SBI ASSURED CAR LOAN SCHEME

Question
Response and Scheme Details

Name of the Scheme

SBI ASSURED CAR LOAN SCHEME

Margin required

100% of Fixed Deposit for “On Road price”.

Eligible Age Group

People with Min. age 18 Year , No upper Age limit

Minimum Income Criteria

Income declared by applicant will be accepted.

What will be the maximum loan amount?

Min: Rs. 2 lacs, Max: No Limit

EMI/NMI Ratio

Not Applicable

Repayment period

3-7 Years, as per customer's choice

Documents required

The following papers are to be submitted along with loan application :

  • i. Statement of Bank account of the borrower for last 6 months.
  • ii. 2 passport size photographs of borrower/guarantor (s).
  • iii. A copy of passport /voters ID card/PAN card.
  • iv. Proof of residence by way of tax receipts, telephone bill, electricity bill or any other document that comply with the regulatory and/or KYC requirements. Proof of official address for non-salaried individuals.
  • v. Formalities for creation of charge on FD.