| State Bank of Hyderabad Car Loan |
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| Introduction |
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State bank of Hyderabad offers loan for the purchase of new passenger cars, jeeps, multi utility vehicles (MUVs) and SUVs. For the loan above Rs 6 lakh, 30% repayment is to be done in 7 years. However there is an option for repayment in a shorter tenure, preferably with a check off facility in case of salaried persons. Bank takes security hypothecation of vehicle & Guarantee of spouse, if his/her income has been taken into account for computing the eligibility criteria of loan amount. Normally securities in the form of surrender value of LIC policy, NSCs, units of UTI, Deposits with our Bank, SBI Magnums, gold or any other security are acceptable by the bank for grant of advance so as to cover at least 35% of the loan amount. There is no processing fee attached to the car loans of the bank. The insurance is comprehensively insured for the market value.
Rates are as per BPLR. |
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| Highlights |
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New Car |
Used Car |
| Loan Type |
Term Loan |
Term Loan |
| Ex-Showroom/On Road |
On Road |
On Road |
| Loan Amount |
For Salaried Individuals the loan amount is up to 48 times of the Net Monthly Income (NMI)
For Self Employed Individuals the loan amount is up to 4 times of the Net Annual Income (NAI)
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For Salaried Individuals the loan amount is 48 times of the Net Monthly Income (NMI)
For Self Employed Individuals the loan amount is 4 times the Net Annual Income (NAI)
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| Tenure |
Min. - 36 months.
Max. - 84 months.
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Min. - 36 months.
Max. - 84 months.
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| Interest Rate |
10.6 % |
15.95 % |
| Time to Process Loan |
7 days |
7 days |
| Preferred Manufacturers |
Chevrolet, FIAT, Ford, GENERAL MOTORS INDIA, HINDUSTAN MOTORS, Honda, Hyundai, Mahindra, Maruti, Mercedes-Benz, Mitsubishi, Nissan, Reva, SAN Engineering, Skoda, Tata Motors, Toyota |
Bajaj, Chevrolet, FIAT, Ford, GENERAL MOTORS INDIA, Hero Honda, HINDUSTAN MOTORS, Honda, Hyundai, Indus, Kinetic, Mahindra, Maruti Suzuki, Mercedes Benz, Mitsubishi, Nissan, Reva, Royal Enfield, SAN Engineering, Skoda, Suzuki, Tata Motors, Toyota, TVS, Yamaha |
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 Fees & charges
Fees & charges
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New Car |
Used Car |
| Stamp Duty |
As Per Actuals |
As Per Actuals |
| Legal, Repossession and Incidental Charges |
As Per Actuals |
As Per Actuals |
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| Comment on Charges |
Margin
Upto Rs 10 lacs: 15% on road Price of the Car
Above Rs. 10 Lacs:
15% Margin on Ex-showroom Price of the car
(OR)
Margin of 20% on Road Price of the car at the option of the customer
Penal Interest: 2% p.a. on the overdue amount only.
Processing fee : 50% off, max Rs:1000/- |
Margin: 15% of the on road price of the vehicle
Processing charges-Nil |
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Special Offers
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Special Privileges |
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| New Car |
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Insurance : Insured in the name of the borrower for the market value or at least 10% above the loan amount outstanding, whichever is higher for the market value. |
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