Chapter 1 Introduction

State bank of India (SBI) is India’s multinational, public sector banking and financial
services statutory headquarter in Mumbai .The rich heritage and legacy of over 200
years accredits SBI as the most trusted bank by Indians through generation.

The bank has successfully diversified business through its various subsidiaries i.e.
SBI general insurance ,SBI mutual fund , SBI life insurance , SBI card etc. it has
spread its presence globally and operates across time zones through 241 offices in 29
foreign countries

The oldest commercial bank in India, SBI originated in 1806 as the Bank of Calcutta.
Three years later the bank was issued a royal charter and renamed the Bank of
Bengal. Along with the Bank of Bombay (founded 1840) and the Bank of Madras
(founded 1843), it was one of three so-called presidency banks, each of which was
jointly owned by the provincial government and private subscribers.

In 1921 the presidency banks were merged to form the Imperial Bank of India (IBI),
which then became the largest commercial enterprise in the country. In 1955 the
government of India and the country’s central bank, the Reserve Bank of India
(founded 1935), assumed joint ownership of IBI, which was renamed the State Bank
of India. Ownership of IBI, which was renamed the State Bank of India. Four years
later, by the State Bank of India (Subsidiary Banks) Act, banks earlier operated by
individual princely states became subsidiaries of SBI. The Reserve Bank’s share of
SBI was transferred to the government in 2007.

SBI is governed by a board of directors headed by a chairman. The chairman and

managing directors of the bank are appointed by the government.

SBI is known for popular retail banking services in rural and urban populations of the
nation, they also have treasury service.

SWOT ANALYSIS OF STATE BANK OF INDIA

STRENGTHS

• Better domestic position

• It has the very large network in India
• It has the better goodwill in the market
• It has the strong brand name among customers
• Strong backing from the government

WEAKNESS

• Lack of modernization
• Loss of market shares, because of delay in technology up-gradation
OPPORTUNITIES

• Global expansion in that especially in rural areas

• Borrowing capacity of the customer is increasing
• Through the help of technologies that is mobiles, internet, computers the services
of online banking is increased.

THREATS:

• Threats of cyber will effect on bank image and information theft & security
• Effect on operation when giving licenses by SBI for new banks.

Services provided by SBI bank:

• Saving account:

A savings account is a type of deposit account provided by banks and financial

institutions. It allows individuals to deposit and store their money while earning a
certain rate of interest on the deposited amount. Interest rate provided by SBI 2.70%
p.a.

• Fixed deposit :

In a Fixed Deposit, you put a lump sum in your bank for a fixed tenure at an agreed
rate of interest. At the end of the tenure, you receive the amount you have invested
plus compound interest. FDs are also called term deposits. SBI offers FD interest
rates of 3.50%-7.25% p.a. to the general public and 4.00%-7.75% p.a. to senior
citizens for tenures ranging from 7 days to 10 years. The interest rate of SBI Tax
Saving FD is 6.50% p.a. for the general public and 7.50% p.a. for senior citizen
depositors.

• Credit card :

A credit card is a payment card that allows the card holder to pay for his different
transaction. Each card has a unique number. Using this number, plus other details on
the card (such as the validity date, or a code), the client can buy goods or services.

• Home loan :

A home loan is a secured loan that is obtained to purchase a property by offering it as

collateral. Home loans offer high-value funding at economical interest rates and for
long tenures. Interest on SBI Regular Home Loan 9.15% - 9.65%
• Business loan:

A business loan is a financial product designed to provide funding to businesses for

various purposes, such as expansion, working capital, equipment purchase, or
inventory management.

• Debit card:

A debit card is a payment card that deducts money directly from your checking
account. Also called “check cards” or "bank cards," debit cards can be used to buy
goods or services or to get cash from an ATM. Debit cards can help you reduce the
need to carry cash, although using these cards can sometimes entail fees.

Administrative Offices and Branches

SBI provides a range of banking products through its network of branches in India
and overseas, including products aimed at non-resident Indians (NRIs).

Concerning domestic banking business, SBI has 17 regional hubs known as local
head offices (LHOs), under whom are 57 administrative offices (AOs), that are
located in important cities throughout India, under whom are furthermore
administrative sub-offices known as regional business offices (RBOs), with each
RBO having, under its direct administrative control, some 40 to 50 branches.

The current position of the State Bank of India (SBI Bank)

The State Bank of India is a giant in its own right, and there are several reasons that
contribute to that. It is the oldest bank in the country currently if you go by the size of
its balance sheet.

Additionally, its market capitalization, hundreds of bank branches and the number of
profits are helping it give stiff competition to other private sector banks in the
country.

Presently, the bank is getting into a couple of new business with strategic tie-ups,
which have quite a large growth potential. Some of these tie-ups are General
Insurance, Pension Funds, Private Equity, Custodial Services, Mobile Banking,
Structured Products, Advisory Services, and Point of Sale Merchant Acquisition etc.

Technology and Security:

Cyber security Measures: SBI invests in advanced cybersecurity measures to

protect customer data and financial transactions.

Fintech Collaborations: The bank partners with fintech companies to innovate and
enhance its service offerings.
Here are some key aspects of SBI:

• Wide Reach: SBI has an extensive network of branches and ATMs across India
and in several countries around the world. It serves a broad customer base,
ranging from individuals to large corporations.

• Products and Services: SBI offers a wide range of financial products and
services, including savings and current accounts, loans (personal, home, auto,
etc.), credit cards, insurance, and investment products.

• Digital Banking: SBI has made significant strides in digital banking, providing
online and mobile banking services that allow customers to manage their
accounts, make transactions, and access various services remotely.

• Government Role: Being a government-owned entity, SBI plays a crucial role in

the Indian economy and is involved in various government schemes and
initiatives, including financial inclusion programs and development projects.
• Subsidiaries and Associates: SBI has several subsidiaries and associate
companies in sectors like insurance, asset management, and investment banking,
which help in offering a comprehensive range of financial services.
• International Presence: SBI has a global presence with branches and
subsidiaries in countries like the USA, UK, Canada, and several others, catering
to the needs of the Indian diaspora and international businesses.

State Bank of India – Other Details

• Largest Indian Bank with 1/4th market share

• serves over 45 crore customers
• Have over 22,000 branches, 62617 ATMs/ADWMs, 71,968 BC outlets
• Have various subsidiaries i.e. SBI General Insurance, SBI Life Insurance, SBI
Mutual Fund, SBI Card, etc.
• Headquarters – Mumbai
• Current Chairman - Challa Sreenivasulu Setty

Banking Innovations:

SBI Yono: A digital platform launched to integrate banking, shopping, and lifestyle
services in one app.

Digital Banking Units: SBI has set up Digital Banking Units (DBUs) to offer end-to-
end digital banking services in a dedicated branch format.

SBI Smart: An initiative to offer a range of tech-driven banking solutions like

contactless cards and advanced ATM services.
 Achievements & Milestone:

• 2022 - Bagged the 'Best Bank Award' at the 8th National Payments Excellence
Awards.

• 2022- SBI’s market capitalization crossed the Rs. 5 trillion mark, reflecting
investor confidence.

• 2021 -SBI ranked 43rd in the Forbes Global 2000 list of the world's biggest public
companies.

• 2021- SBI became the first Indian bank to introduce a 'Green Bond Framework'
for sustainable financing.

• 2019- Achieved a milestone of 1 million merchant acceptance points, enhancing

digital payment infrastructure.

• 2015- SBI ranked 52nd in the Forbes Global 2000 list of the world's biggest
public companies.

Awards of SBI Bank

• Best Bank in India:

SBI has been consistently recognized as one of the leading banks in India by various
industry bodies and publications for its performance, customer service, and
innovation.

• Digital Banking Awards:

"Best Digital Bank": SBI has won awards for its digital banking initiatives, including
recognition from organizations such as the Asian Banker and other financial industry
award bodies.

"Best Mobile Banking App": SBI has received accolades for its mobile banking app,
which has been praised for its user-friendliness and features.

• Sustainability and CSR Awards:

"Best Corporate Social Responsibility (CSR) Practices":

SBI has been acknowledged for its efforts in CSR, including awards from
organizations that recognize contributions to social causes and sustainability
."Green Banking Award":

SBI has been recognized for its efforts in promoting environmental sustainability and
green banking practice

ABOUT THE TOPIC:

A vehicle loan is an amount of money taken from a lending provider to purchase a

new or used vehicle. The individuals agree to repay the total amount of the loan along
with the lending interest rate amount to the lender (often banks) as and when required.
Individuals can choose a vehicle from a list of models and manufacturers in India
according to their annual income and budget.

Presently, a common man can fulfill his dreams of purchasing a car by getting a
vehicle loan.

According to yo requirements and financial situations, you can get vehicle loans from
a variety of auto financing

Services such as Mahindra Finance, Tata Finance, Bajaj Finance and State Bank of
India loans

For example, if you are thinking about financing options with SBI, you must first
give your information regarding the type of loan to the company. The SBI associates
will then get in touch with you to assist with the loan eligibility amount and the
different offers and schemes available with their bank. These days, almost everyone
has the desire to buy a vehicle which best suits them according to their requirements.

Benefits of vehicle Loans:

Vehicle loans have many benefits. Some of the benefits for applying for vehicle
financing loans in India are given below:

1. People using a vehicle for their business purpose can claim part of the interest and
depreciation charges as expenses against taxable income.

2. Monthly payments can be directly debited from your bank account.

3. If you’re paying fixed payments, the terms of the agreement allow for more
accurate budgeting and protect you against any interest rate fluctuations.

Types of vehicle Loan

Banks offer 3 types of vehicle loans:

1. New vehicle loan

2. Used vehicle loan.

3. Loan against vehicle

1) New vehicle Loan

A new vehicle loan is taken out to purchase new vehicles generally from dealerships.
As citizens of India are getting higher pay packages, many salaried and self-employed
individuals are looking to get their dream vehicle. There are many banks which
provide new vehicle loans with low vehicle loan rates in India.

2) Used vehicle Loans

Used vehicle loans are taken by the borrower to purchase a used car from either a
second hand vehicle dealer or an individual seller. There are a number of lending
institutions which provide used vehicle loans in India. Sometimes people can’t afford
to buy a new vehicle and in such cases, going for a used vehicle is the best option.

3) Loan against vehicle

Another vehicle loan option you have is to borrow money and use the vehicle you
purchase as loan security. These types of loans basically mean that the lender will be
able to claim the vehicle if you cannot pay them back. But this type of loan is
convenient if you need a new vehicle right away and have no funds for a deposit.

OBJECTIVES OF THE STUDY:

1. To study the car loan provided by bank of India to their customers.

2. To study the detailed procedure involved in the sanctioning of vehicle loan.

3. To study the awareness of the vehicle loan among the customer.

4. To study the rules and documents required by state bank of India for vehicle loan.

NEED FOR THE STUDY

1. Presently all car financing companies are giving very attractive schemes to their
customers and this study is aimed at, what is in the mind of customers with reference
to the applying for car loans in SBI.

2. At several Banks, they realize that owning a car has increasingly become a
necessity. But they also realize that the price tag of the dream car may have a huge
gap. Car Loans are just to give what customers need to bridge the gap.

Vehicle Loan Schemes Provided by SBI

SBI New vehicle Loan Scheme:

This scheme is suitable for those who wish to purchase a new car. The repayment
tenure is up to 84 months and the applicant is also offered an optional SBI Life
Insurance Cover.
Certified Pre-owed Car Loan Scheme:

This scheme is for those who wish to purchase a pre-owned vehicle for themselves.
The minimum loan that one can avail is Rs.3 lakh and the maximum loan amount
being Rs.10 lakh. The repayment tenure can be either 5 years, or 8 years minus the
age of the vehicle.

SBI Loyalty Car Loan Scheme:

Under this scheme, 100% of the on-road price of the vehicle may be provided as a
loan. The repayment tenure under this scheme is 7 years, and the minimum income
criteria the applicant will have to fulfill is Rs.2 lakh

SBI Assured Car Loan Scheme:

If a customer has opened a fixed deposit account in a branch of SBI, then he/she can
avail this car loan scheme. The repayment tenure ranged between 3 years and 7 years
depending on the loan amount.

Green Car Loan:

Under the scheme, car loans are provided for electric vehicles. The repayment tenure
ranges between 3 years and 8 years. Up to 100% of the on-road price of the car may
be provided as a loan. Individuals between the ages of 21 years and 70 years can avail
the loan.

SBI vehicle Loan Rate of Interest 2024

Type of vehicle Loan Scheme SBI vehicle Loan Interest Rates

SBI Car Loan, NRI Car Loan, Assured 8.65% to 9.45%
Car Loan Scheme
Certified Pre-owned Car Loan Scheme 11.25% to 14.75%
SBI Green Car Loan 8.60% to 9.30%

Loan Processing and Approval Time:

Processing Time: SBI typically processes vehicle loan applications within a few
business days, provided all required documents are submitted and in order. However,
the exact time may vary based on the completeness of the application and the bank’s
workload.

Pre-Approval: If you get pre-approved for a loan, the process can be faster as much
of the initial assessment is already done.
 Application Process:

• Visit the Branch or Apply Online: You can apply for a vehicle loan either by
visiting an SBI branch or through the bank's online portal.

• Submit Documents: Provide all required documents as specified by SBI. This

typically includes personal identification, proof of income, and vehicle details.

• Approval and Disbursement: Once your application is processed and

approved, the loan amount is disbursed, usually directly to the vehicle dealer or
seller.

• EMI Payments: After disbursement, you'll start repaying the loan in EMIs
(Equated Monthly Installments) as per the agreed schedule.

SBI Car Loan Amount and Terms

• How much car loan can one get

SBI finances up to 90% of ‘on road price’ of the new car, inclusive of
registration, road tax, and car insurance charges.

• Loan Tenure

The repayment date is fixed from the succeeding month for a period up to seven years
or 84 EMIs. Remember, the EMI will be higher for a shorter period repayment as
against the longer term

• Credit Score Requirement

Borrower’s credit score of 699 and higher is considered credit-worthy. The applicants
with a poor credit history as well can apply, but the interest rate for those can go up to
8.65%.

• Approval Process

You can check the eligibility to apply for a new car loan both online or by visiting the
nearest branch of the bank. After submitting the required documents, loan processing
and disbursement will take at least seven working days.
SBI vehicle Loan Features and Benefits

• Eligibility
Age Limit: Between 21 to 67 years
• Maximum Loan Term: 7 years
• Financial Position:
Minimum net annual income of the applicant should be INR 3 lakh.
• Past and Present Credit History and Credit Score:
Bank runs credit check to assess borrower’s credit worthiness.
• Other Financial Obligations:
Existing EMIs on loans like home loan, credit card debt, etc, are all taken
into consideration.
• Repayment:
The EMI date is fixed from succeeding months for the bank to
automatically debit the money via payment mode like NACH.

Documentation

• Proof of income, identity, and address required for salaried:Statement of

bank account for last six months.
• Passport size photographs.
• Latest salary slip, Form 16.
• ITR or Form 16 for the last two years.
• Passport, pan card, voter’s card, driving license, etc.
• Ration card, driving license, voter’s card, passport, telephone bill,
electricity bill, life Insurance policy.

Proof of income, identity, and address required for self-employed:

• Statement of bank account for last 6 months.

• Passport size photographs.
• ITR for the last two years.
• Proof of income: Audited Balance sheet, profit and loss statement for
two years, shop and establishment act certificate, sales tax certificate,
copy of partnership.

EMI Options:
Flexible Repayment: SBI may offer options like step-up or step-down
EMIs where payments can increase or decrease over time based on your
financial situation.
Prepayment and Foreclosure: SBI allows prepayment or foreclosure of
the loan, which can help reduce overall interest payments. There might be
prepayment penalties or charges, which can vary.
Common Myths about Car Loans:

Understanding the myths and facts about vehicle loans is crucial for making informed
financial decisions.

1. Car Loans Cannot be Availed for Used Cars

Many people believe that they can apply for a car loan only for brand new vehicles.
This is not entirely true. Second-hand cars can help you save a lot of money - there is
an entire industry in India that thrives on this very concept.

There are many used car showrooms and dealerships across the country that will
happily finance your car at attractive interest rates.

The only thing you need to keep in mind is the quality of the car and reputation of the
party you are dealing with. After all, you don’t want to be stuck with a car that breaks
down every now and then

2. Go for a Car Loan Because You are Eligible for One

You must have received plenty of emails and messages stating that you are eligible
for a car loan at so-and-so interest rate. At times, it can be quite tempting to cave into
these messages and just apply for a car loan! But before you do that, you should ask
yourself if you really need a car or, more importantly, can you afford one.

This line of questioning will always keep you on your toes and prevent you from
making costly mistakes when it comes to vehicle financing.

3. You need to make a Big Down Payment

A common misconception about car loans is that you need to make a huge payment
upfront before you can avail the loan amount. While this is true - you do need to
make a down payment, the amount need not be necessarily high. With most banks
and dealerships financing up to 85% of the loan amount, you need to pay only 15%.

So, if you are buying a car worth Rs.5,00,000, you need to pay only Rs.75,000.
However, if you can make a large down payment up front, you are likely to get a
better deal.

4. Vehicle Loans Are Only for Cars

Vehicle loans can be used to finance a variety of vehicles, including motorcycles, e-

rickshaws, commercial trucks, and more.

Banks offers a wide range of loan options to accommodate different types of vehicles,
enabling entrepreneurs and individuals to pursue their business and personal
transportation goals.
5. Banks have rigid rules for vehicle loans

Banks and NBFCs now-a-days are extremely customer friendly. They can bend some
of their loan rules if you have a strong credit score and right documents with your
application.

6. : You can’t get a car if you don’t have strong credit score

Having a good credit score is one of the requirements to get a vehicle loan. The
required credit score for most banks and NBFCs to get a car loan is around 750. But
many banks and NBFCs offer car loan to those with lower credit score depending
upon rest of their profile.

So you can avail a car loan even if you don’t have such strong credit score. The
policy varies from bank to bank.

Factors Affecting SBI Car Loan Interest Rates

The interest rates for the SBI Car Loan depend on various factors, such as:

Market fluctuations: Interest rates are influenced by market dynamics, including

inflation rates, economic growth, etc.

Age of the vehicle: SBI may charge a higher interest rate for used cars than for new
ones because of the higher risk involved with older vehicles.

Loan amount and tenure: The interest rate on a car loan may vary depending on the
amount of the loan and the tenure. Generally, a longer loan tenure will attract higher
interest rates.

Individual's credit score: The interest rate on a car loan also depends on the
borrower's credit score. A high credit score may lead to lower interest rates.

Income and employment stability: SBI may also consider the borrower's income
and employment stability before deciding on the interest rate. Stable employment and
higher income may result in a lower interest rate.

Pros and Cons of Taking SBI Auto Loan

Let's weigh the pros and cons before taking out a car loan.

• Some advantages of taking out an SBI Car Loan include the following:
• Helps you purchase your dream car without affecting your savings
• Easy repayment options with no pre-payment charges
• Competitive interest rates
• Helps you to build your credit score
 Chapter 2 Review of Literature

• .Mishra et al. (2021) conducted a study on the financial performance of SBI. The
study remarkably to the development of Indian banking industry As per the topic
of the found that SBI had a higher ROA (Returns on assets) and ROE (Returns on
equity State Bank of India, being the oldest and largest commercial bank of the
country, contributed research “A study of vehicle loan approval rates ” an attempt
has been made to study the different studies in this field to assess the performance
of banks in India.

• Chakra borty and Debnath (2021) conducted a study on the impact of financial
inclusion on the financial performance of banks in India, including SBI. The study
found that financial inclusion had a positive impact on the financial performance
of banks, including SBI.

• Shined Govind P. & Dubey Manisha (2011) the study has been conducted
considering the segments such as passenger vehicle, commercial vehicle, utility
vehicle, two and three wheeler vehicle of key players performance and also
analyze SWOT analysis and key factors influencing growth of automobile
industry.

• PATEL BHAVESHKUMAR K (2020), study the financial performance of SBI

bank, this study is based on secondary data that has been collected from annual
reports of the SBI bank, books, newspapers, magazines, journals, documents,
research papers, websites, and other published information. It is major part of total
banking system in India.SBI is the India’s largest commercial bank in terms of
assets, deposits, and employees. This study main objective is to find out the
profitability, liquidity ratios and solvency ratios to measure the financial health of
SBI bank. The market position of SBI is better. Financial analysis is used to find
the banks position in maintaining the day-to-day operations. This study is focused
to evaluating the performance of SBI bank

• Padhan and Naik (2018) conducted a study on the financial performance of

public sector banks in India, including SBI.

• Vikas Kumar and Sanjeev Kumar (Jan, 2021) carried out a research study titled
“Impact of Covid19 on Indian Economy with Reference to Banking Sector.
 Chapter 3 Research Methodology
Research is a process of systematic and in-depth study of any Topic or subject
backed by collection, compilation, presentation, and interpretation of relevant data.it
is a way of explaining how a researcher intends to carry out their research. Research
design is needed because it facilitates the smooth sailing of various Research
Operations, thereby making as efficient as possible. In simple words it refers to the
process of research.

1. Research introduction:

State Bank of India is the largest lender in the country. The state-owned bank has a
massive customer base that enjoys various services like banking, investment, loans
and other financial services vehicle loans are an important portfolio for any bank in
the lending business. Indians love to flaunt their vehicles and car loans are the best
way of owning your dream car. SBI is always known for its lowest interest rates,
convenient repayment tenures and very less fees and charges associated with their
loan products.

2. Area of study :

The area of study for this research is the vehicle loan approval rates provided by the
SBI bank. This study also showcase whether SBI vehicle loan services has match the
satisfaction level and expectation of the customers.

3. Objective of study:
• To study the interest rate of vehicle loan of State Bank of India.
• To study the vehicle loan scheme of State Bank of India.
• To analyze the vehicle loan scheme of bank.
• To know the approval process of vehicle loan in SBI Bank.
• To make awareness among the people about the benefits of vehicle loan.

4. Limitation of study :

For this study I have considered the Branch of SBI bank at Mira Road , Bhyandar.

5. Sample design :

For this study the survey is conducted among 50 respondents. Among which most of
them find the vehicle loan service provided by SBI bank are as per their expectation.
They also find that the cost offered for the vehicle is fair. The approval process for the
vehicle loan is easy for the customers to understand and perform. Overall the
customers are satisfied with the vehicle loan process of SBI bank.
6. Sampling technique used:

The sample technique used for this study is simple random sampling technique.

7. Data collection method:

The method used for collecting data in this study is Google form to know about the
perception and the viewpoint of the customers of SBI bank, there experience with the
vehicle loan process of SBI bank.as well as to get the feedback from the customers of
SBI bank.

8. List of questionnaire:

Following are the list of questionnaire asked for the survey of the customer who have
taken up the vehicle loan from SBI bank.

• How did you first learn about SBI’s vehicle loan products?

• How would you rate the ease of the application process?

• Was the loan approval process faster or slower than you expected?

• Were you satisfied with the loan amount offered in relation to your vehicle's
cost?

• How competitive do you find the interest rate offered by SBI on vehicle loans
compared to other banks?

• Overall, how satisfied are you with your experience of obtaining a vehicle loan
from SBI?

• What improvements would you suggest for SBI’s vehicle loan process?
 Chapter 4 Data Analysis and Interpretation
Analysis is important to understand customer point of view and this help organization
to improve their area of services or where they lack. . So, this survey is conducted to
gather information from various ages’ weather they are aware of vehicle loan services
provided by SBI bank and there experience with the service.

Age

• This shows that which age group people have filled this form
• Age group help us to understand that what age group people have their
perspective towards the vehicle loan services provided by SBI bank
• As from above graph we can see that people belonging to age group of 27,29,36,
are mostly aware of the vehicle loan services provided by SBI bank.
How did you first learn about SBI’s vehicle loan products?

• It is important for the bank to know from where there customers are being
awarded about the vehicle loan services.
• From the above pie chart, we can see that 28% of people out of 100% are awarded
by visiting nearby SBI branches.
• Other 28% are awarded from the referrals of their friends and family members.
• 14% from the official website of SBI bank.
• Maximum of them that is 30% of people out of 100% are aware from the
advertisement run by the banks which can be online or offline such as billboards,
TV adds etc.
How would you rate the ease of the application process?

• As we all know that loan application is time consuming and can be difficult for
some customs who are not well aware of the process
• In the above pie chart most of people that is almost 54% of people find it very
easy to apply for the vehicle loan process in SBI bank
• It is important for the bank to keep the loan process simple and easy for their
customer .
Was the loan approval process faster or slower than you expected?

• Loan process takes a lot of time and the customers expect that it could be faster
and match their expectation.
• From the above pie chart the loan approval process of SBI bank matches the
expectation level of most of the customers of SBI that is 56%.
• 28% of them find the process slightly slower where as 16% of them find it faster.
• It is important for the banks to keep the loan approval process easy that can be
easily performed and understand by the customers
• The customer should not face any problem while applying for the vehicle loan.
Were you satisfied with the loan amount offered in relation to your vehicle's
cost?

• In the above pie chart we can see that 54% of people are satisfied with the loan
amount offered in relation to your vehicle’s cost.
• 34% are neutrally satisfied.
• Whereas 12% of them are dissatisfied.
• The banks should offer correct and reasonable cost for the vehicle which can
satisfy the customer.
• The loan amount offered by the ban in relation to the vehicle cost must meet the
expectation of the customer and satisfy them.
How competitive do you find the interest rate offered by SBI on vehicle loans
compared to other banks ?

• Interest rate is very much important and plays a significant role for the customers
as, on the basis of interest rates the customers decides to take up the loan.
• Customers get influenced by the interest rates
• The interest rates provided by the banks should always satisfy the customer.
• As we can observe the above pie chart that almost half of the people out of 100
that is 52% find the interest rates offered by the SBI bank on vehicle loans are
average as compared to other banks
• 36% of them find it competitive where as 12% of then find it not competitive.
Overall, how satisfied are you with your experience of obtaining a vehicle loan
from SBI?

• Customer satisfaction is very much important for the banks as it proved then with
feed backs that help them to overcome their drawbacks and fill in the gaps.
• The above pie chart shows that almost 52% out of 100 customers are very much
satisfied and has a best experience of taking up a vehicle loan from SBI.
• With the help of new schemes, highlighting the benefits of loan, reasonable cost
for the vehicle the bank can satisfy the customer and can gain their trust.
Suggestions and feedbacks of the customer are very important and necessary for SBI
bank so they can improve any drawbacks and fill in the gaps in their vehicle loan
process.

From the above bar graph most of the SBI customer suggests that though the process
of vehicle loan is easy but it is time consuming it takes a long process to approve the
loan.
 Chapter 5 Conclusion
It can be concluded that customers have a good respond towards SBI. SBI is in 1st
position having large number of customers &providing good services to them. The
bank has a wide customer base, so the bank should concentrate on this to retain these
customers.

In present scenario SBI is the largest advance product issuer in India. Within a very
short period of time the achievement made by SBI is excellent, what a normal bank
cannot expect, but it is being done by SBI it happens due to employee dedication
towards the organization, fastest growing Indian economy, & brand image. To be the
largest advance product issuer,

SBI should focus on-

Launch Innovative product

Customized advance products

Better customer services

Fastest customer’s problem solving techniques

Customer retention

A part from all the above, SBI believe in providing good customer services to their
customers which is a key factor for success in future.
 Chapter 6 Reference

• https://sbi.co.in/web/interest-rates/interest-rates/loan-schemes-
interest-rates/auto-loans

• https://en.wikipedia.org/wiki/State_Bank_of_India

• https://sbi.co.in/web/about-us/about-us

• https://parkplus.io/car-loan/sbi-bank

• https://www.scribd.com/document/406456913/Research-Project-
on-Vehicle-Loan-of-SBI

• https://ijarsct.co.in/Paper17003.pdf

• https://ijrpr.com/uploads/V4ISSUE6/IJRPR14594.pdf

• https://sbi.co.in/web/personal-banking/loans/auto-loans/sbi-new-
car-loan-scheme