News About SBI Car Loan

• Suzuki Sport to be meet launch date set for October

  Posted on 11th August 2017

  
  

  Japanese manufacturer, Suzuki, will soon officially launch the all new Swift Sport. The launch is set to happen at the 67th IAA Frankurt Motor Show. The new model comes with a number of impressive new features like all new interiors, a powerful engine to power the vehicle, and black housing to take care of any problems that could arise with fog. The Swift Sport comes with 17-inch alloy wheels and an all new, slick looking diffuser along with chrome-tipped exhaust ends. The cabin of the car is styled to a fiery red and black overtone which exudes a sense of sportiness. The new Swift Sport will be launched in October this year.

  

• 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.

  

• Honda Opens Bookings for the New Cross-Hatch Model WR-V

  Posted on 9th March 2017

  
  

  Honda announced that it has opened bookings for the new cross-hatch WR-V from today. The car can be booked at any of the Honda dealerships in the country for Rs.21,000. The actual sales will begin from March 16th. The crossover has some of the features of Honda Jazz and it’s powered by the same 90PS 1.2 litre petrol and 100PS 1.5 litre diesel engines. However, the WR-V has some basic differences, such as a slightly raise ground clearance, a sunroof, and an updated infotainment system.

  

• Maruti Launches the Limited Edition of Swift Dzire

  Posted on 7th February 2016

  
  

  Maruti Suzuki has launched the ‘Allure’ edition of Swift Dzire, giving it a slightly new appearance, both on its interior and exterior. Swift Dzire has been one of the leading models of Maruti in terms of sales. The new Swift Dzire comes as a limited edition and has additional accessories than the current one. Allure edition is available is six colors and it has not been modified mechanically. It continues with the 1.2 litre K-series VVT petrol engine and 1.3 litre. The new model features side skirts, bumper protectors, a front center armrest, and door sill guards. A Nertz infotainment system is something that customers can opt as an additional feature.

  

• ‘Hope Loans’ from SBI at lower interest rates

  Posted on 24th October 2016

  
  

  State Bank of India launched a special financing scheme for customers who want to avail loans at lower interest rates. Home Loans from SBI will be offered at reduced rates owing to the drop in the MCLR (Marginal Cost of Lending Rate). This drop in MCLR will bring down the effective interest rate for home loans for women to 9.25%, and 9.30% for men. While the interest rate for auto loans would drop to 9.65%. Apart from the reduction in interest rates of SBI car loan, the processing fee has also been waived.

  SBI has announced that for all auto, home, and personal loans granted till 31st December, 2016, the bank will make a generous monetary contribution to recognised NGOs, associated with education, health, shelter, and environment of the country. Through Hope Loans, SBI intends to boost the confidence of the customers in associating with SBI to bring hope for the underprivileged.

  

• SBI Will Soon Launch New Loan Schemes For 7th Pay Commission Beneficiaries

  Posted on 26th September 2015

  
  

  While the Central Government is planning to implement the 7th pay commission on wage hike, State Bank of India has swiftly moved to grab the opportunity to attract the beneficiaries with their new loan schemes. Many automobile companies like Maruti and Hyundai feel that the wage hike will increase the repaying capacity of the beneficiaries and automobile loans will boost sales. Banks are targeting the funds which will be released by the government towards wage hike which is about Rs. 85,000 Crore. SBI Shaurya scheme which will now allow the beneficiaries to avail home and car loans at low interest rates. Under this scheme, the borrower can pay higher equated monthly instalments while they are in service and reduces the EMI amount post-retirement. SBI Managing Director, Rajnish Kumar stated that they will be launching SBI privilege scheme for non-defence government employees with reduced interest rate. He confirmed that the age limit of the borrowers is increased from 70 to 75 years and the interest rate will be 10 bps lower. The maximum loan tenure remains 30 years. The Chairman of SBI, Arundhati Bhattacharya, stated that the bank will also focus on mobilizing the deposits.

  

• Lenders geared to introduce policies to tap pay commission jackpot

  Posted on 25th August 2015

  
  

  SBI BSE 3.21 percent, India’s biggest public bank as well as its major competitors are all geared to unveil financial initiatives to encourage public and defense staffs for better August remunerations to take loans/advances and use it to purchase vehicles or properties. PNB BSE 0.86 percent is also in the playground to utilize the salary hike season to their benefit. SBI has already slackened the eligibility criteria by making the age bar a bit more flexible by increasing it by 5 years. They have also done away with prepayment penalties and also brought down the rates considerably.

  

• SBI Among The First To Slash Retail Loan Rates

  Posted on 11th May 2016

  
  

  State Bank of India, the nation’s leading banking institution has taken the lead in the race to slash interest rates. The bank has announced a 0.05% drop in interest rates for all its retail loan products, namely personal loans, education loans, home loans and car loans. The revised rates of interest will be applicable from May 1, 2016. Following this move, SBI currently offers the cheapest retail loans in the country at the moment.

  This cut in loan interest rates has taken place as a result of the drop in the Marginal Cost-based Lending Rate or MCLR for 1 year. All retail loans are associated to the MCLR which also dropped from 9.20% (in April) and is currently set at 9.15%, effective from May 1 onwards.

  Following the rate cut, SBI offers lowered interest rates for its various loan products. Home loans, under the general category, will now be available to women at the rate of 9.35% and at the rate of 9.40% for men. Personal loans will be offered at revised interest rates ranging from 12.55% to 16.65%, while education loans will be offered at an interest of 11.15% (for loans up to Rs 7.5 lakh) and at 10.85% (for loans above Rs 7.5 lakh).

  In the auto loans segment, SBI has shown considerable growth, by 22%, from the last year. Following the rate cut, auto loans will also be cheaper by 0.05% and are now being offered at a revised rate of 9.60% for women and at 9.65% for borrowers in the general category. For super bike enthusiasts, SBI has introduced a special super bike loan scheme with interest rates fixed at 12.15%.

  However, the processing fee for these loans will range between Rs 5,400 to Rs 17,800. For the rest of the car loan segments, processing fee has earlier been waived off but will now be applicable once again, at the rate of 2% of the loan amount of Rs 500. The EMI for a 7 year new car loan has been fixed at Rs 1647 for borrowers in the general category and at Rs 1645 for women borrowers.