SBI Car Loan: If you are thinking of buying a car in the coming time, but your budget is less. So you can take help of car loan. The country’s largest bank State Bank of India (SBI) is providing car loan at the lowest interest rate. With this, you can also apply for a car loan online sitting at home. The bank also offers customized car loans for customers like regular car loan, certified pre-owned car loan, SBI loyalty car loan for existing home loan holders, assured car loan scheme for existing term deposit customers and green for electric cars. Car loan is available.
Rate of interest
- SBI car loan is available at an interest rate of 7.75 per cent.
- If you apply through YONO, you get a special interest discount of 25 basis points. That is, the interest rate becomes 7.50 percent.
Car loan tenure
The tenure of SBI car loan is three to seven years.
Eligibility
Anyone in the age group of 21 to 67 years can apply for SBI Car Loan.
FEATURES AND BENEFITS
- Lowest interest rate and EMI
- Longest Repayment Period
- zero processing charge
- Financing at on-road price. The on road price includes registration and insurance. Financing is available up to 90% on the on road price.
- The interest rate is calculated on the daily decreasing balance.
- New passenger cars, multi utility vehicles and SUVs are allowed to be bought.
No-advance EMI.
How to apply online through YONO
- Firstly, log in to your YONO account.
- On the home page, click on Menu (three lines) on the far left.
- Then click on Loans.
- Then click on Car Loan.
- Now check your eligibility.
- Request for a loan by giving some details.
- Enter the amount.
- Fill the application form and upload the required documents.
- At last, click on submit
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