State Bank of Indore Car Loan Key Features – Jan 2021
| Interest Rate | 7.50%* 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 | ₹ 15,000 |
| Minimum ITR for Self Employed | ₹ 300,000 |
| Age Criteria | Salaried: 21 years to 60 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 ₹ 10,200 Only |
| Foreclosure Charges | No foreclosure are levied after the first 12 EMIs Up to 2% before the first 12 EMIs |
| Basic Documentation | ID Proof, Address Proof, Salary Slip, Bank Statement and Car Quotation |
About State Bank of Indore Car Loan
State Bank of Indore (Indore Bank) was a government-owned Indian bank and the largest of State Bank of India’s (SBI) six associate bank subsidiaries.
State Bank of Indore provides Car Loans at attractive rates of interest to the consumer for buying their dream car whether new or second hand. It is an easily available loan that can be procured by anyone even by ones who have a slightly low credit/CIBIL score.
Advantages of State Bank of Indore Car Loan
State Bank of Indore Car Loan Eligibility
| Salaried Individual |
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| Self-Employed Individuals |
|
| Self-Employed Non-Individuals (Company/Partnership) |
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| Priority Customers |
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State Bank of Indore Car Loan Interest Rate, Fees and Charges
| Charges | New Car Loan | Used Car Loan |
| Interest Rate | 7.50% p.a. to 11.30% p.a. | 14.80% p.a. to 16.80% p.a. |
| Processing fee | Rs.1,020 to Rs.10,200 | 1% of the loan amount or Rs.6,000, whichever is lower |
| Issuance of Duplicate Repayment Schedule Charges | Rs.500 per instance | Rs.500 per instance |
| Foreclosure Charges | 5% of the principal outstanding | 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 |
State Bank of Indore 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. |
State Bank of Indore 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:
State Bank of Indore Car Loan Types
State Bank of Indore 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:
- New Car Loan – Those who wish to buy a new car, this is the scheme for you. You can take State Bank of Indore Car Loan for a minimum of Rs. 1 lakh and a minimum tenure of 7 years.
- 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.
- 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.
State Bank of Indore Car Loan Pre Calculated EMI
How to Apply for State Bank of Indore Car Loan?
- Visit Dialabank and fill a form.
- Wait for a call from our Relationship Manager who will guide you throughout the process.
- You can compare different offers from banks and choose the one which suits your needs.
- Thus, easily apply for a Car Loan through Dialabank and enjoy best offers.
State Bank of Indore Car Loan for Top Selling Cars
Other Available Products from State Bank of Indore
| State Bank of Indore Personal Loan | State Bank of Indore Gold Loan | State Bank of Indore Home Loan |
| State Bank of Indore Credit Card | State Bank of Indore Two Wheeler Loan | State Bank of Indore Education Loan |
FAQs for State Bank of Indore Car Loan
✅ What is the State Bank of Indore Car Loan?
State Bank of Indore car loan is the loan sum provided to its customers by the bank for a new or used car.
✅ How can I get a Car Loan from the State Bank of Indore?
- Visit Dialabank and fill a form.
- Wait for a call from our Relationship Manager who will guide you throughout the process.
- You can compare different offers from banks and choose the one which suits your needs.
- Thus, easily apply for a Car Loan through Dialabank and enjoy the best offers.
✅ How does State Bank of Indore 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 State Bank of Indore?
The interest rate on a car loan in the State Bank of Indore is 7.50% only.
✅ How to Check Car Loan status in State Bank of Indore?
You can track your car loan status online on the Car loan status website.
✅ How to Calculate Car Loan Interest in State Bank of Indore?
✅ What is the maximum loan amount I can avail of on Car Loan from the State Bank of Indore?
The maximum loan amount you can avail of on a car loan is up to 85% of On Road Price.
✅ What is the loan tenure of State Bank of Indore Car Loan?
The loan tenure of the State Bank of Indore Car Loan is a maximum of 7 years.
✅ Can I get a 100% Car Loan from the State Bank of Indore?
Yes, you can get a 100% Ex-showroom Price car loan from the State Bank of Indore.
✅ How much Processing Fee is applicable to the State Bank of Indore Car Loan?
State Bank of Indore charges a processing fee of minimum Rs.1,020 to maximum Rs.10,200
✅ What are the EMI options available on the State Bank of Indore Car Loan?
State Bank of Indore Provides two EMI options Step-up EMI and Balloon EMI.
✅ What are the charges for Prepayment in State Bank of Indore Car Loan?
You can prepay/foreclose your State Bank of Indore Car Loan with No foreclosure charges after the first 12 EMIs and 2% before the first 12 EMIs.
✅ Can I get a top-up loan on my existing State Bank of Indore car loan?
You can get a top-up loan on your current car loan from the State Bank of Indore for up to 150% of its value.
✅ Do I need to provide a guarantor to avail a car loan from the State Bank of Indore?
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 the State Bank of Indore 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 a State Bank of Indore internet banking activated.
✅ How to Pay State Bank of Indore Car Loan Interest Online?
Simply logon to online State Bank of Indore 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 State Bank of Indore Car Loan for 3 months?
State Bank of Indore 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 State Bank of Indore Car Loan?
You can apply for EMI Moratorium on State Bank of Indore Car Loans directly from the State Bank of Indore website’s Loan corner.
✅ What is the number for the State Bank of Indore Car Loan agent?
Call Dialabank at 9878981166 as it is one of the most trusted State Bank of Indore Car Loan agents. Dialabank even ensures the best offers on your Car Loan.
✅ Can I close the State Bank of Indore car loan online?
State Bank of Indore car loans can be closed by visiting the nearest branch and clearing off the outstanding amount.
✅ What is the State Bank of Indore Car Loan Customer Care Number?
Call 9878981166 and clear any of your queries with us anytime.
✅ How can I get NOC from the State Bank of Indore for a Car loan?
You can get NOC directly from the branch for State Bank of Indore Car Loans.
✅ What is the State Bank of Indore Car Loan closure procedure?
- Just go to the bank with the documents.
- Write a letter for pre-closure of the State Bank of Indore Car Loan account.
- Pay the pre-closure charges as per State Bank of Indore Car Loan.
✅ What is the State Bank of Indore Car Loan preclosure charges?
State Bank of Indore Car Loan preclosure charges are 2% of the principal outstanding.
✅ What is the State Bank of Indore Car Loan maximum tenure?
The State Bank of Indore Car Loan maximum tenure is 7 years.
✅ What is the State Bank of Indore Car Loan minimum tenure?
The State Bank of Indore Car Loan minimum tenure is 1 year.
Table of Contents
- 1 State Bank of Indore Car Loan Key Features – Jan 2021
- 2 About State Bank of Indore Car Loan
- 3 Advantages of State Bank of Indore Car Loan
- 4 State Bank of Indore Car Loan Eligibility
- 5 State Bank of Indore Car Loan Interest Rate, Fees and Charges
- 6 State Bank of Indore Car Loan Documents Required
- 7 State Bank of Indore Car Loan EMI Calculator
- 8 State Bank of Indore Car Loan Types
- 9 State Bank of Indore Car Loan Pre Calculated EMI
- 10 How to Apply for State Bank of Indore Car Loan?
- 11 State Bank of Indore Car Loan for Top Selling Cars
- 12 Other Available Products from State Bank of Indore
- 13 FAQs for State Bank of Indore Car Loan
- 13.1 ✅ What is the State Bank of Indore Car Loan?
- 13.2 ✅ How can I get a Car Loan from the State Bank of Indore?
- 13.3 ✅ How does State Bank of Indore Car Loan work?
- 13.4 ✅ What is the Car Loan Interest Rate in State Bank of Indore?
- 13.5 ✅ How to Check Car Loan status in State Bank of Indore?
- 13.6 ✅ How to Calculate Car Loan Interest in State Bank of Indore?
- 13.7 ✅ What is the maximum loan amount I can avail of on Car Loan from the State Bank of Indore?
- 13.8 ✅ What is the loan tenure of State Bank of Indore Car Loan?
- 13.9 ✅ Can I get a 100% Car Loan from the State Bank of Indore?
- 13.10 ✅ How much Processing Fee is applicable to the State Bank of Indore Car Loan?
- 13.11 ✅ What are the EMI options available on the State Bank of Indore Car Loan?
- 13.12 ✅ What are the charges for Prepayment in State Bank of Indore Car Loan?
- 13.13 ✅ Can I get a top-up loan on my existing State Bank of Indore car loan?
- 13.14 ✅ Do I need to provide a guarantor to avail a car loan from the State Bank of Indore?
- 13.15 ✅ How to get the State Bank of Indore Car Loan Statement?
- 13.16 ✅ How to Pay State Bank of Indore Car Loan Interest Online?
- 13.17 ✅ What if I can’t pay the interest on State Bank of Indore Car Loan for 3 months?
- 13.18 ✅ How can I apply for EMI Moratorium on State Bank of Indore Car Loan?
- 13.19 ✅ What is the number for the State Bank of Indore Car Loan agent?
- 13.20 ✅ Can I close the State Bank of Indore car loan online?
- 13.21 ✅ What is the State Bank of Indore Car Loan Customer Care Number?
- 13.22 ✅ How can I get NOC from the State Bank of Indore for a Car loan?
- 13.23 ✅ What is the State Bank of Indore Car Loan closure procedure?
- 13.24 ✅ What is the State Bank of Indore Car Loan preclosure charges?
- 13.25 ✅ What is the State Bank of Indore Car Loan maximum tenure?
- 13.26 ✅ What is the State Bank of Indore Car Loan minimum tenure?
