State bank of India (SBI) come up with attractive car loan scheme that are offered at competitive rate of interest. SBI offers the best car loan scheme for you to take a loan for purchase of certified pre-owned car. But, in order to access the sbi car loan, the pre-owned car should not be more than 5 years old.
It is a kind of term car finance for purchase of certified pre-owned car, from certified used car dealers, not more than five years old. The loan should be repaid within 7 years from the date of the original purchase of the vehicle. This is special type of financial solution that has following features:
• No advance equated monthly installments (EMIs)
• Longest repayment tenure of 7 years
• Lower interest rates
• Interest calculated on daily reducing balance
• Lowest equated monthly installments (EMIs)
• Loan amount is offered equal to the 85% of on-road price of the car including registration, insurance and cost of accessories
Under this car loan offer, you can enjoy a flexibility of payment of Equated monthly installments (EMIs) anytime during the month. If you are planning to prepay your loan, then, only 2 % of the outstanding loan amount is chargeable from you. Low processing fee up to 0.50% of borrowed loan amount is charged. It also offers free accidental insurance and optional SBI life cover to the loan applicant.
Maximum loan amount will be 2.5 times of net annual income. In order to avail this special loan scheme, spouse’s income could also be considered to increase the loan eligibility, provided the spouse becomes a co-borrower in the loan.
When it comes to down payment or margin money, then you are required to pay only 15% of the on-road price that includes registration, insurance and other accessories. You can enjoy the longest repayment period in the industry with us as long as 84 months.
It is a kind of term car finance for purchase of certified pre-owned car, from certified used car dealers, not more than five years old. The loan should be repaid within 7 years from the date of the original purchase of the vehicle. This is special type of financial solution that has following features:
• No advance equated monthly installments (EMIs)
• Longest repayment tenure of 7 years
• Lower interest rates
• Interest calculated on daily reducing balance
• Lowest equated monthly installments (EMIs)
• Loan amount is offered equal to the 85% of on-road price of the car including registration, insurance and cost of accessories
Under this car loan offer, you can enjoy a flexibility of payment of Equated monthly installments (EMIs) anytime during the month. If you are planning to prepay your loan, then, only 2 % of the outstanding loan amount is chargeable from you. Low processing fee up to 0.50% of borrowed loan amount is charged. It also offers free accidental insurance and optional SBI life cover to the loan applicant.
Maximum loan amount will be 2.5 times of net annual income. In order to avail this special loan scheme, spouse’s income could also be considered to increase the loan eligibility, provided the spouse becomes a co-borrower in the loan.
When it comes to down payment or margin money, then you are required to pay only 15% of the on-road price that includes registration, insurance and other accessories. You can enjoy the longest repayment period in the industry with us as long as 84 months.
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