You can track the status of car loan availed from State Bank of India (SBI) online on its official website, visiting the nearest branch of the bank, and by calling the customer care number. SBI offers car loans at interest rates starting from 9% to be repaid in a maximum of 7 years. Up to 90% of the car’s on-road price can be availed as a car loan from SBI.
Whether you apply for SBI car loan online or offline, you will receive an application reference number. This reference number is necessary to track the status of your SBI car loan application. With this reference number, you can check the status by any of the below-given ways:
Let us discuss all the 3 ways of tracking the status of SBI car loan in detail below:
The online method of tracking the status of your SBI car loan application is convenient, quick, and can be done anytime, anywhere provided you have an internet connection. To track the status of your SBI car loan online, you can follow the below-given instructions:
Customers who prefer the human touch can opt for the offline method of tracking the SBI car loan status. This method will require you to walk-in to the nearest branch of SBI and give your loan application reference to the bank officials who will find out the status and reveal it to you. To find your nearest SBI branch, you can visit the link - https://www.sbi.co.in/portal/web/home/branch-locator
The status of SBI car loan application status can also be tracked by calling SBI’s 24/7 toll-free numbers – 1800 11 2211 and 1800 425 3800. These numbers are accessible from all mobile phones and landlines in the country. Once you call these numbers and provide them with your application reference number, the customer care representatives will let you know your SBI car loan status.
SBI offers 4 types of car loans and they have been given below:
Answer: Yes. You will be required to pay the processing fee upfront when you apply for an SBI car loan. However, as part of festive season offer, SBI has waived off the processing fee for borrowers who avail the loan before 31st October 2019.
Answer: Under the SBI Car Loan Lite Scheme, you can avail a car loan despite your low credit score. However, you will be charged a slightly higher interest rate. For a credit score falling in the range between 650 and 749, the current interest rate is 12.25% p.a. If you wish to avail SBI car loans at lower interest rates, it is recommended that you maintain a credit score of at least 750.
Answer: You can check your eligibility for SBI car loan and You can also visit the bank’s branch to know your eligibility for a car loan.
Answer: Yes, you can visit any branch of SBI to apply for a car loan. Ensure that you carry the relevant documents when you visit the bank.
Answer: There are multiple reasons as to why your SBI car loan application may be rejected, some of them being poor debt record, lack of steady income, unclear or incorrect information provided, and request for a high loan amount.
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