If you really think about it, it's easier getting a loan for a car than a loan for bus fare!
If you really think about it, it's easier getting a loan for a car than a loan for bus fare!
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    We found 2 SBI Car Loan
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    SPECIAL OFFER FOR WOMEN
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    SBI Car Loan is Rated as "Excellent!" by 1145 Users

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    SBI Car Loan

    SBI Bank is actively involved since 1973 in non-profit activity called Community Services Banking. All their branches and administrative offices throughout the country sponsor and participate in large number of welfare activities and social causes. Their business is more than banking because they touch the lives of people anywhere in many ways. Their commitment to nation-building is complete & comprehensive. SBI provide the best car loan scheme for you. Read on to learn about the eligibility and documentation requirements for the SBI Car Loan.


    You’re probably eligible for an SBI Car Loan if you are

    01
    02
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    SBI Car Loan Minimum Age

    At least 21 years old

    SBI Car Loan Maximum Age

    Less than 65 years old

    SBI Car Loan Eligible Employment Type

    Salaried or self-employed
    with regular income

    SBI Car Loan Minimum Income

    Earn more than the minimum
    income required


    Your SBI Car Loan amount eligibility is based on these factors

    01
    02
    03
    SBI Car Loan Minimum Salary

    Minimum income required
    Rs.2,50,000 per annum

    SBI Car Loan Maximum Loan to Value

    Loan capped @
    85% of the ex-showroom price

    SBI Car Loan EMI

    EMIs of other loans lower
    your eligibility


    Increase your eligible SBI Car Loan amount by these steps

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    02
    SBI Car Loan Payoff Outstanding Credit Card Bills

    Pay off your credit card bills

    SBI Car Loan Maximum Tenure

    Choose longer tenure loan up to 7 years


    Documentation needed to apply for an SBI Car Loan

    • 1. Residence proof
    • 2. Photo ID and age proof
    • 3. Signed application form with photograph
    • 4. Last 6 months bank statement
    • 5. Documentation for salaried applicants:
      • Last 3 months salary – slips
      • Form 16 or Income Tax Returns
    • 6. Documentation for self-employed applicants:

      • Last 3 years Income Tax Returns with computation of Income
      • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

    SBI Car Loan Interest RatesUpdated on 16 Dec 2017

    SBI Car Loan Details
    Interest Rate Men : 9.10% Women : 9.05%
    Processing Fees Nil
    Pre Closure Charges Nil
    Loan Tenure 1 year to 7 years

    Overview About SBI Car Loans

    State Bank of India, a Fortune 500 company is one of the oldest financial establishments in India with services ranging from personal banking, NRI services, corporate banking to agricultural banking. SBI’s commitment to the society and its contributions towards nation building have earned recognition and rewards from across the globe. SBI has also evolved and adapted itself with the changing dynamics of technology and has become a leader in providing innovative banking solutions to its clientele. State Bank of India offers exciting car loan schemes with competitive interest rates, flexible repayment options and the longest loan tenure in the industry.

    Apply for Car Loan Online

    Why choose a SBI Car Loan?

    State Bank of India provides car loans to every segment of the population namely salaried professionals, self-employed professionals, partnership firms and agriculturists. SBI Car Loans are provided for multi utility vehicles, new passenger cars and SUVs. With such a wide variety of options, the SBI car loan scheme becomes a natural choice for an applicant wanting to buy a car of his/her choice.

    Features of SBI Car Loan

    State Bank of India provides one of the best car loans in India with a wide range of benefits. Customers opting for a SBI car loan can expect great value and return on their investment.

    Key features of a State Bank of India car loan are given below.

    • The State Bank of India car loan comes with no hassles regarding EMIs and gives a customer the lowest EMI payment option possible. The added advantage is that a customer does not have to pay any advanced EMI while availing a SBI car loan. Customers also have the flexibility of opting to pay their EMIs at any time during the month.
    • The interest rates offered are also the lowest ranging from 9.20% - 9.25% . The interest rate is calculated for a borrower based on the daily reducing balance.
    • SBI offers the longest repayment tenure with customers selecting periods of up to seven years (84 months) for repayment of their car loans.
    • State Bank of India does not charge any penalty for pre closure of a car loan.
    • The bank charges a processing fee of 0.51% of the loan amount, with a minimum requirement of Rs 1020/- up to a maximum of Rs 10200/-.
    • Customers availing a SBI car loan can also enjoy the benefit of an additional SBI life insurance cover.
    • The loan margin allowed by SBI for borrowers with a net annual income of up to Rs 10 lakhs is 15% of the on-road price of the car. For customers with a net annual income of more than Rs 10 lakhs, the loan margin is around 15% on the ex-showroom price or 20% on the on-road price of the car.
    • An overdraft facility is also available with SBI for borrowers.

    Perfect Car Loan Deals for you

    Apply for a SBI Car Loan on BankBazaar.com

    Customers can apply for a SBI car loan on Bankbazaar.com without any hassles in a simple process. Anyone looking to apply should follow the below given steps to finish their application process.

    • On the Bankbazaar home page, access the navigational menu located at the top of the page. A separate section for loans is available here. A customer should open up the loans drop down menu and select car loans as his/her desired option. Under the car loan feature, the entire list of banks offering car loans have been listed. Here, choose the link which reads as SBI car loan. This link will lead you to the SBI car loan webpage which will feature the next steps to be taken.
    • On the SBI car loan page, customers can find details on State Bank of India, check their eligibility criteria for loans, search for the different types of car loans that SBI offers, get the SBI car loan amount eligibility, tips to improve their eligibility and also the required documentation to be submitted while applying for a SBI car loan.
    • Customers can easily apply for a SBI car loan on this page using the ‘Apply now’ feature after checking all the eligibility criteria.
    • After submitting an application online, customers will receive an instant e-approval from Bankbazaar. Then the application will be transferred to the State Bank of India for further processing and a bank executive will get in touch with the customer within a short period of time. Customers can also track their applications through SMS alerts and mail.

    SBI Car Loan Interest Rates

    A car loan is sanctioned by a lender to help the borrower purchase the car of their dreams. There are a number of banks that provide car loans at attractive rates. State Bank of India has a number of great deals when it comes to car loans which are tailor made to cater to the needs and requirements of the people. Here is a list of loans that have been made available by SBI:

    Loan Scheme Name Time period Interest Rates for Men (p.a.) Interest Rates for Women (p.a.)
    Car loan For the full time period 9.25% 9.20%
    Combo loan scheme For the full time period 9.25% 9.20%
    Certified pre-owned car loan For the full time period 12.65% 12.65%
    NRI Car Loan For the full time period 9.25% 9.20%
    SBI Assured Car For the full time period 9.25% 9.20%
    SBI Loyalty NRI car loan, car loan, combo loan 9.15% 9.10%
    Two-wheeler For the full time period 17.25% 17.25%
    Super Bike For the full time period 11.65% 11.65%

    With rates like these, it is not a tough task to pay back a car loan for any citizen who’s capable of pickup a car.

    SBI follows the system of MCLR (Marginal Cost Based Lending Rate) to determine the applicable interest rate for car loans as per the mandate by RBI. The bank maintains a single slab of interest rate applicable for all term options.

    Note: The above mentioned interest rates are subject to change as per the revised GST rates.

    SBI Marginal Cost Based Lending Rate (MCLR) for New Borrowers
    Benchmark MCLR rate 9.15%
    SBI Car Loan Scheme 9.75% (MCLR + 0.60%)
    SBI Combo Loan Scheme 9.75% (MCLR + 0.60%)
    NRI Loan Scheme 9.75% (MCLR + 0.60%)
    Pre-owned Car Loan 13.15% (MCLR + 4.00%)

    Women borrowers get a concession of 0.05% on the existing rate for all car loans schemes from SBI.

    Note:The MCLR is subject to periodic revision as per bank’s credit policy and RBI’s quarterly reviews. Make sure to confirm with the bank on prevailing rates at the time of applying and choose the terms accordingly.

    SBI Car Loan Eligibility

    • SBI car loans can be easily availed by individuals above the legal age of 21 up to an age of 65 years.
    • Salaried professionals can apply as a single applicant or as co-applicants with a combined net annual income of Rs 3, 00,000/-. State and Central Government employees, Public Sector and Private sector employees qualify as salaried professionals for SBI car loans. The loan amount that will be sanctioned for a salaried employee will be 48 times more than the net monthly income.
    • Self-employed businessmen, proprietary or partnership firms with a net profit or gross taxable income of Rs. 4, 00,000/- per annum are also eligible to apply for a SBI car loan. If there are co-applicants in this case, then the income of the co-applicant can be clubbed with the applicant’s income details. For self-employed professionals, the bank generally sanctions a loan amount up to four times more than the net profit or gross taxable income as per Income Tax Returns (ITR) after the addition of depreciation. The payment pattern of a customer with regards to other loans would also be considered while approving a SBI car loan.
    • SBI also provides car loans for persons involved in agriculture and other allied activities. The net annual income of an applicant and a co-applicant in this case should come up to Rs. 4, 00,000/- for obtaining an approval from the bank. State Bank of India sanctions car loans up to three times more than the net annual income for agricultural applicants.

    While applying for a SBI car loan, customers need to submit the completed application form along with a list of required documents namely – borrower’s bank account statement for the last six months, two passport size photographs, copies of passport or voter’s id or pan card, a proof of residence, latest salary slip for employed professionals and proof of office address for self-employed individuals. IT Returns form and Form 16 for the previous two years are also required for both salaried and self-employed individuals.

    SBI Car Loan EMI Calculator

    The main menu on the Bankbazaar home page contains finance tools which can help a customer calculate the EMI that he/she will be paying while availing a SBI car loan. Our Car Loan EMI calculator is designed to efficiently calculate the SBI EMI payment details in a matter of seconds. Customers have to follow a simple process to instantly calculate their SBI car loan EMIs.

    1. On the main menu, a customer is required to select the ‘Finance Tools’ drop down menu, which opens up to the EMI calculator option. Selecting this link will take you to the Car loan EMI calculator option specifically leading you to the calculator page.
    2. There are separate ruler scales available on the calculator page donating the ranges of the ‘loan amount’ and ‘tenure’ that can be selected by customers.
    3. Customers need to enter a few details to calculate the EMI to be paid for a SBI car loan. The first detail that has to be entered is the required loan amount and the tenure of the SBI car loan taken. The pre-populated values can be changed to suit the customer’s details.
    4. Then the interest rate charged by State Bank of India for car loans has to be entered along with the processing fee charged for SBI car loans. The default value is already populated in the field and can be changed accordingly.
    5. Clicking on ‘calculate’ will give a customer details of his SBI car loan EMI payments along with the breakup of the total interest that will be due.

    On a rare instance, if customers face any issues or problems while navigating through this page, please feel free to get in touch with our customer care team.

    1. How can a customer track his SBI Car Loan application status online?

      Applicants can track their SBI car loan applications made through Bankbazaar by receiving update via SMS to the registered number and mails to the registered email ID. You can also check the SBI car loan application status online through the official website of State Bank of India.

    2. From where can I get the SBI car loan application form?

      Eligible applicants can apply for the SBI car loan online by visiting the official website of State Bank of India or by visiting the Bankbazaar website and filling the SBI car loan online application form.

    3. Can I view my SBI car loan statement online?

      Yes, SBI car loan statements can be viewed online by visiting the SBI online banking portal and logging in to your Net Banking account.

    4. What all costs are covered by the loan margin amount?

      The costs covered using the loan margin amount is the “On-Road” price includes Insurance charges, Registration fees, and Total Service Package, Extended Warranty, Cost of Accessories and/or Annual Maintenance Contract.

    5. What are the foreclosure charges levied on the SBI car loan?

      State Bank of India levies zero penalty fee on the preclosure of car loans.

    6. Is it possible to get a reimbursement from SBI, on the cost of a car purchased using own finance?

      Yes, borrowers are eligible to get a reimbursement of the amount spent by them to finance the purchase of the car, as long as it is a new car or a car which is less than three months old.

    7. How can I get more information related to SBI Car Loans?

      In order to get more information related to SBI car loans, customers can reach out to any branch of State Bank of India or call the dedicated SBI customer care service through the toll-free number which will be available at the Bank’s website or on BankBazaar.

    8. While providing finance based on “on-road” price, what all costs are considered?

      Costs that come under “On-Road” price includes Insurance charges, Registration fees, and Total Service Package/ Extended Warranty/ Cost of Accessories and or Annual Maintenance Contract.

    9. What is the income eligibility criteria for farmers or those involved in agricultural activities to avail the SBI New Car Loan?

      Only farmers or those involved in agricultural activities who have an annual income of at least Rs. 4,00,000. The applicant can also have a co-obligor to the car loan application in order to reach the minimum income criteria.

    10. What is the income eligibility criteria for professionals to avail the SBI New Car Loan?

      Professionals and Businessmen have to earn an annual income of at least Rs. 4,00,000. The applicant can also have a co-obligor to the car loan application in order to reach the minimum income criteria.

    11. What are the income proofs that have to be submitted by salaried applicants?

      Salaried applicants must submit their Form 16 or latest salary slip and latest 2 years’ IT Returns, as income proof.

    12. What are the identity proof documents that have to be submitted by the applicant?

      Identity proof documents that have to be submitted by the applicant are: PAN Card, Passport, Driver’s License, Voter's ID card, etc.

    13. What are the address proof documents that have to be submitted by the applicant?

      Any one of the following documents can be submitted by the applicants, as address proof: Driving License, Passport, Voters ID card, Ration card, Life Insurance policy, Electricity bill or Telephone Bill.

    14. How much finance can you avail on the SBI New Car Loan?

      SBI New Car Loan applicants are eligible to receive 85% of the On-Road price of the vehicle as auto loan.

    15. Are there any special benefits for women availing the car loan schemes from SBI?

      Yes, women can get lower interest rate on the SBI car loan schemes than regular customers. Generally, the rate is .05% lesser than the regular interest rate.

      SBI Car Loan Scheme

      Interest Rate for Female Borrowers

      Interest Rate for Male Borrowers

      SBI Car Loan Scheme

      9.80%

      9.85%

      SBI Combo Loan Scheme

      9.80%

      9.85%

      NRI Car Loan Scheme

      9.80%

      9.85%

      SBI Loyalty Car Loan Scheme

      9.55%

      9.60%

      SBI Nano Youth Car Loan Scheme

      10.05%

      10.10%

    16. What does the SBI Combo Loan Scheme offer?

      With the SBI Combo Loan Scheme, an eligible applicant can avail loans to procure both a car and a two-wheeler for a loan quantum up to 85% of the on-road price of the same.

    17. What is the income eligibility criteria for salaried individuals to avail the SBI Combo Loan Scheme?

      Salaried individuals have to earn an annual income of at least Rs. 3,00,000 to avail the SBI Combo Loan Scheme. The applicant can also have a co-obligor to the car loan application in order to reach the minimum income criteria.

    18. What is the income eligibility criteria for self-employed individuals to avail the SBI Combo Loan Scheme?

      Salaried individuals have to earn an annual income of at least Rs. 4,00,000 to avail the SBI Combo Loan Scheme. The applicant can also have a co-obligor to the car loan application in order to reach the minimum income criteria.

    19. What is the loan quantum that can be availed by a salaried borrower under the SBI Combo Loan Scheme?

      Under the SBI Combo Loan Scheme, a salaried borrower can avail up to 48 times his/her net monthly income as loan amount.

    20. How does CIBIL score affect your SBI car loan application?

      Like all other lenders, SBI also checks the CIBIL score of the applicant while processing his/her car loan application. Only if the CIBIL score is high, the loan application will be approved by the Bank.

    21. What is the maximum tenure for repayment that you can avail on the SBI car loan application?

      The maximum repayment tenure on an SBI car loan is 84 months.

    22. What is the loan margin available on the SBI Combo loan scheme?

      Applicants who earn a Net Annual Income not more than Rs. 10 lakh are eligible for a loan margin of 15% of 'On Road Price' of car. Applicants who earn a Net Annual Income of over Rs. 10 lakh are eligible for a loan margin of 15% of ex-showroom price of car or 20% of "On-road price", whichever is chosen by the borrower.

    23. What is the loan margin available on the SBI Loyalty Car Loan Scheme?

      There is no loan margin applicable on the SBI Loyalty Car Loan Scheme.

    24. I am 20 years old. Can I apply for a car loan under the SBI Loyalty Car Loan Scheme?

      No, you have to be at least 21 years old in order to be eligible for the SBI Loyalty Car Loan Scheme.

    25. What is the minimum income eligibility criteria for the SBI Loyalty Car Loan Scheme?

      The applicant must earn a the minimum income of at least Rs. 2,00,000 in order to fulfill the eligibility criteria for the SBI Loyalty Car Loan Scheme.

    26. What is the maximum repayment period under the SBI Loyalty Car Loan Scheme?

      The maximum repayment period is 7 years under the SBI Loyalty Car Loan Scheme.

    27. Is prepayment penalty levied on foreclosure of the loan under the SBI Loyalty Car Loan Scheme?

      No, there is no penalty on foreclosure of the loan under the SBI Loyalty Car Loan Scheme.

    28. Who can avail a car loan under the SBI Loyalty Car Loan Scheme?

      This scheme is available only to existing SBI home loan borrowers who are self-employed, businessmen, professionals, individuals employed under the central government, state government, corporations, public sector/ private sector, individuals involved in farming and allied activities, etc.

    29. Does SBI offer the provision for life insurance along with the car loan?

      Yes, while applying for an SBI car loan, the applicant can choose to opt for the life insurance plan offered by SBI Life Insurance Company Ltd.

    30. For the takeover of a car loan from another bank (balance transfer), what are the documents to be submitted to SBI?

      For the takeover of a car loan from another bank (balance transfer), the documents to be submitted to SBI are:

      • Original Sanction letter of the lender.
      • Account statement by the lender.
      • RC Book
      • Copy of Insurance.
      • Foreclosure letter.
      • List of documents held by the lender
      • Letter undertaking the issue of NOC by the present lender (financial institution or bank).

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    News About SBI Car Loan

    • New Mercedes-Benz CLS shows off a stylish and sporty design

      Mercedes-Benz CLS third generation is a 4-door coupe that will be launched in the market in March 2018. The new CLS comes with technological upgrades like safety features and engine options. It is equipped with the latest driving assistance systems like the S-Class. The new engine options are a CLS 350 d 4MATIC engine producing 286 bhp and a CLS 400 d 4MATIC producing 340 bhp. A 6-cylinder engine, CLS 450 d 4MATIC producing 367 bhp is available in the petrol variant.

      The new safety features include a Pre-Safe Sound feature which prepares your hearing for accident noise in the event of a collision. This car offers comfort via the Air Body Control suspension. It also has a high-resolution widescreen cockpit. The driver can generate the latest infotainment with the Mercedes-Benz link and the in-car-office smartphone connectivity. The centre console has a touchpad that gives acoustic and haptic feedback when operating different functions.

      7th December 2017

    • Uber plans to launch flying taxi by 2020

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      22nd November 2017

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      Posted on 7th November 2017


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    • Aston Martin DB 11 Volante has been released

      Posted on 16th October 2017


      The 2018 Aston Martin DB 11 Volante is out now in the market. The leading British automobile producer has released the production version of this vehicle.

      This brand new vehicle has a 4.0-liter twin-turbo V8, which is developed by Mercedes-AMG. It generates 695 Nm of torque. It also has a rear-mounted ZF 8-speed automatic transmission. This particular feature enhances the wheels of the vehicle with electric power steering, a carbon-fibre prop shaft, and limited-slip differential that has dynamic torque vectoring.

      The Aston Martin DB 11 Volante is a convertible with a single-piece aluminium bonnet and a fabric hood.

    • Indian car purchasers are gradually buying online

      Posted on 4th October 2017


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      Maruti Suzuki, the largest car manufacturer in India, stated that approximately 8% of sales of Ignis model was successful via the online purchase method.

      Many car manufacturers are introducing new online methods to simplify the process of purchasing car on the internet.

      Renault India released an app known as Kwid that helped in achieving sales of 23,000 units during 2017.

    • Tata Motors to be compliant to the BS-VI emission norms by 2020

      Posted on 1st September 2017


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      Every year, the company spends around Rs.3500 crores for R&D of vehicles amongst which 40% is allocated to commercial vehicles, which is around Rs.1500 crores. In fact the R&D have already started working towards the project and expects to be ready by the end of fourth quarter 2019. The engines will now be designed with Selective Catalytic Reduction (SCR) and Exhaust Gas Recirculation (EGR) technology in compatible with BS-VI norms, where the level of sulphur, nitrous oxide, and carbon monoxide and hydrocarbons will be reduced to great extent. This will help the engines operate at much higher optimal combustion temperature with more power and fuel efficient.

      Tata Motors already enjoys 53.5 % market share in M&HCV category in the country. With technology and electric vehicles rolling out in nearing future, the company is looking forward to expand its foot print in the CV category and dominate the market share with its wide range of products.

    • Suzuki Sport to be meet launch date set for October

      Posted on 11th August 2017


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    • Production Commences for Volkswagen Tiguan, Launch To Happen Soon

      Posted on 11th April 2017


      Volkswagen brings some good news for SUV enthusiasts in India. Reports are in that the German automaker’s Indian division is has already started the production of Volkswagen’s much anticipated Tiguan SUV. The launch of the VW Tiguan, which was first showcased at the Auto Expo 2016, will once again usher Volkswagen into the SUV segment of the Indian automobile market. Production has begun at Volkswagen’s Aurangabad facility in Maharashtra and the launch is expected to happen in the coming few months. The SUV is expected to be priced around the range of Rs 25 lakh and will take on other equally competent rivals such as the Honda CR-V and the Hyundai Tucson.

      The model of the Tiguan which is being produced for India is a second generation model, based on VW's MQB platform. Under the hood, this VW SUV comes fitted with a 2.0-litre diesel engine which delivers 150PS of power and torque at 340Nm. The SUV is also set to feature Volkswagen's '4Motion' all-wheel drive’, 4 driving modes and a 7-speed dual-clutch automatic transmission.

      The international model of the Tiguan comes with multiple safety enhancing features like 7 airbags, Hydraulic Brake Assist, EBD and Anti-braking System. On the exterior, the SUV comes with LED headlamps (with LED DRLs) and alloy wheels. The interiors of the Tiguan feature split folding (40:20:40) rear seats, an 8-inch touchscreen infotainment system, 3-zone climatronic air-conditioning and a panoramic sunroof.

    • Honda Launches WR-V, bookings opened

      Posted on 5th April 2017


      Honda recently launched the Honda WR-V, a cross hatchback based on the Jazz. The car has been priced slightly higher than the Jazz but has the features to back it up. The WR-V is available in two variants powered by either a 1.2l petrol engine (90PS) or a 1.5l diesel engine (100PS). The engines are mated to a 5-speed manual transmission churning out mileage of 17.5 kmpl and 25.5 kmpl respectively. Unfortunately, there is no petrol-CVT variant available.

      The front of the car gets a facelift from the Jazz and has a more sporty look. The wheelbase has been increased by 25mm and the ground clearance has been raised to 188mm. A few bonus features include a sunroof, 16-inch alloys and LED daytime running lamps.

      Bookings for the car have already been opened at dealerships across the country with a price tag of Rs.7 lakh to Rs.10 lakh (ex-showroom).

    • Mercedes To Showcase the AMG GT-based Concept Sedan At Geneva Moto Show

      Posted on 13th March 2017


      Long rumored to be working on a car which derives its inspiration from the AMG GT’s platform, Mercedes recently launched a teaser of their new concept sedan which derives inspiration from AMG GT. The concept sedan will be showcased at the Geneva Motor Show. Designed to appear like a stretched version of the AMG GT coupe, if the GT concept sedan materializes and hits the market, it will be competing against other greats like the Porsche Panamera and the BMW M6 Gran Coupe.

    SBI Car Loan Reviews

    • SBI Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have applied for a car loan with State bank of India.The loan amount is three lakhs,rate of interest is nominal as compered to others.The tenure is for seven years.The monthly EMI is 6000 I had to submit documents to process the request.The loan request processed within 7 days.
      Was this review helpful? 1
      , kochi
      Reviewed on Dec 13, 2017
    • SBI Car Loan
      "Average service"
      0.5 1.0/5 "Really Bad"
      I have taken a Car Loan with State Bank of India.The loan amount is 5 lakhs,tenure is for 5 years.I planned to make a part payments to outstanding amount however its not possible to reduce the EMI whereas they will reduce the tenure,i am not satisfied at all with the service.The customer service is not up to the mark.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Dec 13, 2017
    • SBI Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      The car loan service was good with the State bank of India and I got the car loan around 3 years ago. The customer support is good with the state bank of India. I have got the car loan up to 75% which was helpful, the rate of interest is low with the State bank of India , when compared with others.
      Was this review helpful? 2
      , bangalore
      Reviewed on Dec 12, 2017
    • SBI Car Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I have applied for a car loan with State Bank of India.the loan amount is 4 lakhs,rate of interest is 9.65% nominal as compared to others.The tenure is for one year.I have deducted processing fees of Rs 6000.I have submitted documents,they have processed the loan within 2 weeks.EMI amount is debited from my salary account.
      Was this review helpful? 2
      , ernakulam
      Reviewed on Dec 11, 2017
    • SBI Car Loan
      "Better service"
      0.5 5.0/5 "Blown Away!"
      I have taken car loan from SBI and it was overall a good loan experience with SBI. The loan amount was for Rs 5 lakhs with the rate of interest of 9.70% which is proper rate. The process was quite fast and my loan amount was approved within the given time. Customer service was good and they responded on time. There are no charges on foreclosure and part payment. It was overall a good service from SBI.
      Was this review helpful? 4
      , gurgaon
      Reviewed on Dec 07, 2017
    • SBI Car Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      My car loan experience was good with SBI, the loan amount was for Rs 5 lakhs with the low rate of interest when compared to other banks. The process was quite fast and my loan amount was approved within one day. Customer service was good and they responded on time. Overall it was a good service from SBI.
      Was this review helpful? 1
      , pune
      Reviewed on Dec 07, 2017
    • SBI Car Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I have taken a car loan with State Bank of India.The loan amount is five lakhs.Rate of interest is 9% nominal as compared to other banks.They had processed the loan within 15 days but it was too long documentation process.The EMI is paid through an ECS.
      Was this review helpful? 2
      , bhubaneshwar
      Reviewed on Dec 07, 2017
    • SBI Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      My car loan experience was good with SBI, the loan amount was for Rs 6 lakhs with the rate of interest which is nominal when compared to other private banks. The process was very smooth, it took 3 days for the loan amount to get approved. Customer service was good, they provided door step service to collect the documents and there was a good coordination. My loan amount was approved based on Ex-showroom price and there is no charges on foreclosure and part payment.
      Was this review helpful? 3
      , mumbai
      Reviewed on Dec 06, 2017
    • SBI Car Loan
      "Recommedable"
      0.5 5.0/5 "Blown Away!"
      I got my car loan from State bank of India. The approved loan amount was 3 lakhs. The monthly EMI is 8000 for a tenure of 5 years. But within 9 to 10 months i have closed the car loan with the full amount. The pre closure charges was 1700. Its recommendable to others.
      Was this review helpful? 3
      , new delhi
      Reviewed on Dec 06, 2017
    • SBI Car Loan
      "Very good"
      0.5 5.0/5 "Blown Away!"
      My car loan was taken 2 years back . The loan amount was 5 lakhs and the interest rate was 9-10% which was avergae in the market .the loan process was very easy here and they have sanctioned the loan with in a day of time.Here no processing fee here so My overall experience was very good and I would like to recommend to others.
      Was this review helpful? 4
      , bangalore
      Reviewed on Dec 05, 2017
    • SBI Car Loan
      "Very good"
      0.5 5.0/5 "Blown Away!"
      My car loan was taken 2 years back . The loan amount was 5 lakhs and the interest rate was 9-10% which was avergae in the market .the loan process was very easy here and they have sanctioned the loan with in a day of time.Here no processing fee here so My overall experience was very good and I would like to recommend to others.
      Was this review helpful? 1
      , bangalore
      Reviewed on Dec 05, 2017
    • SBI Car Loan
      "Better"
      0.5 4.0/5 "Great!"
      I have closed the car loan with the State bank of India and the rate of interest was lesser one. They have disbursed the loan amount within a week of time. Everything is fine one with the State bank of India and am really happy with them.
      Was this review helpful? 2
      , ghaziabad
      Reviewed on Dec 04, 2017
    • SBI Car Loan
      "Good Experience"
      0.5 5.0/5 "Blown Away!"
      My car loan is running with SBI currently, they gave me 8.95% for new car loan. I purchased RENAULT brand car worth Rs. 4 .45 lakhs, I took the loan amount of Rs. 3 lakh, remaining I paid as a down payment. They gave me part payment, foreclosure, balance transfer option.
      Was this review helpful? 1
      , faridabad
      Reviewed on Dec 04, 2017
    • SBI Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I am very much happy about the service of sbi car loan service as I already have my salary account with sbi the documents part was very easy and simple also there was a concession in the interest rate they quoted me it was a excellent service from sbi car loan service.
      Was this review helpful? 3
      , pune
      Reviewed on Dec 01, 2017
    • SBI Car Loan
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      It was a good customer service from the STATE BANK OF INDIA as i took a car loan from the bank . the bank gave me 9.45% the rate of interest , floating and i got a full approval on the amount i ashed for .the money got disbursed within 2 working days to the dealer .there was no processing fee charged for the loan . i took the loan in 2015 and it is going on . over experience is good .
      Was this review helpful? 2
      , alwar
      Reviewed on Dec 01, 2017
    • SBI Car Loan
      "Unhappy with the bank"
      0.5 1.0/5 "Really Bad"
      Though I am doing one lakh of transactions at State Bank of India. I was disappointed when I visited the bank for a car loan. The branch manager has not responded well and it was not a good experience. So I went ahead with another bank for this loan.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Nov 27, 2017
    • SBI Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      My car loan experience with SBI was good, the loan amount was for Rs 7.4 lakhs with the rate of interest of 8.5% which is less when compared to other banks. The process was very smooth and the loan amount was approved within the stipulated time. Documents were submitted paper less. Customer service was good and they followed up on time. There are no charges on preclosure and part payment. My loan amount was approved based on the on-road price.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 27, 2017
    • SBI Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      It was a immediate response from sbi for my car loan service ,I use to get regular update regarding my my loan process the documents part was easy. They offered me a interest rate of 8.56 which was comfortable for me it was a excellent experience with sbi car loan service.
      Was this review helpful? 0
      , pune
      Reviewed on Nov 25, 2017
    • SBI Car Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      It was a great experience taking a car loan with SBI, the loan amount was for for Rs 5.4 lakhs with the rate of interest of 8.85% which was the best rate in the market. The process was quite smooth ans easy, it took 4-5 days for the loan amount to get approved. Customer service was good, they provided door step service to collect the documents. My car loan was approved based on the on road price.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 24, 2017
    • SBI Car Loan
      " Good Experience"
      0.5 3.0/5 "Satisfactory"
      SBI is the best option for the loan product, I took the car loan from them. They gave me the interest rate around 8.5%, they have fulfilled my need to purchase my dream car. Processing fee was also nominal, part payment and foreclosure option is available.
      Was this review helpful? 0
      , bhubaneshwar
      Reviewed on Nov 23, 2017
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