SBI Car Loan: Affordable Rates and Attractive EMI Options

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May 6, 2024 - 6:49 AM

SBI Car Loan: Nowadays people prefer to run on four-wheelers instead of two-wheelers. If you also want to join this pace, then this news is special for you.

With SBI Car Loan, you can easily buy your dream car and show off your speed on the roads.

Low interest rates, easy EMIs, and no premium charges – SBI Car Loan makes buying a car extremely easy for you.

Key Features of SBI Car Loan:

Low interest rates: SBI offers car loans at low interest rates starting from 8.85%.
Easy EMI: You can choose EMI as per your convenience for a tenure up to 7 years.
No Premium Charge: SBI does not charge any premium.
No foreclosure charge after 2 years: No foreclosure charge will have to be paid after 2 years.
Quick loan approval: SBI offers quick loan approval so that you can drive your car as soon as possible.
Simple Application Process: Applying for an SBI car loan is easy and convenient.

SBI Car Loan EMI Calculator:

SBI Car Loan EMI Calculator helps you know what your EMI will be.

Example:

Suppose you take a car loan of Rs 8 lakh for a tenure of 5 years at 8.85% interest rate.

In this case, your monthly EMI will be ₹16,549 and you will have to pay a total of ₹1,92,910 as interest.

Thus, you will have to pay a total of ₹9,92,910.

Eligibility for SBI Car Loan:

The age of the applicant should be between 21 years to 70 years.
The applicant should have a good CIBIL score.
The applicant’s income should be sufficient to repay the loan.
The applicant must have the required documents.

How to apply for SBI car loan:

You can apply for SBI car loan by visiting the official website of SBI or any SBI branch.
To apply online, you need to visit the SBI website and go to the “Car Loan” section.
You have to fill the required information and upload the required documents.
Once you submit your application, SBI will evaluate your application and inform you about loan approval or rejection.