State Bank of Patiala Car Loan Key Features – Jan 2021
| State Bank of Patiala 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 | ₹ 1,526 |
| Minimum Net Monthly Income | ₹ 20,000 |
| Minimum ITR for Self Employed | ₹ 300,000 |
| Age Criteria | Salaried: 21 years to 70 years Self Employed: 21 years to 75 years |
| Types of Cars | For All New Passenger Cars, Multi Utility Vehicles (MUVs) and Sport Utility Vehicle (SUVs). |
| Processing Fee | Up to 0.51% of the loan amount(Max Rs. 10200) |
| Foreclosure Charges | NIL |
| Basic Documentation | ID Proof, Address Proof, Salary Slip, Bank Statement and Car Quotation |
About State Bank of Patiala Car Loan
State Bank of Patiala is an associate bank of State Bank of India. State Bank of Patiala was founded on 17 November 1917. This bank was founded by Maharaja Bhupinder Singh, Maharaja of the princely state of Patiala of Undivided India.
State Bank of Patiala offers Car Loans at reasonable rates of interest to the customers for purchasing their dream car; it can be new or second hand. It is a readily available loan which can be availed by those who have a good credit/CIBIL score.
Advantages of State Bank of Patiala Car Loan
State Bank of Patiala Car Loan Eligibility
| Salaried Individual |
|
| Self-Employed Individuals |
|
| Self-Employed Non-Individuals (Company/Partnership) |
|
| Priority Customers |
|
State Bank of Patiala Car Loan Interest Rate, Fees and Charges
| Charges | New Car Loan | Used Car Loan |
| Interest Rate | 7.50% p.a. | 16% p.a. |
| Processing fee | Up to 0.51% of the loan amount(Max Rs. 10200) | Up to 0.51% of the loan amount(Max Rs. 10200) |
| Issuance of Duplicate Repayment Schedule Charges | Rs.500 per instance | Rs.500 per instance |
| Foreclosure Charges | No foreclosure charges | No foreclosure charges |
| 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.281 per instance | Rs.281 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 Patiala 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 three 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 three 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 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 | 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 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 Patiala Car Loan EMI Calculator
The candidate has the choice to know the EMI’s before getting a Car Loan. So, you can easily examine through the link below:
State Bank of Patiala Car Loan Types
State Bank of Patiala proffers three types of car loans to its customers. You have the option of picking the offer which suits you best. State Bank of Patiala offers the following types of Car Loans:
- New Car Loan – Those who want to buy a new car, this is the proposal for you. You can avail a Car Loan from State Bank of Patiala for a minimum of Rs. 1 lakh and a minimum tenure of 7 years.
- Used Car Loan – If you want to purchase a used car then you can choose this plan which offers a minimum loan of Rs. 1 lakh and a minimum tenure of 5 years.
- Loan Against Car – You can select this scheme if you require urgent funds where you can keep your cars as a guarantee with the bank where you can get Rs. 10 lakh or up to 50% of your car’s value.
State Bank of Patiala Car Loan Pre Calculated EMI
How to Apply for State Bank of Patiala Car Loan?
- Visit Dialabank and fill a form.
- Our Relationship Manager will assist you throughout the process.
- You can compare various offers from banks and pick the one which suits you.
- Thus, you can easily apply for a Car Loan with Dialabank and get best offers.
State Bank of Patiala Car Loan for Top Selling Cars
Other Available Products from State Bank of Patiala
FAQs for State Bank of Patiala Car Loan
✅ What is State Bank of Patiala Car Loan?
State Bank of Patiala Car Loan is a secured type of loan for the applicants willing to buy new/old car.
✅ How can I get Car Loan from State Bank of Patiala?
Use Dialabank to get a car loan from State Bank of Patiala with great benefits.
✅ How does State Bank of Patiala Car Loan work?
State Bank of Patiala provides funds to the applicant for buying the vehicle and charge interest against it.
✅ What is the Car Loan Interest Rate in State Bank of Patiala?
State Bank of Patiala charges a minimum of 7.50% interest rate.
✅ How to Check Car Loan status in State Bank of Patiala?
Contact to loan branch or check your State Bank of Patiala Car Loan status online through the website Loan portal.
✅ How to Calculate Car Loan Interest in State Bank of Patiala?
Use Dialabank calculator to calculate your interest and EMI.
✅ What is the maximum loan amount I can avail on Car Loan from State Bank of Patiala?
You can get up to 100% of the ex-showroom price. There’s no predefined limit on the loan amount.
✅ What is the loan tenure of State Bank of India Car Loan?
Loan Tenure of Union Bank of India is up to 7 years for the new cars and five years for the used ones.
✅ Can I get 100% Car Loan from State Bank of Patiala?
Yes, you can get 100% Car Loan from State Bank of Patiala.
✅ How much Processing Fee is applicable on State Bank of Patiala Car Loan?
State Bank of Patiala charges 0.51% up to Rs.10,500 as processing fee from the applicant.
✅ What are the EMI options available on State bank of Patiala car loan?
Balloon EMI and Step-up EMI are the two options available with State Bank of Patiala Car loan.
✅ What are the charges for Prepayment in State Bank of Patiala Car Loan?
No particular prepayment fee is charged on foreclosure of the loan.
✅ Can I get a top-up loan on my existing State Bank of Patiala car loan?
Top-up on Existing Loan depends on some specific criteria. Contact the nearest State Bank of Patiala Branch to know in detail.
✅ Do I need to provide a guarantor to avail a car loan from State Bank of Patiala?
State Bank of Patiala doesn’t ask for any type of guarantor as your car is the only security.
✅ How to get State Bank of Patiala Car Loan Statement?
Get your car Loan statement directly through the ATM or Branch of State Bank of Patiala. You can get it quickly from the bank’s website too.
✅ How to Pay State Bank of Patiala Car Loan Interest Online?
State Bank of Patiala offers an option to pay your interest online using Net banking or credit/Debit Card.
✅ What if I can’t pay the interest on State Bank of Patiala Car Loan for three months?
State Bank of Patiala has the right to take your vehicle back and impose hefty fines on you if you fail to pay interest for three months without any prior information.
✅ How can I apply for EMI Moratorium on State Bank of Patiala Car Loan?
You can apply for EMI Moratorium on State Bank of Patiala by writing an application to branch manager directly stating the reason behind the same.
✅ Can I close State Bank of Patiala Car Loan online?
State Bank of Patiala requires you to reach the nearest branch to completely close the loan, whereas you can surely start the process of closing your loan online.
✅ What is the State bank of Patiala Car Loan Customer Care Number?
9878981166 is the number you need for all your queries related to State Bank of Patiala Car loan.
✅ How can I get NOC State Bank of Patiala for a car loan?
State Bank of Patiala provides NOC for your Car Loan after you pay all your outstanding dues against your loan.
What is the State Bank of Patiala Car Loan Car Loan closure procedure?
- Just go to the bank with the documents.
- Write a letter for pre-closure of the State Bank of Patiala Car Loan Car Loan account.
- Pay the pre-closure charges as per State Bank of Patiala Car Loan Car Loan.
✅ What is the State Bank of Patiala Car Loan Car Loan preclosure charges?
State Bank of Patiala Car Loan Car Loan preclosure charges are zero.
✅ What is the State Bank of Patiala Car Loan 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 Patiala Car Loan 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 Patiala Car Loan 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 Patiala Car Loan Car Loan maximum tenure?
The State Bank of Patiala Car Loan Car Loan maximum tenure is 7 years.
✅ What is the State Bank of Patiala Car Loan Car Loan minimum tenure?
The State Bank of Patiala Car Loan Car Loan minimum tenure is 1 year.
Table of Contents
- 1 State Bank of Patiala Car Loan Key Features – Jan 2021
- 2 About State Bank of Patiala Car Loan
- 3 Advantages of State Bank of Patiala Car Loan
- 4 State Bank of Patiala Car Loan Eligibility
- 5 State Bank of Patiala Car Loan Interest Rate, Fees and Charges
- 6 State Bank of Patiala Car Loan Documents Required
- 7 State Bank of Patiala Car Loan EMI Calculator
- 8 State Bank of Patiala Car Loan Types
- 9 State Bank of Patiala Car Loan Pre Calculated EMI
- 10 How to Apply for State Bank of Patiala Car Loan?
- 11 State Bank of Patiala Car Loan for Top Selling Cars
- 12 Other Available Products from State Bank of Patiala
- 13 FAQs for State Bank of Patiala Car Loan
- 13.1 ✅ What is State Bank of Patiala Car Loan?
- 13.2 ✅ How can I get Car Loan from State Bank of Patiala?
- 13.3 ✅ How does State Bank of Patiala Car Loan work?
- 13.4 ✅ What is the Car Loan Interest Rate in State Bank of Patiala?
- 13.5 ✅ How to Check Car Loan status in State Bank of Patiala?
- 13.6 ✅ How to Calculate Car Loan Interest in State Bank of Patiala?
- 13.7 ✅ What is the maximum loan amount I can avail on Car Loan from State Bank of Patiala?
- 13.8 ✅ What is the loan tenure of State Bank of India Car Loan?
- 13.9 ✅ Can I get 100% Car Loan from State Bank of Patiala?
- 13.10 ✅ How much Processing Fee is applicable on State Bank of Patiala Car Loan?
- 13.11 ✅ What are the EMI options available on State bank of Patiala car loan?
- 13.12 ✅ What are the charges for Prepayment in State Bank of Patiala Car Loan?
- 13.13 ✅ Can I get a top-up loan on my existing State Bank of Patiala car loan?
- 13.14 ✅ Do I need to provide a guarantor to avail a car loan from State Bank of Patiala?
- 13.15 ✅ How to get State Bank of Patiala Car Loan Statement?
- 13.16 ✅ How to Pay State Bank of Patiala Car Loan Interest Online?
- 13.17 ✅ What if I can’t pay the interest on State Bank of Patiala Car Loan for three months?
- 13.18 ✅ How can I apply for EMI Moratorium on State Bank of Patiala Car Loan?
- 13.19 ✅ Can I close State Bank of Patiala Car Loan online?
- 13.20 ✅ What is the State bank of Patiala Car Loan Customer Care Number?
- 13.21 ✅ How can I get NOC State Bank of Patiala for a car loan?
- 13.22 What is the State Bank of Patiala Car Loan Car Loan closure procedure?
- 13.23 ✅ What is the State Bank of Patiala Car Loan Car Loan preclosure charges?
- 13.24 ✅ What is the State Bank of Patiala Car Loan Car Loan overdraft scheme?
- 13.25 ✅ What is the State Bank of Patiala Car Loan Car Loan maximum tenure?
- 13.26 ✅ What is the State Bank of Patiala Car Loan Car Loan minimum tenure?
