SBI car loans are offered at 7.75 percent interest
The State Bank of India (SBI) offers car loans at an interest rate of 7.75% per annum, along with several other benefits such as lowest EMI, minimal documentation and fast payments. The nation’s largest lender offers personalized car loans such as B. certified car loans, regular car loans, SBI loyalty loans for existing borrowers, green car loans for electric cars, and many more.
The state bank’s auto loan program also includes a seven-year repayment period, no processing fees, and “street price” funding. Travel expenses include registration and insurance, and funding amounts to up to 90 percent of “travel expenses” according to a statement shared by SBI today.
For the auto loan program, the interest rate is calculated based on a daily declining balance. The bank also allows the purchase of new cars, multipurpose vehicles (MUVs), and SUVs. The customer receives a special license of 25 bp. when applying for a car loan through YONO – at 7.50% per annum. State Bank of India’s market share in auto loans is 31.11%. The term of a car loan is three to seven years.
How to apply for an SBI car loan online?
To apply for a car loan online, customers can access the link: https://onlineapply.sbi.co.in/personal-banking/auto-loan?se=Product&cp=SBICOIN&ag=General
-Enter the required data in the provided column
-Check eligibility and get loan offers.
How to apply for a SBI SBI YONO car loan?
Log in to your YONO account
On the home page, click the menu (three highlighted lines) at the top.
Click Loans and select a car loan
Take an aptitude test
Loan application after entering data
Specify the amount allowed
Fill in the application form and upload the required documents
On Thursday 30 September, State Bank of India shares were last trading 1.49% lower at Rs 453.25 on BSE.