11/11/2012

STATE BANK OF INDIA :: INDIA's LARGEST BANK

SBI NEW CAR LOAN SCHEME

SBI provide the best car loan scheme for you. Salient features:

No Advance EMI Longest repayment tenure (7 years) Lowest interest rates Lowest EMI LTV 85% of 'On Road Price' of car (includes registration, insurance and cost of accessories worth Rs 25000), 90% in case of Corporate Salary Package accounts Interest Calculated on Daily Reducing Balance Flexibility of payment of EMI anytime during the month No pre-payment penalty Free Accident insurance Optional SBI Life cover Overdraft facility available

Purpose For purchase of new passenger cars, Multi Utility Vehicles (MUVs) and SUVs. Eligibility To avail an SBI Car Loan, you should be :

Individual between the age of 21-65 years of age. Regular employee of State / Central Government, Public Sector Undertaking, Private company or a reputed establishment. Professionals, self-employed, businessmen, proprietary/partnership firms who is an income tax assessee. Person engaged in Agricultural and allied activities. Net Annual Income Rs. 2,50,000/- and above.

Loan Amount There is no upper limit for the amount of a car loan. A maximum loan amount of 48 times of Net Monthly Income or 4 times of Net Annual Income can be sanctioned. Documents Required You would need to submit the following documents along with the completed application form: 1. 2. 3. 4. 5. 6. Statement of Bank account of the borrower for last 6 months. 2 passport size photographs of borrower(s). A copy of passport /voters ID card/PAN card. Proof of residence. Latest salary-slip showing all deductions I.T. Returns/Form 16: 2 years for salaried employees and 2 years for professional/self-employed/businessmen duly accepted by the ITO wherever applicable
1/2

https://www.sbi.co.in/user.htm?action=print_section&lang=0&id=0,1,20,117,932

11/11/2012

STATE BANK OF INDIA :: INDIA's LARGEST BANK

7.

Proof of official address for non-salaried individuals

Margin 15% of the on road price (which includes vehicle registration charges, insurance, onetime road tax and accessories). Repayment You can enjoy the longest repayment period in the industry with us as long as 84 months. Reimbursement of costs of car purchased by own sources We also reimburse finance for the cars purchased out of own funds which are not more than 3 month old at rate of interest applicable to New Car. Interest Click here to view the interest rates Processing Fee 0.255% of loan amount, minimum Rs. 510/-, maximum Rs. 5100/(Till 31.12.12) Security As per Bank's extant instructions.

C opyright State Bank of India.

https://www.sbi.co.in/user.htm?action=print_section&lang=0&id=0,1,20,117,932

2/2