State Bank of Travancore 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

State Bank of Travancore Car Loan Key Features

State Bank of Travancore Car LoanInterest Rate 7.50% per annum
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 1 year to 7 years
Lowest EMI / Lac ₹ 1,526
Minimum Net Monthly Income ₹ 25,000
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 0.30% (Max Rs. 3000)
Foreclosure Charges No foreclosure charges
Basic Documentation ID Proof, Address Proof, Salary Slip, Bank Statement and Car Quotation

About State Bank of Travancore Car Loan

State Bank of Travancore is a subsidiary of the State Bank Group and also has share-holders. It is the premier bank of Kerala, India. It has 1,157 branches and 1,602 ATMs overall.

State Bank of Travancore offers Car Loans at reasonable interest rates to the consumer for purchasing their dream car either new or second hand. This loan is easily available who have a good credit/CIBIL score.

Advantages of State Bank of Travancore Car Loan

State Bank of Travancore Car Loan

State Bank of Travancore Car Loan Eligibility

Salaried Individual
  • Age – 21-60 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

State Bank of Travancore Car Loan Interest Rate, Fees and Charges

Charges New Car Loan Used Car Loan
Interest Rate 7.50% p.a. 10.20 p.a.
Processing fee Up to 0.30% of the loan amount(Max Rs. 3,000) Up to 0.30% of the loan amount(Max Rs. 3,000)
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.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 Travancore 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 Travancore Car Loan EMI Calculator

The seeker has the option to check the EMI’s before getting a Car Loan. You can easily check out through the link below:

Car Loan EMI Calculator

State Bank of Travancore Car Loan Types

State Bank of Travancore presents different types of car loans to its customers. You have the option of picking the offer which suits your need the best. It offers the following types of Car Loans:

  1. New Car Loan –  If you want to buy a new car, this is the plan for you. You can get a car loan from State bank of Travancore for a minimum of Rs. 1 lakh and a minimum tenure of 7 years.
  2. Used Car Loan – If you want to purchase a used car then you can select this scheme which offers a minimum loan of Rs. 1 lakh and a minimum tenure of 5 years.
  3. Loan Against Car – You can choose this scheme if you need urgent funds where you can keep your cars as security with the bank.

State Bank of Travancore Car Loan Pre Calculated EMI

How to Apply for State Bank of Travancore Car Loan?

  1. Visit Dialabank and fill a form.
  2. Our Relationship Manager will call you and guide you throughout the processing of a car loan.
  3. You can compare various offers from banks and pick the one which suits you.
  4. So, you can easily apply for a Car Loan with Dialabank and enjoy offers.

State Bank of Travancore Car Loan for Top Selling Cars

Other Available Products from State Bank of Travancore

State Bank of Travancore Personal Loan State Bank of Travancore Gold Loan State Bank of Travancore Home Loan
State Bank of Travancore Credit Card State Bank of Travancore Two Wheeler Loan State Bank of Travancore Education Loan

FAQs for State Bank of Travancore Car Loan

✅ What is State Bank of Travancore Car Loan?

Car loan refers to the various financial products which allow someone to acquire a car, including car finances and leases.

✅ How can I get a Car Loan from State Bank of Travancore?

There are two main ways in which one can avail a car loan from State Bank of Travancore. One is through online application and the other is through the in-branch application. The existing customers could also be eligible for pre-approved car loans based on terms and conditions.

✅ How does the State Bank of Travancore Car loan work?

State Bank of Travancore gives car loans at extremely attractive interest rates based on your eligibility and the amount you borrow as a loan and the loan period that you choose. Any salaried or self-employed borrower between the ages of 21-58 years with a decent credit score, a constant occupation, and a firm income is qualified to apply for a Yes Bank car loan.

✅ How to Check Car Loan status of State Bank of Travancore?

You can check your car loan status in Yes Bank by visiting the nearest branch or by checking the bank’s website.

✅What is the maximum loan amount that I can avail of on a car loan of State Bank of Travancore?

N/A

✅ What is the loan tenure of State Bank of Travancore Car loan?

The loan tenure of State Bank of Travancore ranges from 1 year to 8 years.

✅ Can I get a 100% Car loan from State Bank of Travancore? 

A 100% loan amount will be provided on the on-road price of the vehicle for selected models. It offers the most competitive interest rates in the industry. There will be multiple repayment options available.

✅ Can you prepay your State Bank of Travancore Car Loan?

There is no prepay/foreclosure charges for a car loan from State Bank of Travancore.

✅ Does State Bank of Travancore Car Loan charge any Processing Fees?

The processing fee charged by State Bank of Travancore is up to 0.30% of the loan amount or Maximum Rs. 3,000 for availing a car loan.

✅ Can I get a State Bank of Travancore Car Loan if I have a low Credit score? 

State Bank of Travancore requires you to have a good credit score of 700 or above for a car loan.

✅ What can you keep as Security with State Bank of Travancore to get a Car Loan?

No need of any other guarantee other than the car itself to avail a car loan from State Bank of Travancore.

Table of Contents

Menu