SBI NEW CAR LOAN SCHEME

SBI provide the best car loan scheme for you. Salient features: No Advance EMI; Longest repayment tenure (7 years); Lowest interest rates ; Lowest EMI; LTV 85% of 'On Road Price' of car (includes registration, insurance and cost of accessories worth Rs 25000), 90% in case of Corporate Salary Package accounts; Interest Calculated on Daily Reducing Balance; Flexibility of payment of EMI anytime during the month ; No pre-payment penalty; Free Accident insurance ; Optional SBI Life cover; Overdraft facility available.

Purpose For purchase of new passenger cars, Multi Utility Vehicles (MUVs) and SUVs. Eligibility To avail an SBI Car Loan, you should be : Individual between the age of 21-65 years of age. Regular employee of State / Central Government, Public Sector Undertaking, Private company or a reputed establishment. Professionals, self-employed, businessmen, proprietary/partnership firms who is an income tax assessee. Person engaged in Agricultural and allied activities. Net Annual Income Rs. 2,50,000/- and above.

Loan Amount There is no upper limit for the amount of a car loan. A maximum loan amount of 48 times of Net Monthly Income or 4 times of Net Annual Income can be sanctioned. Documents Required You would need to submit the following documents along with the completed application form:

1. 2. 3. 4. 5. 6. 7. Margin

Statement of Bank account of the borrower for last 6 months. 2 passport size photographs of borrower(s). A copy of passport /voters ID card/PAN card. Proof of residence. Latest salary-slip showing all deductions I.T. Returns/Form 16: 2 years for salaried employees and 2 years for professional/self-employed/businessmen duly accepted by the ITO wherever applicable Proof of official address for non-salaried individuals

15% of the on road price (which includes vehicle registration charges, insurance, onetime road tax and accessories).

Repayment You can enjoy the longest repayment period in the industry with us as long as 84 months. Reimbursement of costs of car purchased by own sources We also reimburse finance for the cars purchased out of own funds which are not more than 3 month old at rate of interest applicable to New Car.

Interest Click here to view the interest rates Processing Fee 0.51% of loan amount, minimum Rs 1020/- and Maximum Rs 10200/-. Security As per Bank's extant instructions.

CAR LOANS Interest Rates w.e.f. 20.09.2012 (Base Rate 9.75 % p.a.)
SBI CAR LOAN SCHEME Tenure Rate of Interest For Term Loan and Overdraft: 0.75% above Base Rate, i.e. 10.50% p.a.

For all tenures

NRI Car Loan Tenure For all tenures Rate of Interest 0.75% above Base Rate, i.e. 10.50% p.a

Two - Wheeler Loan Tenure Up to 3 years Rate of Interest 8.25% above Base Rate i.e. 18.00% p.a.

Used Vehicles Tenure Up to 3 years Above 3 yrs Rate of Interest 7.25% above Base Rate i.e. 17.00% p.a. 7.50% above Base Rate i.e. 17.25% p.a.

Certified Pre-owned Car Loan scheme Tenure Up to 3 years Above 3 yrs Rate of Interest 6.00% above Base Rate i.e. 15.75% p.a. 6.50% above Base Rate i.e. 16.25% p.a.

NOTE: ALL INTEREST RATES ARE SUBJECT TO CHANGE, WITHOUT NOTICE

CERTIFIED PRE-OWNED CAR LOAN

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SBI provide the best car loan scheme for you to take a loan for purchase of Certified Preowned Car, not more than 5years old. SBI offers you: No Advance EMI; Longest repayment tenure (7 years); Lower interest rates

Lowest EMI; LTV 85% of On Road Price of car (includes registration, insurance and cost of accessories), Interest Calculated on Daily Reducing Balance; Flexibility of payment of EMI anytime during the month; Low pre-payment penalty, only 2%; Low processing fee (only 0.51% of loan amount); Free Accidental insurance ; Optional SBI Life cover;

The Scheme Purpose Term Loans for purchase of Certified Pre Owned car, from certified used car dealers, not more than five years old. The loan should be repaid within 7 years from the date of the original purchase of the vehicle. Eligibility To avail an SBI Car Loan, you should be: Individual between the age of 21-65 years of age. A Permanent employee of State / Central Government, Public Sector Undertaking, Private company or a reputed establishment or A Professionals or self-employed individual who is an income tax assessee or A Person engaged in agriculture and allied activities. Net Annual Income Rs. 100,000/- and above.

Salient Features

Loan Amount Maximum Loan amount will be 2.5 times of net annual income. Spouses income could also be considered provided the spouse becomes a co-borrower in the loan. Documents Required You would need to submit the following documents along with the completed application form:
1. 2. 3. 4. 5. 6.

Statement of Bank account of the borrower for last 6 months. 2 passport size photographs of borrower(s). Signature identification from bankers of borrower(s). A copy of passport /voters ID card/PAN card. Proof of residence. Latest salary-slip showing all deductions

7.

8.

I.T. Returns/Form 16: 2 years for salaried employees and 3 years for professional/self-employed/businessmen duly accepted by the ITO wherever applicable to be submitted. Proof of official address for non-salaried individuals.

Margin 15% of the on the road price (which includes vehicle registration charges, insurance, one-time road tax and accessories). Repayment You can enjoy the longest repayment period in the industry with us as long as 84 months. Interest Click here to view the interest rates. Processing Fee 0.51% of Loan amount Security As per Bank's extant instructions.

CAR LOAN SCHEME FOR USED CAR

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SBI provide the best car loan scheme for you to take a loan for purchase of used car, not more than 5 years old. SBI offers you: No Advance EMI; Longest repayment tenure (7 years); Lower interest rates Lower EMI; LTV 85% of On Road Price of car (includes registration, insurance and cost of accessories worth Rs 25000), Interest Calculated on Daily Reducing Balance; Flexibility of payment of EMI anytime during the month; Low pre-payment penalty, only 2%;

Low processing fee (only 0.51% of loan amount); Free Accidental insurance ; Optional SBI Life cover.

The Scheme

Purpose You can take finance for purchase of passenger cars, Multi Utility Vehicles (MUVs) and SUVs not more than five years old. Eligibility To avail an SBI Car Loan, you should be: Individual between the age of 21-65 years of age. A Permanent employee of State / Central Government, Public Sector Undertaking, Private company or a reputed establishment or A Professionals or self-employed individual who is an income tax assessee or A Person engaged in agriculture and allied activities. Net Annual Income Rs. 100,000/- and above.

Salient Features

Loan Amount Maximum Loan amount will be 2.5 times of net annual income. Spouses income could also be considered provided the spouse becomes a co-borrower in the loan.

Documents Required You would need to submit the following documents along with the completed application form:
1. 2. 3. 4. 5. 6. 7.

8.

Statement of Bank account of the borrower for last 12 months. 2 passport size photographs of borrower(s). Signature identification from bankers of borrower(s). A copy of passport /voters ID card/PAN card. Proof of residence. Latest salary-slip showing all deductions I.T. Returns/Form 16: 2 years for salaried employees and 3 years for professional/self-employed/businessmen duly accepted by the ITO wherever applicable to be submitted. Proof of official address for non-salaried individuals.

Margin 15% of the on the road price (which includes vehicle registration charges, insurance, one-time road tax and accessories).

Repayment You can enjoy the longest repayment period in the industry with us as long as 84 months. Interest Click here to view the interest rates. Processing Fee 0.51% of Loan amount Security As per Bank's extant instructions.

2-WHEELER LOAN

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SBI provide the best Two- Wheeler loan scheme for you to take a loan for purchase of new Two- Wheeler. SBI offers you: No Advance EMI; Lower interest rates Lowest EMI; LTV 85% of On Road Price of vehicle; Interest Calculated on Daily Reducing Balance; Flexibility of payment of EMI anytime during the month; Low processing fee (only 1.22% of loan amount); Free Accidental insurance ; Optional SBI Life cover.

The Scheme Purpose

To provide finance for purchase of new Two-wheelers viz. scooter/motor cycle/ moped/battery-operated vehicles. Eligibility To avail an SBI Car Loan, you should be : Individual between the age of 21-65 years of age. A Permanent employee of State / Central Government, Public Sector Undertaking, Private company or a reputed establishment or A Professionals or self-employed individual who is an income tax assessee or A Person engaged in agriculture and allied activities. Minimum Net Annual Income Rs. 75,000 (for regular petrol/diesel/gas operated scooters & motor cycles) and Rs. 60,000 (mopeds and battery-operated Twowheelers)

Salient Features Loan Amount For salaried persons, the maximum loan amount is restricted to 6 times Net Monthly Income (NMI), i.e. net of all deductions including actual monthly tax deductions at source. In case of others, the maximum loan amount is restricted to half of Net Annual Income (NAI), i.e. income as per latest income tax return filed less taxes payable. For agriculturists, the net annual income should be arrived based on the nature of their activity (i.e. farming, dairy poultry, orchards, etc) land holding, cropping pattern, yield, etc., and average level of income derived there from in the area.

Documents Required The following papers are to be submitted along with loan application:
1. 2. 3. 4. 5. 6. 7. 8.

Statement of Bank account of the borrower for last 12 months. 2 passport size photographs of borrower(s). Signature identification from bankers of borrower(s). A copy of passport /voters ID card/PAN card. Proof of residence. Latest salary-slip showing all deductions and TDS certificate-Form 16 in case of salaried persons Copy of Income Tax Return for last two financial years, duly acknowledged by ITO for professionals, self-employed and others. Proof of official address for non-salaried individuals.

Margin 15% of the on the road price (which includes vehicle registration charges, insurance, one-time road tax).

Repayment

You can repay the loan within 36 months.

Interest Click here to view the interest rates. Processing Fee 1.22% of Loan amount Security As per Bank's extant instructions.

SBI-TML CAR LOAN SCHEME FOR POST OFFICE EMPLOYEES

The scheme is available till 25.08.2012 Age Between the Age: 21 65 years (for sanction of loan),loan can be granted for persons beyond 65 years who have sufficient, regular and continuous source of income for servicing the loan. Loan must be fully repaid before the borrower attains the age of 70 years. Employees of Post Office in Uttar Pradesh State For purchase of Tata Cars The maximum loan amount is 48 times of the net monthly income. Hypothecation of vehicle and noting of hypothecation charge in the books of R.T.O. Rs. 510/0.75% above base rate, 10.75% p.a., for all tenure i.e.

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Who are Eligible Purpose Maximum Loan Amount Security

Processing Fee Rates of Interest

Margin

(Base Rate: 10% currently) 10% of on-road price of car, i.e. 90% finance of On Road price of the car Maximum 84 months

Re-payment

Period Penal Interest For Loans above Rs.25000/- , if the irregularity exceeds EMI or Instalment amount, for a period of one month , then penal interest would be charged @2% p.a.(over and above the applicable interest rate) on the overdue amount for the period of default. If part instalment or part EMI remains overdue, then penal interest should not be levied Statement of Bank account of the borrower for last 6 months. 2 passport size photographs of borrower(s). A copy of passport /voters ID card/PAN card/ Driving License. Proof of residence- Tax receipts, Telephone bill, Electric bill etc.. Latest salary-slip showing all deductions I.T. Returns/Form 16: for last 2 years No Pre-payment Penalty will be charged Amount should be remitted direct to the supplier/dealer. The vehicle purchased is to be kept comprehensively insured in the name of the borrower for the market value or at least 10% above the loan amount outstanding, whichever is higher, and the Banks interest as a hypothecatee should be noted in the certificate of insurance and insurance policy. A copy of this is to be retained with the loan documents.

Documents required

Prepayment Penalty Mode of disbursement Insurance