SBI Car Loan Application Form PDF
SBI Car Loans are the ultimate solution to all your car financing requirements. The process is fast, hassle-free and easy. You can choose from a range of offers like low interest rates, low EMI options, minimal paperwork and quick disbursement.
Salient Features
- Lowest Interest Rates & EMI;
- Longest Repayment Tenure (7 years);
- Financing on ‘On-Road price’:
- On-Road price includes Registration & Insurance.
- Interest calculated on Daily Reducing Balance;
- For purchase of new passenger cars, Multi Utility Vehicles (MUVs) and SUVs.
- Financing Upto 90% of ‘On-road Price’
- No Advance EMI
- Optional SBI Life Insurance cover available
Eligibility
The State Bank of India provides a car loan exclusively for their customers who are interested in buying a car. The eligibility criteria for availing this loan is that the customer should be at least 21 years of age, should be an Indian national and should not exceed 67 years of age.
| Category | Income Criteria | Max. Loan Amount |
| Regular employees of Central Public Sector Enterprises (Maharatnas/ Navratnas/ Miniratnas). Defence Salary package (DSP), Para Military salary package (PMSP) & Indian Coastal Guard Package (IGSP) Customers and Short Commissioned Officers of various Defence establishments. | Net Annual Income of applicant and/or co-applicant if any, together should be a minimum of Rs. 3,00,000/-. | 48 times of the Net Monthly Income. |
| Professionals, Self-employed, Businessmen, proprietary/partnership firms and others who are income tax assesses | Net Profit or Gross Taxable income of Rs. 3, 00,000/- p.a. (income of co-applicant can be clubbed together). |
4 times Net Profit or Gross Taxable income as per ITR after adding back depreciation and repayment of all existing loans. |
| Persons engaged in agriculture and allied activities. Income Tax return is not required in case of agriculturists. | Net Annual income of applicant and/or co applicant together should be a minimum of Rs. 4, 00,000/-. | 3 times of Net Annual Income. |