Are you in need of car loan? Are you planning to buy a multi utility vehicle? Well, SBI can help you out in providing a loan with nominal interest rates. SBI offers finance to its customers from its 12,000 branches all over India in addition to the personal banking branches of the customer.
SBI provides the car loan on the purchase of new car, jeep and also on the used car or jeep provided that the vehicle is not more than 5 years old. Maximum limit of loan amount amounts to be 2.5 times more than the net annual income of the person, which should not be less than Rs 1 lakh. However, there is no upper limit to this loan. Registration, insurance and one time road tax are also included in the loan amount. Margin charged by SBI is same on both new and used vehicles that amount to 15% of road price.
One can get cheap rates in India through State Bank of India. SBI car loan rates are not only cheap but it also avoids the hassle of paying EMI in advance. Ezee car loan scheme of SBI is offering the loan at 8% per annum for first year and 10% for second and third year. This means EMI for the loan would be very low. SBI loan rates according to Ezee loan scheme is best available choice for all those who are panning to return the loan in next 3-5 years. SBI rates are cheaper and one can lock these rates keeping in mind the hiking prices. Unlike other banks, administration charges are not included.
Remember, This is a Guest post written by the admin of Sbiloans.co.in
