Ahmedabad 972-434-2211
Ambala 999-637-2211
Anand 972-434-2211
Aurangabad 973-001-2211
Bangalore 973-193-2211
Bhilai 989-328-2211
Bhilwara 979-933-2211
Bhiwadi 973-001-2211
Bhopal 989-328-2211
Bhubaneswar Cuttack 977-745-2211
Bikaner 979-933-2211
Chandigarh 977-916-2211
Chennai 979-094-2211
Cochin 999-539-2211
Coimbatore 979-191-2211
Dehradun 976-020-2211
Delhi 995-880-2211
Durg 989-328-2211
Faridabad 995-880-2211
Gandhinagar 972-434-2211
Ghaziabad 995-880-2211
Goa 973-001-2211
Greater Noida 995-880-2211
Gurgaon 995-880-2211
Guwahati 995-705-2211
Gwalior 989-328-2211
Hyderabad 995-919-2211
Indore 989-328-2211
Jabalpur 989-328-2211
Jaipur 979-933-2211
Jalandhar 977-916-2211
Jodhpur 979-933-2211
Kanpur 979-350-2211
Karnal 999-637-2211
Kolhapur 973-001-2211
Kolkata 974-842-2211
Kota 979-933-2211
Kozhikode 999-539-2211
Lucknow 979-350-2211
Ludhiana 977-916-2211
Madurai 979-191-2211
Meerut 976-020-2211
Mehsana 972-434-2211
Mohali Sas Nagar 977-916-2211
Mumbai 998-755-2211
Mussoorie 976-020-2211
Nagpur 973-001-2211
Nashik 973-001-2211
Noida 995-880-2211
Noida Extn 995-880-2211
Panipat 999-637-2211
Patna 995-595-2211
Pondicherry 979-191-2211
Pune 973-001-2211
Raipur 989-328-2211
Rajkot 972-434-2211
Ranchi 995-595-2211
Rohtak 999-637-2211
Roorkee 976-020-2211
Salem 979-191-2211
Shimla 980-509-2211
Sonepat 999-637-2211
Surat 972-434-2211
Trichy 979-191-2211
Udaipur 979-933-2211
Vadodara 972-434-2211
Varanasi 979-350-2211
Vijaywada 995-919-2211
Vizag 995-919-2211
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*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. MyLoanCare is an independent professional service provider and is not related to the government or government bodies or any regulator or any credit information bureau in any way. Information carried at this website is not and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not undertake any liability with respect to the correctness of the content, information and calculations. Information is subject to change without notice. By submitting your query or using any tools or calculators, you authorize MyLoanCare to share your information with lender(s), consent for such lender(s) to access your credit information report and contact you regarding your query overriding your number being in National Do Not Call Registry. This is a free service and no charges are payable by the borrower to MyLoanCare. The Company may receive remuneration from lenders for services provided to them.