SBI offers car loan scheme with a repayment tenure of up to 7 years. State Bank of India or SBI, country’s largest lender, provides a variety of loans under its personal finance portfolio. Housing loan, car loan, personal loan, loans against property and education loans are some of the products offered by SBI.

What is interest rate for car loan in SBI?

Quick guide on SBI Car Loan Maximum loan tenure of 7 years. Interest rates in the range of 7.50% to 8.45%. Lowest EMI of ₹ 1,534 per lakh.

How can I check my SBI car loan details?

Track your SBI Car Loan Status Online Click on the ‘Application Tracker’ button present on the top-right hand corner of the page. Choose the ‘Track’ followed by the ‘Retail Loan ‘ option, enter the application reference number and your mobile number. Hit the ‘Track’ button to know the status of your car loan application.

What are the documents required for car loan in SBI?

Documents Required Statement of bank account for last 6 months. 2 passport size photographs. Proof of Identity. Address Proof . Income Proof: Latest Salary Slip, Form 16. I.T. Returns or Form 16 for the last 2 years. Proof of Identity : – (Copy of any one) Passport / PAN Card / Voters ID card / Driving License etc.

Which bank is best for car loan?

Union Bank of India Car Loan. HDFC Bank Car Loan. Federal Bank Car Loan. Axis Bank Car Loan. Canara Bank Car Loan. IDBI Bank Car Loan. Punjab National Bank Car Loan. Syndicate Bank Car Loan.

Is SBI car loan fixed or floating?

Car Loan EMI of SBI is a fixed amount that you pay each month towards the repayment of your car loan till the end of tenure. Lowest EMI offered by SBI is Rs. 1,534 per lakh loan amount at lowest car loan interest rate of 9.25%.

What is the EMI for 10 lakhs car loan?

What is a car loan EMI calculator?

How can I find my car loan details?

The car loan balance can be found out by simply contacting your lender. Additionally, your lender may also provide you with monthly updates regarding the loan balance. However, if your lender does not provide you a monthly loan balance then you can simply request for it be sent on a monthly basis.

Which bank has lowest car loan rates?

Car Loan Interest Rate Comparison for All Banks, Lowest EMI, Best Rates in India

How can I link my SBI account to loan?

Just log on to Personal Banking section of the Internet Banking site with your credentials and select the “Home Loan Int. Cert (Prov)” link under “Enquiries” tab. Then select the account for which you require a Home Loan Interest Certificate.

What is the minimum salary for car loan?

Check Eligibility Criteria for Car Loan

Can we get 100 percent car loan?

Car Loan Eligibility Criteria for 100 % On-Road Finance The applicant must have a minimum annual income of Rs. 3 lakh. The car loan amount will not be more than the applicant’s net annual income. Existing loan EMIs plus the proposed loan EMI must be less than 50% of the applicant’s salary.

What is the minimum down payment for a car loan?

When it comes to a down payment on a new car , you should try to cover at least 20% of the purchase price. For a used car , a 10% down payment might do. Part of your decision will depend on where your credit score stands.

Is car finance cheaper than bank loan?

As straightforward as personal loans sound, there are plenty of reasons to go for car finance – not least that it’s usually cheaper . Yes, you normally have to pay a deposit, but that means you’ll borrow less money, so your monthly repayments will be lower.

Which is the best way to buy a car?

Using your savings is the cheapest option for buying a car , while personal loans are usually the cheapest way to borrow to buy a car , but only if you have a good credit history. If you have a bad credit score, you might need to choose one of the alternative financing methods to buy a car .

What is the car interest rate today?

The national average for US auto loan interest rates is 5.27% on 60 month loans. Average Interest Rates by Term Length.