State Bank Of India - CAR : Loans / EMI / Finance options

• ID Proof : (Passport, Voters ID, Driving license, Pan Card, Aadhar Card) or Company ID Card
• Address Proof : (Passport,Voters ID,Driving license,Rental agreement,Telephone bill,Gas Connection Bill,Ration Card,Sale Deed, Property purchase agreement, Credit Card Bill, LIC Policy, Letter from Company, Address Proof of the applicant's spouse or parents name)
• Income Proof : Latest salary slip, Bank Statements of last 6 months,I.T. Returns or Form 16 for the last 2 years.
  If you are a Non-Salaried/ Professional/Businessmen then you need to submit Audited Balance sheet, P&L statement for 2 years, Shop & establishment act certificate / sales tax certificate / SSI registered certificate / copy of partnership.
  If you are engaged in agricultural and allied activities then you need to submit, Direct agricultural activity (crop cultivation): Khasra/Chitta Adangal (showing cropping pattern) Patta/Khatoni (showing land holding) with photograph. All land should be on free hold basis and ownership proof to be in the name of borrower.
  Allied agricultural activity (like Dairy, Poultry, Plantation/ Horticulture) Documentary proof of running of the activities to be provided.

• Age limit is 21 to 65 years

Regular Employee of State/Central government, public sector undertaking, Private company or a reputed establishment.

• Income Criteria : Net Annual Income of applicant and/or co-applicant if any, together should be a minimum of Rs. 2,50,000/-
• Maximum Loan Amount :48 times of the Net Monthly Income

Professionals, self-employed, businessmen, proprietary/partnership firms who are income tax assesses..

• Income Criteria: Net Profit or Gross Taxable income of Rs. 4,00,000/- p.a.(income of co-applicant can be clubbed together)
• Maximum Loan Amount : 4 times Net Profit or Gross Taxable income as per ITR after adding back depreciation and repayment of all existing loans

Person engaged in agricultural and allied activities.

• Income Criteria: Net Annual income of applicant and/or co applicant together should be a minimum of Rs. 4,00,000/-
• Maximum Loan Amount : 3 times of Net Annual Income

None.

State Bank Of India Car Loan Benefits

• Lowest Interest Rates & EMI
• Longest Repayment Tenure (7 years)
• Financing on ‘On-Road price' : On-Road price includes Registration, Insurance and Extended Warranty/ Total Service Package/ Annual Maintenance Contract/ Cost of Accessories
• Interest calculated on Daily Reducing Balance
• No Pre-Payment Penalty or Foreclosure Charges
• No Advance EMI
• Reimburse finance for the cars purchased out of your own funds at rate of interest applicable to New Car Financing. Note:Car should not be more than 3 month old
• Optional SBI Life Insurance cover available
• Overdraft facility available

The loan amount is 90% of on road price, if your Net annual income is upto Rs. 10 Lac or More than 10 Lac

State Bank of India Car Loan provides longest repayment period , i.e 84 months