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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  • Car Loan Reviews

    • State Bank of Hyderabad Car Loan
      "Very good service"
      0.5 4.0/5 "Great!"
      The car showrooms itself has the better bank partners , which links with the best loan amount with the better bank. Likewise I got the car loan with State Bank of Hyderabad. They have disbursed my car loan within 3 to 4 days of time. The rate of interest was negotiable with SBH and they have offered me the car loan with 8.5% interest rate. The fore closure option available with SBH bank car loan. I am happy about the loan amount and satisfied with the service.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jul 05, 2017
    • State Bank of Hyderabad Car Loan
      "Good Process"
      0.5 5.0/5 "Blown Away!"
      State bank of Hyderabad done with the car loan process within a day. The interest rate is around 9%-9.5% which is satisfactory. They were good in response and they processed the loan without any hassles. The entire loan process went good.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 03, 2017
    • State Bank of Hyderabad Car Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      Five years back I had taken the car loan from State Bank of Hyderabad. I almost completed 5 yrs and 2 more years to go. Interest rate for the loan was 8% at that time I believe. I directly approached SBH for the loan and everything went smooth with them. I had no issues with the bank for the loan.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 12, 2017
    • State Bank of Hyderabad Car Loan
      "Satisfied"
      0.5 5.0/5 "Blown Away!"
      The process at SBH has been smooth for the car loan. The response is good in the collection of my documents and the services has been perfect till the disbursement. They offered me a good interest rate and the processing charges was also normal. In all no hassles faced.
      Was this review helpful? 0
      , nasik
      Reviewed on Apr 18, 2017
    • State Bank of Hyderabad Car Loan
      "Nice service"
      0.5 4.0/5 "Great!"
      State Bank of Hyderabad is my existing bank for my savings account. Hence I applied for a car loan with them. I got a good response from them on my loan and I had submitted all the required documents with them. It is under process, so far no issues with them, the process is going smooth.
      Was this review helpful? 0
      , nanded
      Reviewed on Apr 07, 2017
    • State Bank of Hyderabad Car Loan
      "Hassle Free"
      0.5 5.0/5 "Blown Away!"
      I took the car loan during the year 2010, at the time SBH offered me 9% of floating interest it was high. Now my car loan got without any hassles even I got my NOC letter from the bank. Now SBI is taking initiative for all SBH products, I hope SBH is now better but it was a good experience with them for the car loan.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 27, 2017
    • State Bank of Hyderabad Car Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I took car loan with the State Bank of Hyderabad and the interest rate is around 6.5% as of now, which they have reduced. The loan amount got disbursed to my account very immediately like it got sanctioned within a day of time but processing time took around one week of time.
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      , chennai
      Reviewed on Mar 14, 2017
    • State Bank of Hyderabad Car Loan
      "Its Good"
      0.5 5.0/5 "Blown Away!"
      I have taken car loan from SBH, My Maruthi showroom dealer have suggested me to process with them, SBH done a great job within a day they approved the loan and disbursed the amount of Rs.3.6 Lakhs to the dealer and I did not face any issues on ECS Payment, its convenient to make my EMI through auto debit.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Mar 09, 2017
    • State Bank of Hyderabad Car Loan
      "Very Friendly Banking"
      0.5 5.0/5 "Blown Away!"
      Renault showroom got tie up with SBH, They have suggested me for the car loan. I processed with them, Bank manager came to my place and collected my documents and done the disbursement with the least interest rate of 9.2% and without processing fee. SBH taken only stamp duty charges of Rs.1600. Totally its a good experience with SBH for the car loan.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 25, 2017
    • State Bank of Hyderabad Car Loan
      "High speed process"
      0.5 5.0/5 "Blown Away!"
      I was taken my car loan with SBH. They has taken only 45 mins for my loan approval. Documentation process also simple, they asked only PAN Card. My loan amount was 5.5 lacs with years tenure. The Interest rate was less 9.25%, also there was no processing fees. So I was very happy with their services.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Feb 02, 2017
    • State Bank of Hyderabad Car Loan
      "Instant car loan"
      0.5 5.0/5 "Blown Away!"
      SBH car loan process was very easy and quick. Its hassle free and even it is funny to disclose that they did not ask me for the pan card later they realized that pan card is missing and they had politely asked me for the pan card through mail.More than all, Hypothetication is there in my name in RC book, rather it should be have been on the Bank's name.
      Was this review helpful? 1
      , new delhi
      Reviewed on Dec 20, 2016
    • State Bank of Hyderabad Car Loan
      "Fine"
      0.5 3.5/5 "Pretty good"
      Getting a car loan from SBH, was very simple and it was an easy task too. The process was very straight, I received good guidance from their executives. The bank asked me only the major papers for processing the loan. Moreover, there were no hidden charges which is involved.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 11, 2016
    • State Bank of Hyderabad Car Loan
      "Good response"
      0.5 5.0/5 "Blown Away!"
      I got the car loan with State bank of Hyderabad and the interest rate was nominal one with them. Within a day of time the loan amount got disbursed and I do have every documents in proper manner, so immediately loan amount got sanctioned.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 28, 2016
    • State Bank of Hyderabad Car Loan
      "Wonderful"
      0.5 5.0/5 "Blown Away!"
      I got car loan with State Bank of Hyderabad and the interest rate was nominal one with them. The loan amount got disbursed to my account within a week of time. Processing charges were very minimal with them and the documentation process are good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 25, 2016
    • State Bank of Hyderabad Car Loan
      "Good service "
      0.5 5.0/5 "Blown Away!"
      Faster service was provided by SBH for getting the car loan processed.They have taken 2hours of time for processing.They have collected all the required documents for the processing.The rate offered was around 9.87% for the car loan.They have applied very less charges for processing.
      Was this review helpful? 0
      , warangal
      Reviewed on Jun 01, 2016
    • State Bank of Hyderabad Car Loan
      "Quick"
      0.5 4.5/5 "Excellent!"
      State bank of Hyderabad disbursed my car loan within three to four days, it was a quick approval because the showroom dealer took care of all the process. There was no processing fee for the loan which was the best part. They sanctioned 85%-90% of the loan amount.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 09, 2016
    • State Bank of Hyderabad Car Loan
      "Quick response but could revise rates"
      0.5 5.0/5 "Blown Away!"
      It was during the year 2012 I had taken a car loan from State Bank of Hyderabad for the Ford Figo. As I am their customer for about 14 years, I get a very good response and customer service. The rate of interest charged was 11% which is high according to me its better than other banks. The loan was sanctioned in the evening and it was a very quick and easy loan process.
      Was this review helpful? 0
      , vijayawada
      Reviewed on May 09, 2016
    • State Bank of Hyderabad Car Loan
      "Very nice experience and good offers"
      0.5 5.0/5 "Blown Away!"
      I recently took a car loan with State Bank of Hyderabad. They had some good offers going on. I got an interest rate of 9.9% and they did not charge me any processing fee. The loan tenure is for 7 years. The loan process and documentation was pretty smooth and the disbursal took about a week.
      Was this review helpful? 1
      , bangalore
      Reviewed on Mar 31, 2016
    • State Bank of Hyderabad Car Loan
      "Lot of formalities!"
      0.5 3.0/5 "Satisfactory"
      State bank of Hyderabad is following lot of formalities in disbursing the car loan. They are not responding to the customers properly. Along with that, they deducted some charges while disbursal. I would suggest them to provide information about the hidden charges in prior to the applicants.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 08, 2016
    • State Bank of Hyderabad Car Loan
      "Very responsive..."
      0.5 5.0/5 "Blown Away!"
      Compare to all SBH is good in terms charges. I got very good deal from SBH. I have taken a car loan from them. I faced lots of problem even though they resolved my all quires. I got my loan amount within 3 working days. They were very responsive even I got support from their Manager end.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 29, 2016
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    State Bank of Hyderabad (SBH) Car Loan Interest Rates is Rated as "Blown Away!" by 65 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Car Loan BYTES FROM OUR KITCHEN

    State Bank of Hyderabad (SBH) Car Loan Interest Rates

    Overview About State Bank of Hyderabad Car Loan

    A car is a dream for many as it is not only a convenient mode of transport, but also translates to a status symbol. Make that dream a reality with the State Bank of Hyderabad car loan which offers different schemes to suit different customers. For the purchase of a new vehicle, SBH offers the Utsav Car Loan scheme where customers can get attractive loan terms to buy new passenger vehicles that include jeeps, MUVs and SUVs. For used vehicles , customers can avail of term loans with floating rates on interest that are linked to the base rate. Get lower interest rates on cars below 3 years old. Loans will be given for cars that are not more than 5 years old, but only on providing original registration books. Existing home loan customers can avail of a car loan on better terms and interest rates!


    Apply for Car Loan Online

    State Bank of Hyderabad Car Loan Interest Rates

    Type of loan Effective interest rate
    New car 9.25% p.a.
    Used car less than 3 years 15.55% p.a.
    Used car 3 - 5 years old 15.80%
    For existing home loan customers 9.90% p.a.

    Related charges and information

    Processing fee 0.25% of the loan sanctioned, subject to a minimum of Rs. 500 and a maximum Rs. 5,000.
    Penalty on overdue EMI 2% p.a. on the overdue amount
    Prepayment penalty Nil
    Maximum loan tenure 84 months

    How to Calculate Interest Rate on my SBH Car Loan

    Calculating just about anything is now a breeze with our developments in technology. To calculate the details of your loan that include EMI amount, interest payable, total loan amount payable and so on, use the online EMI calculators that are free and available to everyone.

    • On BankBazaar.com, access the menu tab on the right.
    • Click on Finance Tools to find the EMI calculator.
    • Provide the details of your potential loan as specified such as your loan amount, interest rate and processing fees.
    • Once you hit “calculate”, all the details of your loan will be provide to you in a simple format.
    • You also receive an amortization schedule which gives you a monthly breakdown of your loan.

    If you’d like to calculate your EMI manually, you can use the following formula:

    (Principal) X (Interest rate per month) X (1+Interest rate per month) to the power of loan tenure

    [(1+Interest rate per month) to the power of loan tenure – 1]

    This condenses down to E = P*r*[(1+r)^n/(1+r)^n-1)]

    Where:

    E = EMI

    P = Principal amount

    R = Rate of interest per month

    N = Number of years

    For instance, if you take a car loan from SBH for Rs. 7.5 lakhs for 4 years, the rate of interest is 9.25%. The processing fee charged is 0.25%.

    SBH Car loan Interest Rate for New Borrowers

    9.25% (Base Rate) + 0.20% = 9.45% (effective rate)

    According to the calculator, your loan details are as follows:

    EMI = Rs. 19,004

    Interest payable = Rs. 1,62,189

    Processing charges = Rs. 1,875

    Total amount payable = Rs. 9,14,064

    Amortization schedule

    An amortization is a handy table that depicts the whole loan on a monthly basis from start to finish. It gives you a detailed breakdown of the components in each EMI.

    The following table is based on an SBH loan taken for Rs. 7.5 lakhs for a period of 4 years at 9.95% p.a., sanctioned in October 2016.

    Year Principal Paid Interest Paid Total Payment Outstanding loan balance
    2015 Rs. 38,674 Rs. 18,338 Rs. 57,012 Rs. 7,11,326
    2016 Rs. 1,64,646 Rs.63,402 Rs. 2,28,048 Rs. 5,46,681
    2017 Rs. 1,81,794 Rs. 46,253 Rs. 2,28,047 Rs. 3,64,886
    2018 Rs. 2,00,731 Rs. 27,316 Rs. 2,28,047 Rs. 1,64,155
    2019 Rs. 1,64,155 Rs. 6,880 Rs. 1,71,035 Rs. 0

    Factors affecting SBH Car Loan Interest Rates

    Income - To avail of an SBH loan to buy a new car, the bank requires you to be earning at least Rs. 3 lakhs per annum. For the self-employed, professional and agriculturists its higher at Rs. 4 lakhs per annum. This is so that the bank is assured that you can handle the loan and its repayment. If you’re looking to purchase a second hand vehicle, you need to show at least Rs. 2.5 lakhs annual income. If you are unable to show proof of enough income as required by the bank, you may face a rejection on your loan. If you secure a loan falling shorter of the eligible income, the bank could impose higher interest rates and stricter terms as you may be a risky customer.

    Debt-to-income ratio – Holding debt already impacts your current loan application negatively. If you are already in debt, this means your income is already being hit by the current EMIs and other credit repayments. This factors into your debt to income ratio and will have an effect on your eligible loan amount and interest rates. You may also want to extend your loan tenure to bring down the EMI amount. This results in more interest being paid in total.

    Credit Score – Credit scores in India are handled by CIBIL. Maintaining a good credit score will put you in a favourable position when it comes to loans. You will have some authority to bargain with banks for better interest rates, repayment tenures and loan amounts. On the other hand, a low score will give the banks complete power to determine your loan criteria. You may face higher interest rates as your score is low and you do not have much creditworthiness to your name.

    Down Payment – A big down payment will put you in a good position with the banks. This is because when you make a large down payment on your car, the total loan amount will be reduced. You will owe the bank a lesser amount of money when you purchase your car. This means the risk of the bank comes down. This could work in your favor and increase your bargaining power. Banks will find you to be a positive customer and will be relaxed in loaning you money.

    How CIBIL scores affect SBH Car Loan Interest rates

    CIBIL scores are a reflection of the credit history of every customer who has availed of credit from banks or financial institutions. CIBIL stands for the Credit Information Bureau of India Limited. Your CIBIL score has a direct impact on your loan. Your approval or rejection on a car loan from SBH will depend on your credit score. If you have a low score, banks will not want to give you a loan. If they do give you a loan to buy a car, since the vehicle will be hypothecated, your terms and interest rate may be higher. The banks will have little or no trust in you, and therefore charge you a higher rate of interest as your a risk for them. On the other hand, a good or excellent credit score will allow banks to be more relaxed in knowing that you will pay back your loan. Your loan process will become easier and more over, you can request your bank to consider better terms, loan amount, tenure and interest rates on your loan.

    Tips on State Bank of Hyderabad Car Loan Interest Rates

    • SBH interest rates on car loans are quite low compared to other banks.
    • For the purchase of a new car, the loan comes with an interest rate of 9.95% which is only 20 basis points above the base rate of 9.75%.
    • Interest rates on used car loans are always higher. However, SBH requires you to show only Rs. 2.5 lakhs as minimum net income earned in a year.
    • On used cars, research and check out the car well before applying for a loan. A car that is below 3 years old and in good working condition is more favorable to banks.
    • You can check your credit score on the CIBIL website before applying for a loan. This way you will know what position you have in requesting for better terms on your loan.
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