9878981166
Dialabank

SBI Car Loan

I have read the Privacy Policy & Agree to Terms & Conditions and authorize Dialabank & its partner institutions to Call or SMS me with reference to my application.

Buy your dream Car

Rates as low as 7.35%*
Up to 100% Funding
Doorstep Service
Hassle-free Disbursal
Unbiased Experts Advice

SBI Car Loan Key Features

SBI Car Interest Rate 7.35%* per annum
Min Loan Amount ₹ 100,000
Max Loan Amount
(Loan to Value)		 Loan up to 85% of On Road Price
or 100% of Ex-showroom Price
Loan Tenure 1 year to 7 years
Lowest EMI / Lac ₹ 1,559
Minimum Net Monthly Income ₹ 25,000
Minimum ITR for Self Employed ₹ 300,000
Age Criteria Salaried: 21 years to 65 years
Self Employed: 21 years to 65 years
Types of Cars For All New Passenger Cars, Multi Utility Vehicles (MUVs), and Sport Utility Vehicle (SUVs).
Processing Fee Up to 0.40% Only
Foreclosure Charges No foreclosure charges
Basic Documentation ID Proof, Address Proof, Salary Slip, Bank Statement and Car Quotation

About SBI Car Loan

State Bank of India is an Indian civil division banking and financial services legal organization headquartered in Mumbai, Maharashtra. It works on major business divisions like corporate banking, insurance, investment, mortgage credits, etc.

SBI provides Car Loans at very reasonable rates of interest to the customer for purchasing their desire car whether new or second hand. It is a readily available loan that can be obtained by anyone even by ones who have a somewhat low credit/CIBIL score.

Advantages of SBI Car Loan

SBI Car Loan

SBI Car Loan Eligibility

Salaried Individual
  • Age – 21-65 years of age
  • Net Monthly Income – should be minimum ₹ 25000
  • Employment Duration – Minimum 1 year
  • Income Eligibility – Depends on Form 16 and Salary Slip
Self-Employed Individuals
  • Age – 21-65 years of age
  • Minimum ITR  – Rs. 4 lakh, Rs. 18 lakhs (for selected car models)
  • Employment Duration – Minimum 3 years
  • Income Eligibility – Depends on the latest Income Tax Returns
Self-Employed Non-Individuals (Company/Partnership)
  • Minimum ITR  – Rs. 4 lakh, Rs. 18 lakhs (for selected car models)
  • Employment Duration – Minimum 3 years
  • The applicant has to present IT returns and audited financials of 2 years with Calculated Income.
Priority Customers
  • Applicant should have a vintage of at least 6 months
  • Average Quarterly Balance – Minimum Rs.1 lakh for last 2 quarters
  • Maximum Loan Amount – 3 X Average Quarterly Balance of Last 2 quarters

SBI Car Loan Interest Rate, Fees and Charges

Charges New Car Loan Used Car Loan
Interest Rate 7.35% p.a.  14.80% p.a. to 16.80% p.a.
Processing fee  0.40% of the loan amount 0.51% of the loan amount
Issuance of Duplicate Repayment Schedule Charges Rs.500 per instance Rs.500 per instance
Foreclosure Charges nil 5% of the principal outstanding
Penal Interest 2% per month 2% per month
Part Payment charges 5% of the paid amount 5% of the paid amount
Cheque/Instrument Swap Charge Rs.500 per instance Rs.500 per instance
Documentation Charge Rs.500 per instance Rs.500 per instance
Issuance of Duplicate No Dues Certificate Charges Rs.500 per instance Rs.500 per instance
Registration Certification Collection Charge Rs.200 per instance Rs.200 per instance
Cheque Bounce/Instrument Return Charges Rs.500 per instance Rs.500 per instance
Issuance of Duplicate Statement Charges Rs.500 per instance Rs.500 per instance
Loan Cancellation/Re-booking Charges Rs.2,500 per instance Rs.2,500 per instance
Issuance of Credit Report Rs.50 per instance Rs.50 per instance

SBI Car Loan Documents Required

Salaried Individual

Category Documents Required
Identity Proof

 

(Any 1)

 Driving Licence
Aadhaar Card
Passport
PAN
Voter ID
Address Proof

 

(Any 1)

 Driving Licence
Aadhaar Card
Passport
PAN
Voter ID
Date of Birth Proof

 

(Any 1)

 Birth Certificate
Passport
Driving Licence
PAN
Signature Proof

 

(Any 1)

 Passport
Bankers Verification
PAN
Income Proof Latest Form 16 and Salary Slips
Bank Statement Bank statement of last 3 months
Employment Continuity Proof Work Experience Certificate
ITR of Form 16
Salary Slip with Joining Date
Appointment Letter
Letter of Relieving

Self-Employed Individuals

Category Documents Required
Identity Proof (Any 1) Driving Licence
Aadhaar Card
Passport
PAN
Voter ID
Address Proof (Any 1) Driving Licence
Aadhaar Card
Passport
PAN
Voter ID
Date of Birth Proof (Any 1) Birth Certificate
Passport
Driving Licence
PAN
Signature Proof (Any 1) Passport
Bankers Verification
PAN
Income Proof Latest Form 16 and Salary Slips
Bank Statement Bank statement of last 3 months
Employment Continuity Proof Shop & Establishment Act Certificate
Current Account Statement
SSI or MSME Registration Certificate
Sales Tax or VAT Certificate
Business Proof Current Account Statement
Telephone Bill
Electricity Bill
Shop & Establishment Act Certificate
SSI or MSME Registration Certificate
Sales Tax or VAT Certificate
Registered Lease Document with other utility bills

Self-Employed Non-Individuals:

1. Partnership Firms/Societies

Category Documents Required
Identity Proof (Any 1) Driving Licence
Aadhaar Card
Passport
PAN
Voter ID
Address Proof (Any 1) Driving Licence
Aadhaar Card
Passport
PAN
Voter ID
Income Proof Audited Balance Sheet
P&L Account and ITR for the previous 2 years
Bank Statement Bank statement of last 3 months
Business Continuity Proof Shop & Establishment Act Certificate
Current Account Statement
SSI or MSME Registration Certificate
Sales Tax or VAT Certificate
Additional documents Authority Letter/PAN cards

2. Private Limited/Limited Companies

Category Documents Required
Identity Proof Copy of Latest MOA
Copy of Incorporation
Copy of Latest AOA
Address Proof (Any 1)
Current Account Statement
Telephone Bill
Electricity Bill
Shop & Establishment Act Certificate
SSI or MSME Registration Certificate
Sales Tax or VAT Certificate
Registered Lease Document with other utility bills
Income Proof Audited Balance Sheet
P&L Account and ITR for the previous 2 years
Bank Statement Bank statement of last 3 months
Business Continuity Proof Shop & Establishment Act Certificate
Current Account Statement
SSI or MSME Registration Certificate
Sales Tax or VAT Certificate
Additional documents
List of Directors and Shareholding Partners
PAN Card
Board Resolution
Certificate of Commencement of Business for Ltd. Co.

SBI Car Loan EMI Calculator

The applicant has the option to know the EMI’s before availing a Car Loan. Thus, you can easily check through the link below:

Car Loan EMI Calculator

SBI Car Loan Types

SBI offers different types of car loans to its customers. You have the option of choosing the offer which suits your need the best. It offers the following types of Car Loans:

  1. New Car Loan –  Those who wish to buy a new car, this is the scheme for you. You can take SBI Car Loan for a minimum of Rs. 1 lakh and a minimum tenure of 7 years.
  2. Used Car Loan – If you wish to buy a used car then you can choose this scheme which offers a minimum loan of Rs. 1 lakh and a minimum tenure of 5 years.
  3. Loan Against Car – You can opt for this scheme if you are in need of urgent funds where you can keep your cars as collateral with the bank where you can get Rs. 10 lakh or up to 50% of your car’s value.

SBI Car Loan Pre Calculated EMI

How to Apply for SBI Car Loan?

  1. Visit Dialabank and fill a form.
  2. Wait for a call from our Relationship Manager who will guide you throughout the process.
  3. You can compare different offers from banks and choose the one which suits your needs.
  4. Thus, easily apply for a Car Loan through Dialabank and enjoy the best offers.

SBI Car Loan for Top Selling Cars

Other Available Products from SBI

SBI Personal Loan SBI Gold Loan SBI Home Loan
SBI Credit Card SBI Two Wheeler Loan SBI Education Loan

FAQs for SBI Car Loan

✅ What is SBI Car Loan?

SBI car loan is a loan provided by SBI for a new car or on the used car.

✅ How can I get a Car Loan from SBI?

  1. Visit Dialabank and fill a form.
  2. Wait for a call from our Relationship Manager who will guide you throughout the process.
  3. You can compare different offers from banks and choose the one which suits your needs.
  4. Thus, easily apply for a Car Loan through Dialabank and enjoy the best offers.

✅ How does SBI Car Loan work?

When you will apply for a car loan, then you will get a call from our representative and then, there will a document verification process. Then, the loan amount will be credited to your account.

✅ What is the Car Loan Interest Rate in SBI?

The interest rate on a car loan in SBI is 7.35% only.

✅ How to Check Car Loan status in SBI?

You can track your car loan status online on the Car loan status website.

✅ How to Calculate Car Loan Interest in SBI?

 
Use Dialabank’s EMI calculator to find out the interest as well as the EMI on your loan.
 

✅ What is the maximum loan amount I can avail of on Car Loan from SBI?

The maximum loan amount you can avail of is 85% of the on-road price of the car.

✅ What is the loan tenure of SBI Car Loan?

The loan tenure of the SBI car loan is a maximum of 7 years.

✅ Can I get a 100% Car Loan from SBI?

Yes, you can get a 100% of Ex-showroom Price car loan from SBI.

✅ How much Processing Fee is applicable to SBI Car Loan?

SBI charges a processing fee of a minimum of 0.40%.

✅ What are the EMI options available on the SBI car loan?

SBI Provides two EMI options Step-up EMI and Balloon EMI.

✅ What are the charges for Prepayment in SBI Car Loan?

You can prepay/foreclose your SBI Car Loan at nil prepayment charges.

✅ Can I get a top-up loan on my existing SBI car loan?

You can get a top-up loan on your current car loan from SBI Bank for up to 150% of its value.

✅ Do I need to provide a guarantor to avail a car loan from SBI?

Generally, you don’t need a guarantor for a car loan. However, you may need a guarantor if you don’t fulfill the eligibility criteria.

✅ How to get SBI Car Loan Statement?

Get the statement in person by visiting your branch and requesting a detailed statement.

                                                  or

You can get the statement online. To do this, you should have SBI internet banking activated.

✅ How to Pay SBI Car Loan Interest Online?

Simply logon to online SBI payment to ‘see and pay’ your bills. You also get an electronic acknowledgment for every bill paid by you using e-PAY. You can also pay through Paytm.

✅ What if I can’t pay the interest on SBI Car Loan for 3 months?

SBI imposes 24% of the exceptional amount or a Fee ranging from Rs.500 to Rs.5000 for not paying the EMI for 3 months.

✅ How can I apply for EMI Moratorium on SBI Car Loan?

You can apply for EMI Moratorium on SBI Car Loans directly from the SBI website’s Loan corner.

✅ What is the number for the SBI Car Loan agent?

Call Dialabank at 9878981144 as it is one of the most trusted SBI Car Loan agents. Dialabank even ensures the best offers on your Car Loan.

✅ Can I close the SBI car loan online?

SBI car Loan can be closed by visiting the nearest branch and clearing off the outstanding amount.

✅ What is SBI Car Loan Customer Care Number?

Call 9878981144 and clear any of your queries with us anytime.

✅ How can I get NOC from SBI Bank for a Car loan?

You can get NOC directly from the branch for SBI Car Loans.

Table of Contents

Menu