SBI Car Loan Rate At 7.75%: How To Avail Online - A Step-By-Step Guide
NDTV
SBI Car Loan: The state-run bank's car loan scheme also comes with the longest repayment tenure of seven years, zero processing charges, and financing on on-road price'.
State Bank of India (SBI) offers cars loan at an interest rate of 7.75 per cent per annum along with several other benefits such as lowest EMI, minimal paperwork, and quick disbursement. The country's largest lender offers customized car loans such as certified pre-owned car loan, regular car loan, SBI loyalty car loan for existing home loan borrowers, green car loan for electric cars, among others.
The state-run bank's car loan scheme also comes with a repayment tenure of seven years, zero processing charges, and financing on ‘on-road price'. The on-road price includes the registration and insurance, and financing is up to 90 per cent of the 'on-road price', according to a statement shared by SBI today.
For car loan scheme, the interest is calculated on a daily reducing balance. The bank also allows purchase of new passenger cars, multi utility vehicles (MUVs), and SUVs. Customers will get a special interest concession of 25 bps on applying for the car loan through YONO - at 7.50 per cent per annum. State Bank of India's auto loan market share is 31.11 per cent. The car loan tenure is three-seven years.
