State Bank of Mysore Car Loan Key Features – January 2021
| State Bank of Mysore Car Loan Interest Rate | 7.50% |
| Min Loan Amount | ₹ 100,000 |
| Max Loan Amount (Loan to Value) |
Loan up to 90% of On Road Price or 100% of Ex-showroom Price |
| Loan Tenure | One year to 7 years |
| Lowest EMI / Lac | ₹ 1,590 |
| Minimum Net Monthly Income | ₹ 20,000 |
| Minimum ITR for Self Employed | ₹ 2,50,000 |
| 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 | 0.20% (Rs.500 – Rs.10,000) |
| Foreclosure Charges | Varies* |
| Basic Documentation | ID Proof, Address Proof, Salary Slip, Bank Statement and Car Quotation |
About State Bank of Mysore Car Loan
Headquartered in Bangalore, State Bank of Mysore is a public sector bank founded in 1913 as The Bank of Mysore Limited.
SBI is the successor of State Bank of Mysore.
N. Krishnamanchari is the CEO of the bank.
The bank has 1074 branches and nine extension counters nationally.
State Bank of Mysore car loan is one of the most exceptional financial product provided by the bank. CIBIL score and other criteria are kept in the light while sanctioning the Car Loan.
Advantages of State Bank of Mysore Car Loan
State Bank of Mysore Car Loan Eligibility
| Salaried Individual |
|
| Self-Employed Individuals |
|
| Self-Employed Non-Individuals (Company/Partnership) |
|
| Priority Customers |
|
State Bank of Mysore 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 | 0.20% (Rs.500 – Rs.10,000) | 0.20% (Rs.500 – Rs.10,000) |
| Issuance of Duplicate Repayment Schedule Charges | A basic of Rs.500 | A basic of Rs.500 |
| Foreclosure Charges | Varies according to profile* | Varies according to profile* |
| Penal Interest | 1 to 2% per month | 1 to 2% per month |
| Part Payment charges | 5% of the paid amount | 5% of the paid amount |
| Cheque/Instrument Swap Charge | A basic of Rs.500 | A basic of Rs.500 |
| Documentation Charge | A basic of Rs.500 | A basic of Rs.500 |
| Issuance of Duplicate No Dues Certificate Charges | A basic of Rs.500 | A basic of Rs.500 |
| Registration Certification Collection Charge | A basic of Rs.200 | A basic of Rs.200 |
| Cheque Bounce/Instrument Return Charges | A basic of Rs.500 | A basic of Rs.500 |
| Issuance of Duplicate Statement Charges | A basic of Rs.500 | A basic of Rs.500 |
| Loan Cancellation/Re-booking Charges | Rs.2,500 per instance | Rs.2,500 per instance |
| Issuance of Credit Report | Approx Rs.50 | Approx Rs.50 |
State Bank of Mysore Car Loan Documents Required
Documents required for a car loan are as followed:
Salaried Individual
| Category | Documents Required |
| Identity Proof
(Any 1) |
Passport Driving Licence PAN Voter ID |
| Address Proof
(Any 1) |
Passport Voter ID Driving Licence Aadhaar Card |
| Date of Birth Proof
(Any 1) |
Driving Licence Birth Certificate Passport PAN |
| Signature Proof
(Any 1) |
Passport Bankers Verification PAN |
| Income Proof | Latest Form 16 and Salary Slips |
| Bank Statement | Bank statement of the last 12 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 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 the last 12 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) | Passport PAN Voter ID Driving Licence Aadhaar Card |
| 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 two years |
| Bank Statement | Bank statement of the last 12 months |
| Business Continuity Proof | Shop & Establishment Act Certificate SSI or MSME Registration Certificate Sales Tax or VAT Certificate Current Account Statement |
| Additional documents | Authority Letter or PAN card |
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 SSI or MSME Registration Certificate Sales Tax or VAT Certificate Shop & Establishment Act Certificate Registered Lease Document with other utility bills |
| Income Proof | Audited Balance Sheet P&L Account and ITR for the previous two years |
| Bank Statement | Bank statement of last three 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 Mysore Car Loan EMI Calculator
Use the calculator give below to check the EMIs of your loan:
State Bank of Mysore Car Loan Types
State Bank of Mysore provides a range of car loan for different customers willing to buy the car:
- New Car Loan – Go for this loan for purchasing a brand new car and loan tenure of 7 years.
- Used Car Loan – Go for this loan for buying any used car with a loan tenure of 5 years.
- Loan Against Car – Go for this loan if you have a car already and want to get funds through a loan against it.
State Bank of Mysore Car Loan Pre Calculated EMI
How to Apply for State Bank of Mysore Car Loan?
- Provide your details at Dialabank web address.
- Get assistance from our Relationship Manager for the loan process.
- Select the best loan type after comparing all the options available.
- Applying with Dialabank for the car loan is the best deal you can come through.
State bank of Mysore Car Loan for Top Selling Cars
Other Available Products from State Bank of Mysore
| Personal Loan | Education Loan | Loan Against Property |
| Car Loan | Two Wheeler Loan | Home Loan |
FAQs for State Bank of Mysore Car Loan
✅ What is State Bank of Mysore Car Loan?
State Bank of Mysore Car loan is a financial product of the bank which avails funds to the applicants looking to buy any new or second-hand car.
✅ How can I get Car Loan from State Bank of Mysore?
Use Dialabank to get State Bank of Mysore car Loan.
✅ How does State Bank of Mysore Car Loan work?
State Bank of Mysore Car Loan includes providing funds to the applicant for buying a car and charging interest rate against the loan.
✅ What is the Car Loan Interest Rate in State bank of Mysore?
Car Loan Interest in State Bank of Mysore is 7.50%
✅ How to Check Car Loan status in State Bank of Mysore?
Check the Loan status online on State Bank of Mysore’s website.
✅ How to Calculate Car Loan Interest in State Bank of Mysore?
Dialabank Calculator helps you to find the interest rates.
✅ What is the maximum loan amount I can avail on Car Loan from State Bank of Mysore?
100% of the ex-showroom price Loan can be availed with State bank of Mysore.
✅ What is the loan tenure of State Bank of Mysore Car Loan?
1 – 7 years is the car Loan tenure of State Bank of Mysore.
✅ Can I get 100% Car Loan from State Bank of Mysore?
Yes, State Bank of Mysore provides 100% car Loan on the ex-showroom price.
✅ How much Processing Fee is applicable on State Bank of Mysore Car Loan?
0.20% ranging from a minimum of Rs. 500 to the maximum of Rs.10,000 is the processing fee of State Bank of Mysore.
✅ What are the EMI options available on State Bank of Mysore Car Loan?
Step-up EMI and Balloon EMI options are available with State Bank of Mysore.
✅ What are the charges for Prepayment in State Bank of Mysore Car Loan?
Prepayment Charges of State Bank of Mysore varies according to the loan amount.
✅ Can I get a top-up loan on my existing State Bank of Mysore Car loan?
No, Top-up on State Bank of Mysore Car Loan is not available.
✅ Do I need to provide a guarantor to avail a car loan from State Bank of Mysore?
No, State Bank of Mysore doesn’t ask for the guarantor in case of Car Loan.
✅ How to get State Bank of Mysore Car Loan Statement?
Get Car Loan Statement directly from your loan dashboard of bank’s website or else by the branch.
✅ How to Pay State Bank of Mysore Car Loan Interest Online?
Use net banking for paying State Bank of Mysore Car Loan Interest rate Online.
✅ What if I can’t pay the interest on State Bank of Mysore Car Loan for three months?
Fine will be imposed for not paying interest for three months.
✅ How can I apply for EMI Moratorium on State Bank of Mysore Car Loan?
Write an application to the branch manager for EMI Moratorium on State Bank of Mysore Car Loan.
✅ What is the number for State Bank of Mysore Car Loan agent?
DialaBank is the finest Car Loan agent of State Bank of Mysore. Contact Number: 9878981166.
✅ Can I close State Bank of Mysore Car Loan online?
You can initiate the closing process online.
✅ What is HDFC Car Loan Customer Care Number?
Ring us on 9878981166 for all your questions.
✅ How can I get NOC from State Bank of Mysore for a car loan?
Get your NOC from State Bank of Mysore for Car Loan from the branch itself after paying your outstanding payments.
✅What is the State Bank of Mysore Car Loan closure procedure?
- Just go to the bank with the List of documents required for Car Loan.
- Write a letter for pre-closure of the State Bank of Mysore Car Loan account.
- Pay the pre-closure charges as per State Bank of Mysore Car Loan.
✅ What is the State Bank of Mysore Car Loan preclosure charges?
State Bank of Mysore Car Loan preclosure charges can vary according to the bank.
✅ What is the State Bank of Mysore Car Loan overdraft scheme?
For simplifying the process and providing you with a hassle-free service while processing an overdraft scheme at State Bank of Mysore bank is provided, it gives you an online way to get your own overdraft, also known as Smartdraft – Overdraft Against Salary. You do not need to visit bank branches and go through a boring process. Just log in to the State Bank of Mysore online banking portal and from there you can fill out a simple form and get an overdraft under your name.
✅ What is the State Bank of Mysore Car Loan maximum tenure?
The State Bank of Mysore Car Loan maximum tenure is 7 years.
✅ What is the State Bank of Mysore Car Loan minimum tenure?
The State Bank of Mysore Car Loan minimum tenure is 1 year.
Table of Contents
- 1 State Bank of Mysore Car Loan Key Features – January 2021
- 2 About State Bank of Mysore Car Loan
- 3 Advantages of State Bank of Mysore Car Loan
- 4 State Bank of Mysore Car Loan Eligibility
- 5 State Bank of Mysore Car Loan Interest Rate, Fees and Charges
- 6 State Bank of Mysore Car Loan Documents Required
- 7 State Bank of Mysore Car Loan EMI Calculator
- 8 State Bank of Mysore Car Loan Types
- 9 State Bank of Mysore Car Loan Pre Calculated EMI
- 10 How to Apply for State Bank of Mysore Car Loan?
- 11 State bank of Mysore Car Loan for Top Selling Cars
- 12 Other Available Products from State Bank of Mysore
- 13 FAQs for State Bank of Mysore Car Loan
- 13.1 ✅ What is State Bank of Mysore Car Loan?
- 13.2 ✅ How can I get Car Loan from State Bank of Mysore?
- 13.3 ✅ How does State Bank of Mysore Car Loan work?
- 13.4 ✅ What is the Car Loan Interest Rate in State bank of Mysore?
- 13.5 ✅ How to Check Car Loan status in State Bank of Mysore?
- 13.6 ✅ How to Calculate Car Loan Interest in State Bank of Mysore?
- 13.7 ✅ What is the maximum loan amount I can avail on Car Loan from State Bank of Mysore?
- 13.8 ✅ What is the loan tenure of State Bank of Mysore Car Loan?
- 13.9 ✅ Can I get 100% Car Loan from State Bank of Mysore?
- 13.10 ✅ How much Processing Fee is applicable on State Bank of Mysore Car Loan?
- 13.11 ✅ What are the EMI options available on State Bank of Mysore Car Loan?
- 13.12 ✅ What are the charges for Prepayment in State Bank of Mysore Car Loan?
- 13.13 ✅ Can I get a top-up loan on my existing State Bank of Mysore Car loan?
- 13.14 ✅ Do I need to provide a guarantor to avail a car loan from State Bank of Mysore?
- 13.15 ✅ How to get State Bank of Mysore Car Loan Statement?
- 13.16 ✅ How to Pay State Bank of Mysore Car Loan Interest Online?
- 13.17 ✅ What if I can’t pay the interest on State Bank of Mysore Car Loan for three months?
- 13.18 ✅ How can I apply for EMI Moratorium on State Bank of Mysore Car Loan?
- 13.19 ✅ What is the number for State Bank of Mysore Car Loan agent?
- 13.20 ✅ Can I close State Bank of Mysore Car Loan online?
- 13.21 ✅ What is HDFC Car Loan Customer Care Number?
- 13.22 ✅ How can I get NOC from State Bank of Mysore for a car loan?
- 13.23 ✅What is the State Bank of Mysore Car Loan closure procedure?
- 13.24 ✅ What is the State Bank of Mysore Car Loan preclosure charges?
- 13.25 ✅ What is the State Bank of Mysore Car Loan overdraft scheme?
- 13.26 ✅ What is the State Bank of Mysore Car Loan maximum tenure?
- 13.27 ✅ What is the State Bank of Mysore Car Loan minimum tenure?
