State Bank of Hyderabad is an associate bank of State Bank of India (SBI), and is one of the scheduled banks in India. The Bank's head office is situated at Gunfoundry Area, in Hyderabad, India. SBH has over 1,500 branches and about 12,800 employees. It is now the largest Associate Bank of State Bank of India. SBH has 1000 branches in Andhra Pradesh alone, giving it the third largest branch network in the state. The bank has performed well in the past decades, winning several awards for its banking practices. To know more, follow some simple steps given below to get attractive deals.
|Processing Fees||0.25% of the Loan Amount subject to a minimum of Rs. 500/- & a maximum of Rs. 5000/-|
|Pre Closure Charges||Nil|
|Loan Tenure||1 year to 7 years|
|Guarantor Requirement||No Guarantor Required|
State Bank of Hyderabad was established as Hyderabad State Bank in the year 1941. The first branch of the bank was opened at Gunfoundry, Hyderabad in 1942. The bank was taken over by the Reserve Bank of India in 1959 and is now the largest associate of the State Bank of India. State Bank of Hyderabad has over 1600 branches across India. One of the oldest banks in the country, SBH has well adapted itself to the growing needs of its customers. SBH has constantly been one of the top banks in India when it comes to performance and has won several awards like MSME National Award and Best Bank Award that stands as a testimony to the bank’s achievements. SBH excels in areas like SME banking, personal banking, NRI banking services and deposits. All the customers have access to top-notch banking services and technologies like ATM Cards, Net Banking accounts etc.
One of the most sought after financial product in the market, State Bank of Hyderabad car loan comes at attractive interest rates and convenient repayment options. Also, for existing SBH home loan borrowers, car loan can be availed easily without any processing charges using SBH’s special scheme called ‘’Car loan with home loan’’. SBH offers repayment tenures up to 7 years and the interest is calculated on a daily reducing basis. Another attractive feature is no advance EMIs – the borrower need not pay any EMI before using the car. With a lot of add-on benefits, SBH car loan is the best option for people planning to buy a car.
SBH car loan – “Smart Car II”, can be availed by various segments of people like salaried professionals, MSME’s, agriculturists and self-employed professionals. SBH car loans can be used to purchase new cars, jeeps, MUV’s & SUV’s. SBH also offers financing for used cars. With such plethora of options, SBH car loan becomes the natural choice for individuals looking to purchase their dream cars.
State Bank of Hyderabad car loans are designed for providing the maximum benefit to the borrowers. One of the most distinguishing features of SBH car loan is the amount of loan coverage that it offers. With no prepayment penalty and processing charges, SBH car loans helps you save even while applying for a loan.
Here are some of the key features of State Bank of Hyderabad Car Loan:
The rate of interest applicable on SBH car loan is a mix of base rate plus a spread determined on the basis of multiple input factors. The bank has not yet published MCLR (Marginal Cost Based Lending Rate) for auto loans on their website. The rate applicable is uniform across various slabs.SBH Car loan Interest Rate for New Borrowers
9.75% (Base Rate) + 0.20% = 9.95% (effective rate)
Note: The interest rate 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.
SBH offers a hassle-free loan approval process wherein there is minimum document requirements. SBH has different car loan eligibility criteria depending on the borrower’s profession and nature of income.
Having the necessary documents handy will ensure a smooth application process. Here are some of the necessary documents for SBH car loan application.
BankBazaar’s EMI Calculator will help you arrive at the loan amount and EMI that suits your budget without any manual calculation. In BankBazaar.com homepage, select “EMI Calculator” under the Finance Tools option. Select “Car Loan EMI calculator” from the options that pop-up. Select the loan amount and the tenure using the interactive slider. Enter the interest rate and processing charges.
BankBazaar’s intelligent Car Loan EMI Calculator will give you the break-up of total amounts payable and also the monthly amortization details.
Alternatively, you can also use the State Bank of Hyderabad car loan EMI calculator available on the SBH website.
The Utsav car loan is a term loan which can be taken by customers for purchasing new cars, SUVs, MUVs and jeeps.
Customers can choose tenures to up to 84 months with repayment being done as monthly installments.
No, State Bank of Hyderabad does not charge any prepayment penalty for customer pre-closing their car loans.
The following types of applicants can get a car loan from State Bank of Hyderabad -
State Bank of Hyderabad has three categories for submission of security collateral for car loans -
The car loan applicant should be aged between 21 years and 65 years in order to qualify.
The interest rate offered to State Bank of Hyderabad car loan borrowers is a floating interest rate, depending on the base rate. The current interest rate given is 9.95%.
Yes, State Bank of Hyderabad car loan borrowers have to pay 0.25% of the loan amount as processing charges.
Yes, the minimum amount for processing charges is Rs. 500 and the maximum amount will be Rs. 5000.
Yes, State Bank of Hyderabad does provide the option of prepaying the car loan before the tenure is finished. Customers have to pay 2% of the amount that is being prepaid for floating interest rate term loans.
No, currently that facility is not offered by State Bank of Hyderabad to car loan borrowers.
For loan amounts up to Rs. 10 lakhs, the loan margin required is 15% of the on-road price of the vehicle. For loan amounts above Rs. 10 lakhs customers can either choose pay 15% of the ex-showroom price of the vehicle or 20% of the on-road price of the vehicle.
The quantum of loan sanctioned by State Bank of Hyderabad for salaried employees is up to 48 times their net monthly income.
The quantum of loan sanctioned by State Bank of Hyderabad for agriculturists is up to three times their net monthly income.
The quantum of loan sanctioned by State Bank of Hyderabad to other types of applicants is up to four times their net monthly income.
The interest rate offered will be 20 basis points above the prevailing base rate and does not depend on the quantum of loan sanctioned.
Yes, an insurance policy will be given by State Bank of Hyderabad to up to ten times the outstanding loan amount or as per the market value, whichever is higher.
Yes, a penal interest of 2% per annum would be levied on the amount overdue, if payments are not done on time.
The loan amount will be directed via the customer’s State Bank of Hyderabad bank account.
For non-SBH bank account holders, the amount will be sent directly to the car dealer’s account through NEFT or RTGS.
Yes, customers can make online applications for car loans and get the loan sanctioned in just ten minutes.
Yes, SBH does offer the facility of checking car loan application status online by entering details like loan type and the application ID.
The following details have to be entered by applicants -
Yes, car loan applications can be done at any State Bank of Hyderabad branch by submitting the filled -in form and the necessary documents.
The time taken to approve and sanction car loans by State Bank of Hyderabad varies depending on the documentation, verification and evaluation done.
State Bank of Hyderabad mainly check the income criteria of the applicant to ensure that he/she has the repayment capacity, while sanctioning a car loan.
Yes, State Bank of Hyderabad car loan borrowers can easily contact the 24/7 customer care at 18004251825 or use the Phone Banking facility available at 18004254055.
Customers can get in touch with any branch official or the customer care to find out more about any refinancing facility available.
Customers can get in touch with any branch official or the customer care to find out more about top-up loan options for car loan borrowers.
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