COMPARE : CAR LOANS
State Bank of Hyderabad Car Loan
Introduction
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.
Highlights
  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)
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)
Tenure Min. - 36 months.
Max. - 84 months.
Min. - 36 months.
Max. - 84 months.
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
 Fees & charges
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